Entertainment
What Is IP in Hollywood?
Discover what Intellectual Property (IP) means in Hollywood, why studios are obsessed with it, and how it's reshaping the film and TV landscape.
What is it?
Intellectual Property, or IP, in showbiz refers to the ownership of creative works and their associated characters, stories, and worlds. This includes everything from comic books and novels to video games, toys, and even podcasts. Unlike an original screenplay, IP is a pre-existing asset that a studio can purchase or license with the goal of adapting it into films, TV series, theme park attractions, and merchandise. Essentially, it's the foundational concept or universe upon which a media franchise can be built.
Why is it trending?
IP is Hollywood's biggest currency because it represents a perceived safer investment. Properties with a built-in fanbase, like 'Harry Potter' or 'The Last of Us,' come with a pre-existing audience, significantly reducing marketing risks. In an era of billion-dollar blockbusters and intense competition from streaming services, studios prioritize the predictable returns of a known entity over the uncertainty of an original idea. This has led to a gold rush for any IP with brand recognition, fueling massive franchise universes like the MCU.
How does it affect people?
For audiences, the focus on IP means a steady diet of familiar characters and stories through sequels, prequels, and reboots. While this provides comfort and excitement for fans, it also sparks debate about a decline in originality in filmmaking. For creators, this climate can make it challenging to sell original scripts, as studios increasingly favor adapting proven material. This shift fundamentally shapes the content we see, prioritizing franchise potential over standalone stories in mainstream entertainment.