The economics of Pantone and its colours

The Finshots Daily podcast episode explores the significance of Pantone's Color of the Year and the economics behind Pantone, a company known for its color standardization system. It explains how Pantone's Matching System (PMS) ensures color consistency across various industries, using examples like Kodak and Heinz to illustrate its impact on branding and sales. The episode delves into Pantone's history, highlighting Lawrence Herbert's role in creating the PMS and the company's strategies for achieving a global monopoly in color standardization, including legal victories and the creation of a recurring revenue model through updated color guides. It further discusses the influence of Pantone's Color of the Year on consumer behavior and product development, emphasizing its role in marketing and brand recognition.