Are you a publisher looking for ways to diversify your revenue? Let’s be frank. Which publisher isn’t?
As publications fight for increasingly thin slices of advertising budgets and the subscription model for news sites slowly stagnating, it’s more important than ever to maximise your publication’s content to bring in every bit of revenue possible.
Many content creators and publications in Europe are overlooking the potential of content licensing to support their brands. The truth is, your existing content can – and should – generate
income long after you publish it.
Publishers need to understand content licensing better and to realise that it won’t involve a complicated investment of resources. This crash course answers seven questions to ask yourself as a publisher or large-scale content creator looking to diversify your revenue sources.
1) What is content licensing?
Content licensing is the distribution of media assets and intellectual property to any third party, generally for a fixed term and a negotiated fee. The licence also specifies how the buyer can use the content.
A contract might dictate digital use only, while others may allow the licensed material to be printed, broadcast, shared on social media, or even displayed outdoors. This gives the content creator or publisher some control over how their branded content is used.
Content licensing, however, is not necessarily creating new content to sell. And it’s not syndication where another outlet simply repurposes your content. It’s using your existing intellectual property and providing access to it for another brand or individual.
The beauty of this strategy is that publications can licence various types of content to brands, generating additional income on something you already invested time into creating.
2) Why would I license my publication’s content to another brand?
It’s fair to ask why other companies or individuals would find value in licensing your content, but it’s actually a win-win situation for both of you. For example, other brands that appear in your publication may want to invest in a licence to use your logo or content and boost their appeal.
When they can say they’ve been featured in a big-name media outlet, that adds clout.
For publishers, the benefits are twofold. The licensing fee is direct income for selling access to something you’ve already created, often requiring no additional investment.
Additionally, licensing to brands allows your publication to gain inroads to previously inaccessible markets, spreading your reach further than before. It’s almost like you’re getting paid to increase your brand awareness thanks to the very companies you promoted through your articles or videos.
3) What types of content can be licensed?
As a publisher, you’re hopefully starting to understand what content licensing is and why it is beneficial. So now consider the four main types of content that brands are looking to license.
First, when a publication creates awards or accolades, they develop a branded badge or special logo to denote “best of” categories. Beauty, travel, and consumer technology awards are popular genres that can be licensed.
Permissions are a second category where brands can sell rights to previously published content such as full articles or pull quotes. When other businesses, entertainment entities, or even
academics are looking to republish your work somewhere, in any form, content licensing is at play.
The third type is affiliate content. Since many publishers already earn commissions through affiliate links, they have a second chance to monetise that content through licensing. Brands featured in these articles are often interested in leveraging the mentions for their own marketing, and content licensing allows publishers to generate more income.
Much in the same way, the fourth category involves listicles. This content, when licensed, allows brands to repurpose the list, adding credibility to their product or service on their websites or social media channels.
4) Are those the only ways to license content?
Hardly! Intellectual property can take other forms, like digital reproductions.
Imagine, you can license custom electronic reprints of an article you published recently for brands to use in print and digital form. By customising a licensed reprint, brands can ensure the focus remains on their product or service.
Another strategy is masthead licensing, a straightforward way to generate revenue for brands by allowing other brands to pay and use your logo. It’s the ‘As seen on TV’ effect, but this time it will be ‘As seen in your brand’s name’.
And these possibilities grow as consumer habits change and technology develops new ways to reach audiences. Being creative and flexible is key to a successful content licensing strategy.
5) How do I know if I already have monetisable content?
If you’re asking, then you probably suspect you have something to leverage.
Any ‘best of’ content or list can boost your brand through a licensing agreement – and bring in additional revenue.
It may seem challenging since most media publishers don’t create this type of content with the intention to license it, but a few easy questions will help you look back with a vision for
what’s licensable.
Ask yourself what kind of content you have published that features brands, and would those brands be excited about being mentioned. If you can identify a few articles, lists, or reviews,
then you probably have a case to benefit from content licensing.
So the question we now want to ask you: are you ready to diversify your revenue streams by starting your content licensing journey? If the answer is yes, then partnering with an agency like Wright’s Media is the next step.
If the answer is yes, then partnering with an agency like Wright’s Media is the next step.
Wright’s Media is the premier global content licensing agency with 25 years of industry experience guiding publishing clients. We develop cutting-edge licensing programs, apply a proactive sales approach, and elevate brand visibility by monetising content.
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