Toys Based on Popular Movies Are Big Business

Character-related merchandise (linked to entertainment, TV, movies and celebrities) accounted for $113 billion in toy sales in 2016, according to the International Licensing Industry Merchandisers' Association, or LIMA. Driven by Star Wars and superhero movies, the toy industry grew by 5% in 2016 to $20.4 billion, according to NPD. 2016 was the first year Hasbro (HAS) - Get Report topped $5 billion in revenue, the same year it partnered with Disney (DIS) - Get Report to manufacture the Disney Princess and Frozen dolls.

Star Wars, whose products are also made by Hasbro, was the No. 1 toy brand for movie merchandise in 2016, reaching $760 million in sales. So far for 2017, there will be 24 licensable movies, which should boost the toy industry into another record-breaking year.

This article was written by a staff member of TheStreet.