Industries hedge creative risk by leveraging pre-owned intellectual property

Evidence

Because risk is so prevalent in the film and television industries, with unpredictable audiences constantly changing in their behaviors and tastes, successes must make up for the inevitable failures. In order to ensure future success, every effort is made to leverage past success, exposure, and pre-owned intellectual property. On the occasion of success, contracts with talent secure the option for more derivative content in the future. On the occasion of failure, resources are redeployed and intellectual property is reserved for possible “reboot” in the near future. — Andrew deWaard, Derivative Media, 167

Categorization

• XREF: connects to: Assetization of IP reduces incentives to develop actual products — Kean Birch, Rethinking Value in the Bio-economy:…, 67