The role of Internet- and mobile-based content distribution and social media platforms in the licensing business traditionally has been twofold. First, the sites provide distribution and awareness for licensable properties. Second and more recently, they have been offering assistance and guidance to help the IP owners they distribute launch their own licensing efforts.
A third strategy is now starting to establish itself, as a growing number of platforms introduce outbound licensing programs based on their proprietary brands. Examples coming to light in the past six weeks include:
- Content network BuzzFeed, which announced that it would debut a licensing program for its brands, including Tasty, Nifty, Goodful, Top Knot, and others, at Licensing Expo. Earlier this year, Buzzfeed launched a limited-edition line of merchandise inspired by President Trump’s reference to it as “a failing pile of garbage”; proceeds went to the Committee to Protect Journalists.
- Video social network Musical.ly, which licensed Tween Team to develop a line of back-to-school products including notebooks, folders, pencils and cases, stickers, tattoos, locker accessories, and other items. Musical.ly retained Brand Central as its agent last November.
- Inspiration and idea-sharing site Pinterest, which partnered with Michaels for a range of co-branded Make It Kits that contain everything consumers need to create trending craft projects such as shibori-style dyed textiles.
- Product-development community Quirky, which announced that it is relaunching after bankruptcy with a new inventor-supplier matchmaking strategy and a plan to continue licensing its name for consumer products including electronics and home goods. Quirky’s branded merchandise has been sold on Amazon, in Bed Bath and Beyond, and on its own site.
It is almost a certainty that more social media and digital content distribution platforms—especially those operating in a specific niche that lends itself to product applications—will become more active in outbound licensing going forward.
Reminder: The next edition of Raugust Communications’ monthly e-newsletter comes out tomorrow (May 16, 2017). The Licensing Topic of the Month examines licensing and its relationship to luxury brands and luxury goods. If you haven’t signed up for this free monthly publication, you can do so here.
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