From one medium to another - monetizing the collectable.
Content managers are always looking for ways to “repurpose” stuff. It takes the strain out of new content creation and extracts maximum value from the existing. HubSpot defines it as a way to,
“Take something you’ve created, put a new spin on it, and give it new life.”
This repurposing is often thought of as a modern-day phenomenon as if it’s limited to digital content and belongs within the realms of blogging and social media. And, while that has brought it to the fore, and given it a label, it isn’t always the case.
Leverage and traction
When you’ve written a blog, spent time on research and fact-checking, deliberated over the copy, unearthed some great imagery, and then published it, it’s an achievement and a job well done. But it makes perfect sense to “sweat the asset” and to use that content in as many formats and on as many platforms as possible. Could that blog post work as a conversation piece for a podcast, or be developed for a press article? Would a “how-to” guide translate into a short animation, or video? Not only does it save you time, but it can help with organic search and social media traction.
But content can take many forms. A piece of music, an image, a design or a character. All intellectual property, all of value, all potentially capable of “re-purposing” in the wider sense.
Walt Disney, the pioneer of animation, could also be credited as the pioneer of “character merchandising”. Recognised across the globe, the cast of animals, heroes and villains his corporation have created are licensed, protected and so generate revenues way beyond those of the silver screen. Think apparel, textiles, luggage, books, toys, the list is endless. And while Disney may be the Goliath, there are plenty of smaller designers and inventors who between them generated worldwide sales in the entertainment/character sector of $128.3 billion in 2019.
Monetising the collectable
Whether they started life on film, in a video game, an old-skool comic or within the pages of a book, having recognisable, relatable characters delivers the potential to breathe new life into your sales. And the value of nostalgia should never be under-estimated.
Think of changing the medium, adding value with scarcity, making it unique by layering on personalisation and, hey presto, you have a wider (and perhaps more affluent) audience to market to. Which is exactly what Beano did with signed, limited-edition, illustrated posters of some of its much-loved rascals. Turns out even Dennis the Menace could become a piece of re-purposed content!
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