The cultural products industry is witnessing a renaissance of sorts and growing in popularity among Chinese consumers, but there are still problems yet to be solved such as building strong intellectual property, industry experts said.
The National Museum of China, for instance, has worked with over 100 companies and developed about 400 collaboration products. In 2018, the museum generated revenue of over 10 million Yuan (USD1.41 million) from its IP licensing.
According to Tmall, over the next three years, the platform will introduce more than 10,000 brands and work with museums from all over the world. So far, several foreign museums, such as the Winter Palace in Russia and the Museum of Fine Arts in Boston, have expressed interest in joining hands with Tmall.
In terms of IP building, for many museums, galleries and libraries having no nationally known IPs, the best way is to form alliances.
Source: China Daily
