The Insights Family is launching a ground-breaking new tool: the IP Index.
The IP Index enables brand owners, brand partners and retailers to identify the performance of their IP in relation to thousands of others, across multiple media types.
The tool provides data to identify new partners, spot opportunities, benchmark properties and engage stakeholders, with high-quality and independent data, providing context and insight to a property’s audience.
The Insights Family 2021 Industry Report found that “Identifying new IP” was the No.1 licensing-related issue businesses are facing, with almost 7 in 10 organizations citing this.
To address this challenge, research and data science teams collaborating with brands, partners and retailers have identified key metrics to measure performance. The beta version of the tool presents data through a dynamic league table and provides an independent score based predominately on The Insights Family propriety data as well as utilizing data from API sources such as Google and YouTube.
“For years, the licensing and consumer products industry has relied on historical sales data. Considering the speed of change in kid’s attitudes, behavior and consumption and the advent of so many new properties – this does not seem fit for purpose,” says Nick Richardson, chief executive officer and founder, The Insights Family. “We have made it our mission to understand the industry’s needs and develop a tool, which looks at future demand and will ultimately enable industry professionals to compare Batman, FC Barcelona, ‘Cocomelon,’ ‘Ryan’s World’ and ‘Fortnite’ side by side.”
“The IP Index utilizes our own proprietary data but also API data to score each property. The first three of the scores are based around a traditional purchase funnel – Access & Demand, Engagement & Interest and Purchase & Consumption. However, with kids having a far greater desire to co-create and co-commercialize – our methodology also provides a fandom and advocacy score as well,” says Richard Wainwright Meng, principal data scientist, The Insights Family.
The IP Index Beta (across 17 countries and four media types) is now available for all clients and partners in Portal 4.0. To celebrate the launch of the tool, The Insights Family has released a new report, highlighting the top performing brands according to the IP Index.
The report is available to download at: get.theinsightsfamily.com/ipindex