Entertainment Film Production
IP (Intellectual Property)
Creative works or ideas that can be owned and licensed for adaptation.
Definition
In entertainment, IP refers to creative properties that can be owned, protected, and licensed for various uses. This includes books, comics, games, toys, and original concepts that studios acquire rights to adapt into films, TV series, or other media.
Why It Matters
Established IP reduces risk for studios because it comes with built-in audiences. The competition for valuable IP has intensified as studios seek franchises and universes with multiple revenue streams.
Examples in Practice
A studio acquires film rights to a bestselling novel. A toy company licenses characters for an animated series. A video game franchise is adapted into a streaming series with merchandise rights.