If you’re a publisher or any type of content creator, you’re likely generating your current revenue the traditional way with newsstand sales, advertising and paid subscriptions. But have you considered other ways you could be generating an additional revenue stream?
In order to be truly successful, you must diversify your revenue. Think of content licensing as another piece of the puzzle.
What is Content Licensing?
Content licensing is the process of selling the use of your assets. Your logo, awards, reviews, pull quotes, reprints and e-prints are all valuable assets that you could be monetizing. Don’t believe us? According to Nielsen, earned media is the most trusted form of advertising.
Why Should I Partner with a Content Licensing Agency?
1. Generate New Revenue At No Cost
We know what you’re thinking: “When will I break even?” When you partner with us, you are profitable on the first sale.
If you’re still thinking of launching your own in-house content licensing program, consider the upfront investment in time, money and resources it will take before you break even.
Recruiting: Think of the time it will take to recruit, interview and onboard new employees. In order to find the right talent, will you need to outsource a recruiter or pay to sponsor your job postings?
Compensation: You will most likely need to hire around 4-5 people to manage your content licensing and pay them salary, commission and benefits.
Training: The new employees will need to be trained by current employees, which will take time away from revenue generating opportunities.
Production costs: If you don’t have an in-house printer or design team, you will have to purchase these services as well.
Do yourself a favor and choose an agency that is knowledgeable in your industry and who specializes in content licensing.
2. Dedicated Sales, Marketing & Client Success Team
There is no downtime when you hire an agency. Our experts are dedicated to your success and satisfaction and take pride in the quality of our work. You will have a team of researchers, graphic designers, content licensing sales managers and a client sucess manager to help you with the process from start to finish. We guarantee to lower costs, deliver a short production time and streamline the proposal process without delays.
3. Recommendations and Strategy
One of the most important aspects of your process is a strategy. When you work with Wright’s Media, not only will you get a personalized strategy for your business, but we will also provide recommendations for repurposing existing content and developing new content.
When you choose us as your content licensing partner, you could experience 34% growth in the first year of our partnership. If you’re ready to take your revenue to the next level, give us a call.