Proving the ROI for Rights and Royalties Investments
Sunday, July 19, 2020
Posted by: Brian O'Leary
In June 2020, BISG engaged GiantSteps Media Technology Strategies and its principal, Bill Rosenblatt, to study the return on investment (ROI) for rights and royalties management solutions. The research, due to be completed in late September, will build on extensive research of the vendors, use cases, and implementations of solutions across a range of book publishers.
The research grows out of a survey and white paper in which BISG found that majority of respondents described rights management as “critical” or “very important” to their bottom line. The white paper also found that respondents believed improved rights management would lead to increased business opportunities with licensees.
Despite these findings, few respondents planned to make meaningful investments in the near term. From this research, it was clear that there was an opportunity to raise awareness of rights and royalties management solutions and their potential ROI.
The current study consists of three parts, the results of which will be featured in a white paper expected in September 2020. Results will also be presented via webinars and potential events following the release of the paper.
1) A market survey, including: a description of key stakeholders in rights management; a taxonomy of rights management services and solutions and business benefits of such solutions; and, to the extent possible, usage statistics of different solutions.
2) Interviews with stakeholders from both from different points in the value chain and different segments of the industry, with a view towards quantitative information that reflects business benefits outlined in the market survey. These interviews have begun, with more expected in later July and early August.
3) Case studies that illustrate a range of application types, solution types, and business benefits.
This research is a good example of work done as part of one of BISG's four core objectives. It started in the rights committee, which created the white paper on which the current study is based. Led by Tricia McCraney (Virtusales), the rights committee also developed the RFP that led to the selection of GiantSteps to conduct the research project.
The work is partly underwritten by industry partners at knk Software, Firebrand Technologies, and the Copyright Clearance Center. Additional sponsorship opportunities remain available. Anyone interested in participating, sponsoring, or with questions about the project is invited to contact the BISG office (firstname.lastname@example.org).