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marketers. It is Wednesday, December 25th, Merry Christmas. As we all know, most movies these days, at least the ones in theaters, are based on known intellectual property, whether it's a book or a toy or a Broadway musical or a video game or a previous movie.

Known IP is the single best indicator of whether a piece of entertainment will be a hit or not.

So IP procurement and management is

thus the most important skill in the modern entertainment business. I realize that IP procurement

is a cynical way to talk about making art, but whatever, it's a cynical business. This is a cynical

show. Merry Christmas. One genre of IP-driven project that is kind of flying under the radar,

though hugely successful, is the musical biopic. We don't usually think of these movies like

Bohemian Rhapsody or Straight Out of Compton or Eight Mile or this year's Bob Marley One Love as

IP-driven movies like a Marvel movie or things like that, but they very much are.

Those music rights are incredibly valuable, and thanks to copyright law, they are necessary

to execute movies about those musicians, meaning the producers who can regularly secure

these rights are probably going to be successful in getting projects made.

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