How lucrative licences are shaping the toy industry

We look at the multi-billion-dollar toy industry. We ask why backing the right movie, YouTube show, or social media trend can affect your bottom line. And we hear about the challenges making products based on surprise hits, and how the humble puzzle could be the in-toy for 2026. If you'd like to get in touch with the team, our email address is businessdaily@bbc.co.uk Presenter/producer: Elizabeth Hotson (Picture: Figures from the "KPop Demon Hunters" toy series are on display at Mattel's booth at the New York Toy Fair in New York City, U.S., February 17, 2026. Credit: REUTERS/ Jeenah Moon)