How much of Pokémon Korea's 2022 revenue jump the Pokémon bread royalty could explain on a full-year estimate of bread sales

What this is

How much of Pokémon Korea's 2022 revenue jump the Pokémon bread royalty could explain on a full-year estimate of bread sales: about 15%.

How it’s built

1. 2022 bread sales back-cast from the Korean agri-food agency's 2023 figure, which was up 28.7%: about ₩86bn.
2. At a 10% royalty that is ₩8.6bn, about 15% of the ₩56.5bn rise in Pokémon Korea's revenue from 2021 to 2022.

What we assumed

• The royalty is about 10% of retail sales.It is an industry estimate reported in the press; the bread maker says only that it is lower than for other famous characters, and on a wholesale base it would be lower.
• 2022 sales can be worked back from 2023's growth rate.No full-year 2022 figure is published.

Sanity check

The figure on loaves sold to July is about 12%, so this is the higher of two readings, and both leave most of the jump unexplained.

Where it comes from

Our calculation from other figures in the trainer’s notes:

• EstimateBread royalty rate estimate, 202210 percent of bread sales
• ReportedBread licence royalty level, April 2022
• ReportedPokemon bread annual retail sales, Korea (SPC Samlip), 2023111 KRW billions
• ReportedBread units sold, 2022100,000,000 units
• EstimateBread revenue estimate, 2022150,000 KRW millions
• EstimateRevenue mix 2022, 2022