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In time for the recent licensing expo, Total Licensing released their Summer 2024 Issue of Total Brand Licensing, a periodical magazine dedicated to brand and brand extension licensing.
In this issue, ARTiSTORY Founder and CEO Daniel Yizan He talks about the emerging trend of museum and heritage IP licensing. This niche sector has seen remarkable growth, particularly in China, where it now accounts for 18% of the licensing market. The surge is driven by the rising demand from the middle class for culturally relevant products and the effective use of storytelling in marketing.
Museums and heritage organizations possess a wealth of knowledge, allowing them to transform artifacts into merchandise that resonates with consumers. Engaging storytelling techniques, such as live streaming from museum galleries and behind-the-scenes content, have proven successful in enhancing consumer engagement and driving sales.
ARTiSTORY believes that the storytelling success seen in China can be replicated globally. By leveraging the authenticity and educational value of museum narratives, brands can create meaningful connections with their audiences, creating strong brand loyalty. ARTiSTORY exemplifies this approach, with numerous successful collaborations with cultural institutions worldwide, including the British Library and Centre Pompidou.
The world of IP licensing has long been dominated by the usual suspects – entertainment IP, cartoon IP, and fashion labels. However, a niche licensing category has emerged as a surprising powerhouse in recent years: museum and heritage IP.
Historically, this segment accounted for a mere 2% of the global licensing market share. Yet, in China, the story has taken a remarkable turn. Data from LIMA China reveals that museum and heritage IP now makes up a staggering 18% of the country's total licensing market as of 2021 – a meteoric rise since 2016. It is worth noting that both Western museums and Chinese museums have jointly contributed to this phenomenal growth in China, with examples including the V&A, the British Museum, the Metropolitan Museum of Art, and China's Dunhuang and Palace Museum.
What's behind this unexpected growth?
