Line extension isn’t something new
‘Product line extension’ has been a common practice in ‘daily consumables.’ It is the practice of extending the brand name of an established product onto a new item (usually a slight variation of the original product). Coke, Coke Diet, Coke Zero, Cherry Coke, Vanilla Coke, etc are a great example of product line extension.
Just as ‘the captivating, fizzy liquid’ is at the core of all Coca-Cola products, Intellectual Property (IP) is at the core of entertainment business. Think of The Walt Disney Company (Disney).
The firm, in 2009, acquired Marvel Entertainment and, in 2012, bought Lucasfilm, engulfing the right to the Marvel universe and the Star Wars franchise (all of which can be considered IPs). Since then, Disney has been printing out Star Wars and Marvel products, either by itself or by others who are bestowed the rights.
Disney is the foreleader in the Entertainment business. And other entertainment businesses are quick to follow suit.
IP — i.e. contents — is the way to survive.
Before we talk about why other businesses are heading the Disney way, let’s take a look at what’s happening in the entertainment industry: even while the business is booming and the industry is growing as a whole, competition is soaring and many are shutting down.
Why? The situation is all because of forces that are heating up the competition.
- GAPS DECREASING: Skill-level differences in the entertainment business are plateauing across regions and across players.
- GLOBALIZATION: Global audience are getting connected to the ‘big platforms’ like YouTube, Twitch and Netflix, and will potentially be connected to Stadia and Project xCloud in the times to come.
- GROWING LIVING STANDARDS: More people around the world have time for entertainment. Exposure to more entertainment, results in the rise of acceptance bars.
So what should entertainment business do? Spend more money?
Partly true. But, another factor to consider is the entertainment business’s uniqueness. Contrary to other businesses ‘money-input and quality’ doesn’t guarantee success.
Therefore, the only reliable way to stand out from the pack consistently is having powerful IP (loved by many).
IPs everywhere! Let our IP reverberate through the younger generations.
| Originally | Extending to: Title | Medium |
| Riot Games: League of Legends (PC Game) | ASHE | Comics |
| ARCANE | Animation | |
| Runterra | Game (TCG) | |
| Project L | Game (Fighting) | |
| Project F | Game (ARPG) | |
| Teamfight Tactics | Game (Autobattler) | |
| Netmarble: Marvel Future Fighter | Future Fight Firsts: White Fox | Comic |
| Ubisoft: Rabbid Invasion | Rabbids Invasion | Animation |
| Ubisoft: Rayman | TBD | Animation |
| Ubisoft: Hungry Shark World | Hungry Shark Squad | Animation |
| Ubisoft: Watch Dogs | Cybermystery Series | Animation |
| Ubisoft: Far Cry 3 – Blood Dragon | Captain Laserhawk: A Blood Dragon Vibe | Animation |
Liking of an IP will lead to easier acceptance of new products dressed in that IP. Team Fight Tactics, a Riot Game’s copycat of Dota’s Auto Chess was able to reach large crowds very quickly and easily thanks to League of Legend’s strong IP.
In 2019, Riot Games is undoubtedly one of the best in the world at creating new, memorable characters (champions), poised to dethrone the former industry legend Blizzard. And the likes of Riot Games who can create and spread memorable IPs will thrive, while others that can’t will die, slowly.
Why comics and animation?Webtoon (Web Comics) industry is the rising star.
First, many younger generation read comics and watch anime. What IP needs to survive are attention, especially the imaginations of the people who will fall in love with the universe the IP has to offer. And, as for old IPs, new blood must be infused to keep the them fresh and lively.
Second, just as Marvel Comics led to the birth of Marvel movies and games, novels and comics are the breeding ground of IPs for the following reasons: … (will be continued to part 2 of the article)
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