MGM and Owens Corning continue Pink Panther licensing agreement
By M&C Movie News Apr 24, 2007, 12:07 GMT
US artist Jeff Koons\' works \'Pink Panther\', front, and \'Hulk\', background, are shown as a part of the exhibition \'Re-Objekt\' (Re-object), at the Kunsthaus Bregenz, in Bregenz, Austria, during a media day, Friday, February 16, 2007. EPA/REGINA KUEHNE
LOS ANGELES, CA (M&C)– Solidifying one of the most successful and longest standing corporate brand initiatives in entertainment licensing history, MGM Consumer Products has announced the renewal and extension of its Pink Panther character license agreement with Owens Corning a world leader in building materials systems and composite solutions.
Owens Corning licensed the exclusive rights from MGM Consumer Products to use the iconic Pink Panther character, made famous by the franchise of live-action comedies and animated shorts, as its official brand spokesperson.
The Pink Panther character will continue to have worldwide exposure across multiple lines of Owens Corning’s business in advertising, marketing and promotional activities for both trade and consumer purposes.
“The partnership between MGM and Owens Corning has transcended the traditional tie-up promotional relationship and evolved into a true strategic corporate partnership,” said Travis Rutherford, executive vice president of MGM Consumer Products and Location Based Entertainment. “We are very proud of the 25-year partnership with Owens Corning, and we look forward to an even more successful partnership over the next 15.”
The global licensing deal will extend for an additional 15-year term and is exclusive to the category of building materials, home and commercial building construction, improvement and repair product and service categories, fiberglass and industrial materials, and thermal and acoustical commercial industrial materials.
“For more than 25 years the Pink Panther has encouraged consumers to increase energy efficiency through the use of Owens Corning insulation and other products,” said Christian Nolte, director – strategic marketing for Owens Corning. “The Pink Panther continues to be a highly recognizable part of Owens Corning’s brand strategy. Studies have proven that, in the consumer’s mind, the Pink Panther character connects Owens Corning with our core values of innovation and integrity. That’s a powerful combination.”
The Pink Panther has entertained audiences for more than 40 years – from the small screen to the silver screen. This unique joint venture between a major motion picture studio and a Fortune 500 company verifies the positive impact character licensing can have on corporate branding awareness.
The agreement was negotiated by Pam Reynolds, Senior Vice President, Business Affairs & Legal for Metro-Goldwyn-Mayer Studios Inc. and for Owens Corning, by Inger Eckert, President of Owens-Corning Fiberglas Technology, Inc. and Director, Intellectual Property, Owens Corning.