As an advertiser, you are a steward of your brand. That entails a lot of things—promoting a positive brand image, not compromising brand equity—and definitely not putting a brand at risk for a lawsuit. The cautionary tales of the $8.9 million jury award to Michael Jordan from Dominick’s super market chain and the more recent lawsuit brought against Chipotle Mexican Grill for $2.2 billion prove that unauthorized use is nothing to take lightly. Yet vigilantly protecting your brand is tougher in practice than in theory. As content proliferates and new channels emerge, there are more limitations on how you can use, where you can use and when you can use content. This complexity not only introduces compliance issues, but affects your ROI if you are not using content to its fullest potential.
So, why is Content Rights Management so important and what are you up against when you’re still managing it manually?
- Usage Rights are Too Complex to Be Absolutely Sure. An ad may include licensed or produced music, photos, video and brands, as well as talent such as models, actors and photographers–all of which have different contracts you must adhere to, and those may change during different stages of the production cycle. How clear are you on what is available?
- Improper Usage Kills Brands.Misuse can cost millions in penalties–not to mention firefighting and rework. Plus, the negative press associated with a lawsuit can also lead to financial loss, for both the brand and the advertising agency. Dominick’s is now a defunct brand.
- Stalled Campaigns Delay Go-to-Market. Having to peruse complex documents or track down content rights can cause costly stalls in production. The need to cross-reference between departments, for example marketing and legal, takes time and occupies resources. This can delay the time to profitability for a product, wreaking havoc on balance sheets.
- Content is Underutilized. Lack of visibility into creative inventory prohibits many advertisers from getting the most out of their investments. Many advertisers cannot clearly see what they own or, if they can, are unsure whether they can reuse it without violating their contract. To maximally monetize content, content should be available across departments and rights should be available real time, on demand.
FADEL is rights obsessed, and helps some of the world’s top media and advertising companies implement better strategies to maximize their return on investment. Visit fadel.com/advertising for more industry-specific information, or email to set up a demonstration of what FADEL can do for you.