If it wants to, Netflix can solve the problem of people not paying for music through bundling music with its movie and TV service. And music is ripe for bundling for several reasons. No one service is doing bundling well right now. Amazon is almost doing it with it’s Prime Music service, but it’s mainly a brick-and-mortar product distributor, not a dedicated content delivery service like Netflix (which now also produces content). And Apple’s iTunes service is clunky and outdated at best, and the a-la-carte download model is very 2010. And Apple is really the only other company who could make a significant dent in a play for bundling. But with a slick UI and some negotiations with the major labels, Netflix can catch Apple asleep at the wheel.
Recognizing that your brand has value is the first step in understanding how you can best monetize it. Actually, it’s more than that: your brand is your value.
Intellectual assets – whether photographs, music, books or films – represent sources of revenue. More than that, however, they showcase your creative talents and engage your audience. Intellectual assets are the building blocks of your brand.
Now, OK – ‘intellectual assets’ is just managerial-speak for commercial-grade properties that can be exploited in the market. As creators, you perhaps don’t conceive of your work in this way.
The thing is…you absolutely need to. Many of my creative clients either miss this step or gloss over it completely, and all to the detriment of their long-term success in the biz.
Choosing a title is an important component of an intellectual asset management strategy that should be addressed at the very beginning of your project. When developing a new film, book or media property, it is crucially important to ensure that the title of your property, including the words and designs associated with its exploitation, does not infringe on an existing registered or unregistered trademark.
You do not want to put time and money into developing an asset, only to discover – right before your release – that your title is identical or confusingly similar to a mark being used on closely related products or services. (Believe me, this happens more than you might think…)