Insurance giant MetLife will no longer be using Charles Schulz’ Peanuts franchise to market its products afte 2016. According to the Wall Street Journal, MetLife informed Peanuts owners Iconix that they will not be renewing their 31-year licensing agreement when it ends this year. MetLife reportedly paid between $10 and $15 million annually for the Peanuts license.
“We brought in Snoopy (and the rest of the Peanuts gang) over 30 years ago to make our company more friendly and approachable during a time when insurance companies were seen as cold and distant,” said MetLife’s Chief Marketing Officer Ester Lee. “However, as we focus on our future, it’s important we associate our brand directly with the work we do and the partnership we have with our customers.”