INTELLECTUAL PROPERTY
but investment is higher, with £6-9m (US$9-14m, €8-13m) quoted for devel- opments in the UK such as CBeebies at Alton Towers, Thomas Land at Drayton Manor Park, and over US$400m (£259m, €366m) for Diagon Alley at Universal Studios Orlando. Other examples include the perennially popular Asian IP Hello Kitty, with Hello Kitty Town at Puteri Harbour in Malaysia, Hello Kitty’s Secret Garden at Drusillas Park, and the Hello Kitty IP land in Indonesia’s Ancol Dreamland which opened this Spring. Returns on these investments can be
substantial, particularly for mid-scale attractions where the addition of an IP land can dramatically shift attendance and income. But the risks are also greater and the impact of choosing an inappropri- ate IP or failing to meet the expectations of the IP’s fans can be highly detrimental.
SUCCESSFUL IP DEVELOPMENT 1. Have clear objectives. Extend the offer to attract new audiences, like young fam- ilies (e.g. CBeebies Land at Alton Towers
The emotional connection that a visitor has with an IP experience can be far greater than for other attraction experiences
or SésamoAventura at PortAventura), or shift the attraction’s image. Have a clear view of the type of development (tempo- rary or permanent) and investment level. 2. Identify best IPs to achieve these objectives. Proactively look for best-fi t IPs that will survive long enough to warrant the investment. The higher the invest- ment, the more reassurance required that the IP will endure. Critically, ensure both parties’ ambitions are aligned. If you want to brand a small children’s ride, but the IP wants the equivalent of the Wizarding World, then fi nd a better fi t. Select an IP that can be successfully translated into an attraction, such that it satisfi es its fans.
CASE STUDY: NATIONAL MEDIA MUSEUM, BRADFORD, UK Potential IP partners have to
For the past three years the National Media Museum in Bradford, UK, has run temporary IP-branded events. IP partners have included Moshi Monsters, Horrible Histories and Horrid Henry. Entry to the events is free, with any charges for activities aimed at just covering costs. The museum aims to boost
visitor numbers and to use the IPs to increase engage- ment with its collection.
have a close fi t with the collection – TV, fi lm or game-related IPs fi t best – and appeal strongly to the museum’s audience. Critically, the IP has to feel the
association with the museum brand and its audience is worth the agreement as the museum is not in a position to pay licence fees for the events. The fact that the event is temporary and the museum is free helps with this.
126 ATTRACTIONS HANDBOOK 2015-2016
3. Allow time to build strong relationships with the IP owner negotiating the agreement and the IP creative team overseeing the project. Simple temporary events can take up to six months, while major developments can take 2-3 years. 4. Inspire and enthuse the IP team. An incremental source of revenue is important to them, but protecting the reputation of the IP, and hence their core income streams, will always be their main concern. Provide reassurance that you will respect and protect the IP and can bring it to life in a way fi lm or television cannot. 5. Ensure negotiations for licence agreements are based on solid business planning. IP owners are rarely aware of the realities of attraction economics. Enter negotiations with a good estimate of the incremental impact of adding the IP in reve- nue and cost terms to ensure you negotiate a fair agreement that’s mutually benefi cial. Look over the full term of the agreement, as following the launch year the impact often diminishes. The term should be suffi cient to pay-back on investment, e.g. a 10-year
RESULTS ■ Including IPs in the advertising posters increases cut through (up to 80 per cent recall compared to 25 to 30 per cent for generic posters) ■ Events have grown in attendance an estimated 20 to 30 per cent ■ Events have helped broaden the area from which visitors travel and increased the number of fi rst time visitors ■ Income through IP-branded merchandise sales
Moshi Monsters have proved a popular draw
www.attractionshandbook.com
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