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Extra Profit From Your Movie
Marketing is the merger of venues, groups and products/services. The cross-pollination of your intellectual property can help you tap new market niches, or turn your product into addition revenue streams. Here are some ideas to consider that come out of the movie industry.
A Wider Range of Marketing Approaches
- International markets
- Hosting centers for members to conduct business, network and obtain essential tools and information.
- Special events
- Conferences focused on topics of interest to industry professionals.
A Wider Range of Venues
- Cable retransmission
- Private copy kiosks
- Video rental
- Theatrical box office
- Public performance
- Public performance video
Reach Out to Other Media
- Theatrical use of their product worldwide.
- Internet - text and audio, video and interactive
Sideline products (sometimes called ancillary products) can be developed for any venue. Sideline just means a product that is not in your main flow of revenue. You can tap new markets by developing your content into products using other media or marketed in a slightly different way.
One example is the cross promotional work by movie companies. They have developed lucrative sideline products beyond the theatrical film to include some or all of the following:
License the name and images for
- postcards, etc.
Develop the film score into
- downloadable music releases,
- sheet music,
- music videos,
- and even karaoke!
Create and promote related books about the actors, the story, the technical behind the scenes work, the making-of the movie, and even comic books, magazines, graphic novels and historical perspective or fan books for the youth library/education market.
There are many subsidiary markets for books that support motion pictures...both fiction and documentaries.
Producers can license rights to a movie to the many splinters of the media industry such as cable TV, network TV, video rentals, video sales, around the world distribution rights, screenings in hotels, health facilities, schools, and churches.
Marketing Strategy to Optimize Revenue
You have to make smart choices when getting into the sideline products biz. You can optimize your potential profit and lower your risk if you consider the following in your business plan.
Hope this helps you think about your intellectual property as possibilities. Some profitable, some wishful thinking, and some can spawn a whole new sideline business. Think broad -- then narrow it down to select only the BEST ideas.
- Know your target audience...urban teens, tourists, professionals, etc.
- Create products they hunger for...some want $5 widgets, some want $100 collectibles.
- Partner with companies who have "a golden roll-a-dex". People who can help market the product. And a partner in the manufacturing side of things can't hurt at times, either.
- Time the release of the product to coincide with your movie promotion schedule.
- Don't overbuy inventory. Start small and learn the ropes of this additional profit center. Your second round will probably be more profitable than your first. The first round is kindergarten -- learn the basics.
Copyright 2005 - 2020 Carolyn Allen
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