Launching a version of your magazine on distant shores can be daunting, reports The Media Briefing, but as long as you pick the right partners and do your research – it could be a good way to make more revenue out of your brand.
It asked for some tips on licensing magazine brands abroad from Joanna Alexandre, head of licensing and syndication at Immediate Media, and Haymarket licensing director Jim James.
Know who you are working with
Knowing who will be publishing a local version of your magazine is vital. The bulk of these deals are done on a licence basis, where the brand owner gives a partner the right to use a brand, layout and content for a set period in return for a fee or share of revenue.
Immediate – which contains what used to be BBC Magazines – has launched titles such as Top Gear and Lonely Planet Traveller in territories as diverse as Brazil, Australia and China. Alexandre told me about the stringent due diligence process to protect its brands. That process includes:
- Check your partner’s brand: Alexandre says researching the reputation of prospective partners is particularly important when working with the BBC brand: “We wouldn’t want to publish with someone who has a pornography arm, for example.”
- Check the editor: Immediate has a contractual right of refusal over the partner’s choice of editor.
- Check what you are going to get: Immediate requires the partner to provide a business plan for five years, competitor analysis and a mock-up first edition.
For publishers and media owners looking to take the first steps towards international expansion, the FIPP WMM Guide provides an invaluable introduction to the world of licensing and syndication. From finding the perfect partner and negotiating the contract, to syndicating digital content and licensing websites, the WMM Guide offers insightful and practical advice from industry experts and a step by step guide to international success. Visit www.fipp.com/publications/WMMguide for more information or contact Claire Jones.