In its latest budget, the Hong Kong Government outlined its aim of increasing the reach and commercial value of cultural intellectual property (IP) by supporting more than 30 such projects over the next five years. In fact, since the Chinese Government’s gift of two giant pandas to Hong Kong last year, discussion has been underway about developing an ‘IP economy’ to revitalise consumption and tourism.
As a critical vehicle for the commercialisation of IP, the event planning sector can not only promote IP products to a wide audience but also add IP elements to events, leveraging their popularity to create synergistic effects, enhance brand influence and achieve sales.
Early this year, the ‘Kaohsiung Winter Wonderland’ lantern festival in Taiwan collaborated with ‘Chiikawa’, a viral Japanese IP. At the event, large inflatable installations, themed light shows, amusement park attractions, food markets and water sport activities for all ages were inspired by the IP. This multifaceted approach helped to attract over 3.2 million visitors.
Cross-sector collaborations between event planning and IPs can leverage IPs’ basic popularity to generate buzz and increase reach. Recently, Pico activated the ‘Batman vs Bateman’ campaign for State Farm Insurance in the USA by inviting popular streamer Kai Cenat to interact with viewers via live games. A sweepstakes and Batman-themed merchandise were used as incentives for viewers to register on a dedicated microsite. These interactive elements laid the groundwork for the premiere of a humorous insurance-themed video featuring both the Batman IP and actor Jason Bateman, leaving a lasting impression on viewers. The project ultimately attracted over 20,000 user registrations, with a total social media reach of 124 million.
While the appeal and recognition of popular IPs certainly helps to attract audiences, converting their influence to enhance a brand image requires event planners to combine data-driven insights with integrated cross-sector resources. They must also creatively design activities that are highly compatible with both the IP and the brand in order to generate buzz, increase audience affinity with the brand, and convert it into sales.
