The fast-growing arena of digital entertainment

This transcript is automatically generated

-- stuff going on online we've talked before about how people are leg.

Buying imaginary little people and buying imaginary little clothes for their little people and hitting an all these IPOs gone on it's amazing stuff going around the world right now.

Since really -- that.

My -- Smith that's right now as a CEO of mind candy.

As well as mining -- dean -- -- president.

Industry relations and information at the licensing industry merchandise association.

He had a big long -- -- big business here.

Seven Michael let's start with you Michael because you this whole notion of these -- -- monsters you created this whole idea yeah.

-- the crazy I guarantee is the kind of -- grew slowly slowly in the stock and then it exploded a couple of years.

To tell people what it is -- to protect that so kids adopt a little more stuff I'm geneticist -- It's very -- an epic clips offering -- the subscription model -- of the parents can take six dollars a month to get access new parts of the world.

But much placed with afraid of about sixty million kids around the world that have adopted a monster.

I didn't call for a particular war could do puzzles with a.

And it went amazingly well online and now lost it when you -- plan.

Built toys books and magazines and also some of the fun stuff.

Thought it -- is that good way to say it like farm bill for our kids it's a little bit like coming to achieve -- I the a little bit like took -- -- until our.

So.

-- kids love it and they love the online experience you know when you too and she loves my parents my funny which -- seems to digital generation love the the only loans -- really interesting though.

Michael is how we're going from online.

To the merchandise now it's almost certain.

Role reversal isn't it in the past it was kind of he saw the movie made a product may be something then to -- to the web.

It's different now -- Well the licensing is all about emotion and what the popular culture is seeing in connecting to -- and at this point apps and the online worlds are part of kids every day -- China and so.

It really it might seem like a little bit of reversals that are really follows the classic model.

Of latching on to and and feeling the emotion is connected to a character and then wanting to extend that experience.

Which really -- just saying is.

You have this whole generation as you said Younis.

Of these kids who did creating the industry moved right my kids on the you know iPad there on the computer they're doing things I have no idea what -- -- and then she's a little little youngest is seven -- And they're the ones that are kind of dictating how we're gonna do things in the future aren't they absolutely you know I think this is the future of the entertainment industry that bold statement -- -- the policy stop with the TV show.

Or film agency -- Lincoln like Spider-Man Spider-Man -- stuff and -- we license it out but.

Now you start with you know a -- -- Angry Birds which is huge or shall well what Washington does and you tweak it and you molded and then once you've got tens of millions of -- Then you expand into film and TV and toys and books and it's a different way of looking -- but I think it's much more exciting I mean let's recall that -- -- as a company but I think -- -- -- -- -- a -- -- was a -- comments -- the media landscape changes constantly over over the decades.

And this is just latest iteration of that.

Where we have things starting in the online world.

And making their way now -- product.

My -- -- Angry Birds and that's just a phenomena and of itself isn't it yeah that's the one that kind of got everybody really heated up.

The success that they've had in in jumping from and happen.

Into the physical world product.

They've done extraordinarily well particularly over the past year.

And that's that's the kind of thing that catches everybody's attention and everybody -- an -- or an online world says I can do that.

So while there's a lot of money in there if it's done well -- And -- said that area from what what does that mean if it's done well because it could obviously be done wrong.

Like any business that can be done poorly but when it's done well the products makes sense within the context of the story in the world that's that's could look like here.

He said he couldn't do puzzles with year.

You -- and you have a -- -- exactly and we have magazine my kids can read about ambulances and stories.

Puzzles and -- for the fun stuff.

And this connective tissue that holds it all together.

So there are unique coyotes when you buy some of the toys that you -- tighten the website thicket you virtual version of -- physical toll on all sorts of other weird and wonderful.

-- -- stuff I can't quite come head around the -- kind of creativity that really makes it work.

Where you don't just stop and say all right I've got this world let's make plus -- just all the characters right.

But being the -- -- creativity that goes into building something like that is really where bring -- -- I think you're gone from bad to the question would -- let's say and don't you just keep them it's just that one -- -- thing here yet and.

I think when I was a kid -- -- so what -- which movie but I also wanted to figurines from the lending -- comic books and and kids now no different but they just how many more ways of accessing that.

From YouTube to mobile devices to went offline -- Derrick thanks so one -- -- kids between the ages of six and twelve bones in motion monster in the UK and Australia and the US it's 15.

Yeah we're at an earlier stage in the US but -- just arriving -- now we've got some great retail partnerships.

Are with Wal-Mart and Toys 'R' Us and target.

A lot of products and we have -- living here for us.

If they're calling you the FaceBook for kids.

Why because -- face their community -- though is that this is the really important part of the world we know that kids left to communicate and Shannon socialize online.

We felt if we could build safe tools kind of that's the case the key.

The walled garden.

But kids can learn about social media -- environment for the first time.

Then how we can go from his biggest things because for the under thirteen years that have because you know on a parent I have three kids -- I I I get very nervous when they get out there and they're not being wants obsolete so it's a huge responsibility looking up to -- and millions of children online we all -- that kids love the when the new technology.

So are we decided to we've got a brilliant moderation team dozens of people around the world what -- in this that we use software.

-- yeah -- keep the slight favorites like still.

-- what's that what's.

-- is future gonna look like.

As far as this whole world of absent merchandising -- mean it clearly hasn't changed -- way to licensing industry is even looking at the future.

Well I think you know as I said before everybody has seen the success -- Angry Birds.

Has had -- and then anchor of access well that everything needs to launch pet hate.

That really has been the launch pad but you have lots of things talking friends you have started all you have.

Do the job you approved for the very youngest kids.

And I'm.

Know a lot is going to be tried.

They're going to be failures along the way but they're going to be some big successes it's a matter of connecting to the -- kids live their lives today.

And in the licensing aspect staying true to the story to the characters and making it very organic.

So that it doesn't just look like -- in the -- to the consumer.

That you're just trying to make a quick -- -- and that -- you can look really closely with got -- Michael can make stayed true to the private.

Are absolutely I mean that's not our role specifically -- but we promote you know good practices within business and and obviously they're doing it right to this point.

Men and a lot of others are trying to do right but nobody really knows what right is going forward because the media landscape is changing so quickly so called it it.

And I am tiny amount my kids go adopt for my god since and its CEO of mind candy I presume my candy the parent of -- was -- unpleasant.

And money vaccine is senior vice president the licensing industry merchandise association you -- -- make -- -- different here.

-- -- your business thank you guys -- great thank you so much thank you.

Watch Live

The fast-growing arena of digital entertainment

Details

Clips

Latest Video

Evol Love Morphs into Fiery Success

More Mayors Taking on Junk Food?

Former NYSE CEO on Claims of Foiled Bomb Plot

Google Asks to Release Info on Gov't Requests

Google vs. Uncle Sam

Obama Seeks Talks With Russia on Nuclear Arms

Obama Calls for U.S., Russia to Cut Nuclear Warheads

Untangling Immigration Spin

Rep. Gowdy: Border Security is No. 1, No. 2 and No. 3

Your Car at Risk from Cyber Terrorism?

Preparing Emotionally for Retirement

Checklist for Retirement Planning

Transcript

Recommended