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Innovative Strategic approach on IP management – The Walt Disney Company

2020-02-28 来源: 51Due教员组 类别: Essay范文

下面51due教员组为大家整理一篇优秀的代写范文-Innovative Strategic approach on IP management – The Walt Disney Company,供大家参考学习。这篇文章讲述的是沃尔特迪斯尼公司是一家多元化的全球娱乐公司,拥有多个业务部门,包括媒体网络、公园和度假村、演播室娱乐和消费品以及互动。在迪士尼向美国证券交易委员会提交的2018年第一季度盈利报告中,迪士尼确认其业务成功在很大程度上取决于娱乐产品和服务的知识产权的存在和维护。

Innovative Strategic approach on IP management –

The Walt Disney Company

The Walt Disney Company is a diversified global entertainment company that have multiple business segments, including media networks, parks and resorts, studio entertainments and consumer products and interactive. In Disney’s 2018 first quarter earning report to SEC, Disney identified its business success is highly dependent on the existence and maintenance of intellectual property rights in the entertainment products and services. The business segment of Disney required the company constantly invest and commercialize its intellectual property (IP), such as animation characters, Disney realized that its IP is its core competency and have take many actions in order to protect and successfully commercialize its IP. With the acknowledge that its Intellectual property is its most important asset, Disney has been actively manage its IP, it’s not take single innovative way but a series of action to create an innovative value chain and a strategic approach to manage its IP, the value chain started with in house creation or acquire IP, commercialize IP through different channels and continuous aggressive protection of IP, together Disney not only ensure the success but also monopoly in marketing its IP product line.

Disney animation studio produced its first animation movie Snow White and the Seven Dwarfs in 1937 and Academy Award-winning Frozen in 2013, from 1937 to 2016 Disney alone produced 56 animation studio films, each worth billion dollars of precious IP. Beside in house production, Disney also constantly active acquiring IP from other companies to further boarder the IP product line, in this strategy Disney bought Pixar, the innovative animation studio that produced “Toy Story” trilogy in 2006; Marvel Comic and its well-know iconic superheroes series in 2009; the last Disney acquisition made is purchase of the coveted “Star Wars” franchise from George Lucas in 2012. The recent purchase of the “Star Wars” cost Disney $4 Billion dollars, this investment almost immediately paid off through the “Star Wars” series movie through 2015 to 2017, not mentioning the adoption of “Star War” experience at Disney land and resorts. Disney’s most important IP is Mickey mouse, where its brand origin from, with the fact Disney would probably lost the patent on Mickey Mouse in the next few years, Disney is continuously introducing new character to the market to maintain customer interest in the brand name. As of 2018, Disney had legal protection over its 5921 trademarks, 1545 patents and another 1054 patent under application. Disney’s in house production “Frozen” was named as the biggest animated movie of all time with $1.28 billion box offices over the world. Disney itself was associated with the brand image of family fun, but it also limited Disney’s business scope, the merger and acquisition not only allowed Disney to get access to new IP but also boarder business scope and ability to reach beyond current market segments.

After the success of “Frozen”, Disney introduce several mobile apps including game on smartphone for both Android and iOS systems based on “Frozen”, those Apps also presented on the “Frozen” home page with introductions to other games, DVD and stores for consumer products.  The success Disney achieved at commercializes its IP, not yet another company could beat Disney at this aspect. This success was not simply achieved through media network or cinema line, but through the combination of all possible channel of distribution Disney own. Through Disney’s 10K report, the consumer product and interactive media segment almost brought them 25% margin, which is the highest among all segment Disney operates in. Disney also introduced a variety consumer product for Frozen, including toys, clothing and etc. with a price tag. However, this is not the end of Disney’s monetization of its IP, continue to use “Frozen” as the example, the main character also made appearance on the TV series “Once upon a time” on ABC, which is also own by Disney. Disney Resort, on the other hand, also introduce new theme based on “Frozen” like all other original stories called “Frozen ever after” and even hotel rooms in related themes. Moreover, Disney also announced production of “Frozen 2” and will be in theater 2019. Disney pushed the limits of consumer related product base on IP, with the coverage Disney was able to reinforce their IPs to its customer through all available channels, which allow Disney to sustain the demand longer than usual.

With popular IPs, Disney also has to protect them. Disney was known with its aggressive way to protect its intellectual property with legal procedures, there was even jokes goes around, if someone is trapped on a isolated island, it would be faster to get help if he build a Mickey Mouse statues on the island, because Disney would found him and brought him out to sue him for intellectual property violation. Even trough, it is a joke but it also reflect how serious Disney is regarding its IP protection. Nobody would imagine how one simple animated character would make impacts on the copyright law in U.S., but the truth is the protection on Mickey Mouse copyright has already been extended twice prior today, and chances are will extend again. The Mickey Mouse cartoon created by Walt Disney in 1928, under the 1909 copyright act, Mickey Mouse had protection for 56 years, in 1976, several years before protection expires a major change issues on the Copyright Act was authorized by the US congress, this change has lengthen the protection from 56 years to 75 years, further pushed the expiration of protection to 2003. Mickey Mouse now is protected under the Sonny Bono Copyright Term Extension Act granted more extra 20 years in 1998, this Act put the expiration of the copyright on Mickey Mouse to 2023. However, with the evolution into digital era, it became harder for Disney to fight against IP violation, the fast spreading networks provides convenience channels to deliver digital content, such as animation movies. Disney also faced new challenges in IP protection but also enjoy the influence of the fast spreading news in marketing effects as well.

 In order to understand the strategy Disney taken to manage its IPs, a visualized business model of Disney is presented below (Table 1), where the center of Disney’s business driver is its ability to develop new and unique IP then monetize it through varies platform company have access to.

 

Business Unit

Brand

Description

IP Generation

Disney Studio Entertainment

Walt Disney Pictures

Disney Animation

Lucas Film

Marvel Studio

Produce live-action and animated films, direct to video content and live content

Monetization

Media Networks

ESPN

ABC Network

A & E

Disney Channel

Broadcast and Cable TV networks for distribution

TV Production operations for creating original content

Parks & Resort

Disneyland

Disneyworld

Disney Cruise Line

Disney Vacation Club

Design, develop, own and operate theme parks

Consumer product

 

Design, develop and license products based on Disney IP

Interactive

 

Deliver interactive product based on Disney IP

Legal Protection

Legal affairs

 

Patent and protect all Disney IPs

Table 1: Disney Business Model                                                    Source: Disney 2017/10K

In a 2015 Wall Street Journal article revealed that Disney has consider every production not only based on success of one single unit but every possible opportunity of monetization across all Disney business units. Disney, not like other companies, the executive compensation is not calculated simply based on the performance of business unit but the Disney Group as a whole. When consider innovations, Disney might not be the first mover in the market to monetize and protect its IP but Disney has successfully created a useful framework in its company to take a strategic approach on the management of its IP. The creation and monetization of its IP were remarkably successful consider the coverage of related product. A successful IP management is not simply create or acquire IP to put it on the screen but follow certain framework to plan for each steps from creation to monetization then protection. Without successful introduction to the market to make the IP well known and reinforce the association of the IP to the company, the IP would not bring value to the company not get protection. The recognition of IP and immediate association to the brand name is the crucial part in marketing and protection of the IP. Disney certainly realizes the importance of recognition from mass audience that ensured deliver of core competency of the company. Disney took innovative approach to strategically manage its IPs by align all business unit with the same goal and its willingness to politically influence legal environment to secure the protection on existing IP have brought them success in the industry.

Disney, with the access to massive consumer market and entertainment industry through media and hospitality channel, has been successfully monetize its IP, the approach its taking on manage its IP is not only strategic organized but also innovative. The innovation Disney have showed in the company created a frame work for Disney to continuously create, monetize and protect its IP but also established a stable value chain for Disney to gain leading position in the industry.  

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