Are you a big fan of a movie or a particular fictional character that you’re willing to spend hundreds of dollars worth of merchandise just to have your personal souvenir of this awesome work of fiction? Have you ever bought a shirt designed after the logo of your favorite superhero, an action figure of a famous villain or even a copy of your favorite Disney movie?
If you answered “yes” to at least one of these questions, then you’re definitely a part of a larger and wider market of consumers that help the film and its partner media franchises to make money.
A media franchise is defined as a collection of related media composed of derivative works based on an original creative work such as movies, literary works, television series, or even computer games. Here, the creators of the original work grant the intellectual property rights to providers for further commercial exploitation and merchandising purposes.
One of the most popular media franchise and in fact, the work that started it all, is Star Wars. The cinematic universe created by George Lucas attracted millions of fans not just in the U.S. but around the world. In fact, the franchise made a staggering 12 billion in revenue – and this jaw-dropping figure came from toy licensing alone.
The Harry Potter book and film series have billions of readers and followers across the globe and this makes this work of fiction one of the most in-demand media franchises in the world today. Companies like Johnson and Johnson, for instance, bought Harry Potter’s intellectual property rights for their HP bathroom products. Other gaming companies have also seen the earning potential of this franchise like Electronic Arts, creating the earliest Harry Potter video games.
The biggest movies in the industries also make big money in when they become box office hits but what happens once they leave the theaters? Most of the time, producers sell the rights of showing these films to other international media and television companies. Airline companies, too, contribute in producing a huge profit for filmmakers for their in-flight entertainment.