The profound influence of 'Star Wars' on the toy market: A closer look at its transformative impact.
In the 1970s, during a time when science fiction was unpopular and movie-based toys were in their infancy, George Lucas, fresh off the success of 'American Graffiti,' proposed a bold idea: 'Star Wars,' a Western set in outer space. The film, released in 1977, was initially difficult to fund, but its success was unprecedented.
One of the key factors that contributed to the film's enduring popularity was the success of its accompanying toys. Lucas, in an unusual deal with 20th Century Fox, exchanged his director's salary for the licensing and merchandising rights of 'Star Wars.' This decision proved to be a game-changer, as movie-toy tie-ins became an essential part of film marketing campaigns in both children's and adult films.
Kenner, then owned by General Mills, was the original toy company to license 'Star Wars' tie-ins. The demand for the toys was unanticipated, and the company struggled to keep up. As a solution, Kenner issued an 'Early Bird Certificate Package' that gave kids an IOU for action figures that were finally available in the spring. By the end of 1978, Kenner had sold more than 40 million Star Wars action figures for over $100 million in gross sales.
The success of Star Wars toys played a significant role in the rebirth of the Lego bricks business in 1999. The franchise's merchandise generated $3 billion in sales in 2001 and more than $20 billion in licensed merchandise has been sold since the original movie release in 1977. Disney, which bought the franchise in 2012 for $4 billion, sells 10 million lightsabers annually.
Interestingly, after Disney acquired the Star Wars franchise from George Lucas in 2012, the LEGO Group continued to hold the license for Star Wars LEGO sets, having already extended the license with Lucasfilm Ltd. until 2016. Thus, LEGO retained the Star Wars license after Disney's acquisition.
The impact of Star Wars toys on the film industry and the toy market is undeniable. They not only helped to propel the film to unprecedented heights but also paved the way for movie-toy tie-ins to become an integral part of film marketing strategies. Today, the Star Wars franchise continues to thrive, with its merchandise remaining a popular choice for fans of all ages.
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