Spurred by a year of lost income and visitorship, a growing number of museums are rallying around a fresh source of revenue: cultural licensing. In particular, the Chinese market — where museum IP retail generated some $100 million in 2018, representing a fast-expanding segment — has presented Western institutions opportunities to reach a young demographic of consumers with savvy and avid cultural appetites. Most recently, museums’ cultural products dominated Tmall’s Double 11 shopping event, with sales growing by 400 percent year-on-year.
And it is in China that the Victoria & Albert Museum, National Gallery, Van Gogh Museum, and the Museum of Fine Arts, Boston, among others, have established IP partnerships with agencies such as ARTiSTORY and Alibaba Group to capitalize on their cultural IP and amplify their retail presences. And these deals have prevailed: in 2018 alone, the British Museum reported earnings of almost $30 million through its partnership with Alfilo Brands.
This flourishing IP space forms the focus of Jing Culture & Commerce’s new report, How Museums Can Tap Into China’s Thriving Licensing Landscape. Featuring successful case studies and expert interviews, the report explores the ins and outs of IP-centered partnerships, their role in branding and marketing, and how they can help museums better navigate China’s cultural retail environment. Readers can gain pointers and strategies, including:
- The value of leaning into cultural IP licensing
- How cultural products and experiences engage Chinese cultural consumers
- How Western museums like MFA Boston, the V&A, and Van Gogh Museum have leveraged their IP in China
- What to look for in an IP partnership
- The agencies behind cultural products, including ARTiSTORY, Rioni Group, and Alibaba Group
For international museums hoping to engage cultural audiences in China, this free report aims to provide an essential guide to a sector that’s growing increasingly robust and lucrative.