The digital landscape has changed. Have your agreements kept up?
by: Paul Gerbino
In the cutthroat world of digital publishing, content is king. But even the most valuable crown jewels can lose their luster if you’re not actively managing the deals that govern their use. That’s right, I’m talking about those dusty content licensing agreements sitting in your legal department – the ones you signed, filed away, and promptly forgot.
This complacency is at the very least costing you money, or will eventually lead to your demise. It’s time for a wake-up call.
The Digital Landscape is Shifting – Are Your Agreements Keeping Pace?
The digital landscape is a whirlwind of change. New technologies emerge at breakneck speed, business models pivot overnight, and legal precedents shift like the sands. Your licensees are launching new products and services, while simultaneously shuttering others that have succumbed to the relentless march of innovation. On your side of the fence, publications merge, get acquired, or disappear entirely. In this dynamic environment, static licensing agreements are a recipe for disaster.
Think about it: those five-year-old deals might as well be written in hieroglyphics. Are your royalty rates still competitive? Do your usage rights account for the rise of AI and the insatiable hunger of machine learning models? Are “derivatives” even mentioned? Chances are, the answer is a resounding no.
“Content Gone Wild”: The Publisher’s Nightmare
And what about content leakage? Are you certain your carefully crafted articles and images aren’t ending up in unintended locations, running wild across the internet? This “content gone wild” (or as one of my associates prefer “content gone rogue”) scenario is a publisher’s nightmare. It dilutes your brand value, undermines your core business, and can even lead to legal headaches. Older agreements, drafted in a more innocent time, may lack the safeguards necessary to prevent this kind of unauthorized dissemination or provide legal cover.
I’ve seen it time and time again: publishers sitting on licensing agreements that are 10, even 15 years old. They remain untouched, gathering dust in some forgotten corner of the legal department. Why? Because they still generate those comforting, periodic royalty payments. “Don’t fix what isn’t broken,” they say. But what they fail to realize is that these agreements are often broken – quietly, insidiously broken in ways that erode value and leave potential revenue untapped or your business at risk.
Don’t Leave Money on the Table: Review, Renegotiate, Reclaim
Here’s the bottom line: failing to regularly review your content licensing agreements is like leaving money on the table – and potentially opening the door to a content free-for-all. Every year brings new data on content performance, market trends, and emerging technologies. This information is gold dust for publishers, allowing you to renegotiate outdated terms, optimize royalty structures, and ensure you’re capturing the full value of your intellectual property. More importantly, it allows you to rein in your content, ensuring it’s used ethically, responsibly, and within the clearly defined boundaries of your agreements.
Take Action Now: Protect Your Content, Secure Your Future
So, what does taking charge look like? First, you need to get a handle on the situation. That means digging through those filing cabinets (or perhaps, more likely, those server folders) and unearthing every single content licensing agreement you have. Once you’ve got them all laid out, it’s time for a thorough assessment. Are the terms still relevant? Are the royalty rates in line with current market standards? Do they account for the potential pitfalls of today’s digital landscape, like AI training and content leakage? Crucially, do they adequately protect your intellectual property rights and copyrights?
Next, bring in the cavalry. Find yourself a legal eagle – someone who lives and breathes content licensing and intellectual property law. These experts can be your Sherpas, guiding you through the treacherous terrain of digital rights management and making sure your agreements are ironclad. They can help you identify potential loopholes that could expose your valuable content to infringement and ensure your rights are unequivocally protected.
Armed with this knowledge and legal firepower, you can confidently approach your licensees and renegotiate those outdated terms. Don’t be shy – push for what’s fair, especially in light of new technologies and evolving market conditions. And finally, don’t just assume everything is hunky-dory once the ink is dry. Implement robust monitoring systems to keep a watchful eye on your content. Track where it’s being used, how it’s being used, and make sure it stays firmly within the boundaries you’ve defined.
Conclusion
So, ditch the “set it and forget it” mentality or risk extinction. Dust off those agreements, sharpen your pencils, and get ready to reclaim what’s rightfully yours. In the digital age, proactive content licensing management is no longer a luxury – it’s a necessity. Don’t let your content run wild; tame it, protect it, and maximize its value. The future of your publishing business may depend on it.
