Whether you’re a licensing newbie or an old hand, dealing with ebooks, journals, magazines, images, audio or video, there are ways to make your licensing bigger and better! Here are just a few ideas to start off this new year.
License more widely:
1. More markets, more partnerships – Perhaps the quickest way to expand your licensing is to sign up with a greater number of non-exclusive digital licensees. E-vendors vary a great deal one from another, so look out for partners who will help you reach new audiences and market segments.
2. Go global – For material in the English language, the US is clearly the biggest single market around. But don’t forget that there is active demand for good quality content around the world. The more niche your content, the more likely you’ll find people reading (or listening, or viewing) in English. So, take a look at worldwide markets and explore your options.
Freshen up your licensing:
3. Check out the latest licensing models – Digital licensing models are constantly being expanded and developed, especially for library markets. Not all of them will necessarily be a good fit for you, and that’s fine, but make sure you’re up to date, and be consistent across different services and platforms.
4. Tighten up your contracts – Terminology and emphasis can vary a great deal in licensing agreements. That’s because, unlike other rights contracts, they are usually drawn up by the licensees instead of by you, the rights holders. So it’s crucial you know the effect those differences can make, and how each deal fits with your licensing strategy.
5. Consider adding a new file format – Sometimes, making your content available in another format can bring extra sales. Think about who your readers are. Which devices and platforms do they use? Could this be the right time to add fresh file format?
Deepen your content:
6. Disaggregate your content – Do you have information-rich content that can be split up into smaller chunks: paragraphs, articles, chapters? Certain platforms are looking specifically for content like this, and you might not need to do any more than provide them with your existing files.
7. Prepare more backlist and archive material – Backlist gets so overlooked in digital licensing, and it’s a pity because the work involved may not be as daunting as you think! Instead of counting up the items (images, etc) to be cleared, group them by their original source. That will give you a more realistic idea of the work involved in checking and clearing rights.
8. Don’t hide your valuables – What else could you be licensing that’s currently hidden away from digital users? Checking out the rights might not be as complex as you fear!