As rights usage terms become more and more complex and the volume of licensed content grows, maintaining manual processes is becoming increasingly expensive for organizations. Competition is intense, and top advertisers are realizing that efficiencies in rights management can help them stay ahead of the game in terms of operations, administration, revenue generation, and brand management. These 6 factors are costing advertisers money—unnecessarily. A comprehensive, scalable rights management system can eliminate these 6 costs and more.
- Litigation Fees Fees for the unauthorized use of content can be steep, and do unquantifiable damage to your brand. A California woman filed a lawsuit again Chipotle Mexican Grill for more than $2 billion for unauthorized use of her image in their advertising. Michael Jordan was awarded $8.9 million for the unauthorized use of his image in Dominick’s super market chain ads. These are numbers that can do real damage to brands and their stakeholders.
- Rework Costs One of the biggest measurements of whether a campaign development was successful is whether it came in on time and on budget. When a rights issue arises at the 11th hour, rework can blow both budgets and timelines.
- Overage Payments to Talent Having authorization to use an asset like a photograph, for example, carries its own rights terms, however the talent depicted in the photograph may have a separate agreement in place. One of our clients reported paying tens of thousands to a model for a billboard that was not taken down within the scope of the usage timelines in the talent agreement.
- Overlooking Existing Assets If you have a clear idea of what you own and how, when and where you can use it, there may be no need to hold a photoshoot or license more content. That savings on staff time, studio rental, model payments, wardrobe and makeup costs, photographers, license agreements and other associated costs add up quickly.
- Delayed Time to Market When creative teams put together a master piece of content, they need to check on a multitude of usage parameters, including region, timeframe, medium, and talent agreements. This is typically done manually, and often must go through a dedicated resource, team, or agency responsible for content clearance. That manual process often requires digging through metadata fields or interpreting legalese in large documents. This creates a bottleneck, slowing down the process and introducing the possibility of human error.
- Lack of Analytics Many distributed teams have no way of seeing what talent and assets are being used, how and when. A rights management system with built-in analytics can give creatives an at-a-glance view of popular assets or popular talent so they can extend rights to successful content, better negotiate contractual terms, and optimize their spend on licensed content.
FADEL Rights Cloud is the only product on the market that automates the talent and asset rights clearance process so advertisers can get the “rights” answer in real time.
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