In my latest exploration of intellectual property (IP) dynamics, I’ve uncovered intriguing facets not previously touched upon. Allow me to share several insights through this piece of writing, hoping those would be valuable to you, the reader.
You might be wondering, why the emphasis on the immense potential of intellectual property? The answer lies in meticulous research we’ve undertaken, revealing IP’s remarkable scalability. Scalability in this context means the capacity to burgeon into a business on a far grander scale than its initial conception. Two paths stand out for IP development: the realm of entertainment and media, encompassing film production and advertising; and direct entry into the licensing domain, becoming entwined in the economic cycle stemming from licensing activities.
Upon rough calculations employing secondary data, these two paths alone could propel the potential value of IP in Indonesia to a staggering 300 trillion rupiahs by 2025, representing approximately 15% of the national budget. A conscientious pursuit of IP development holds the promise of substantial economic impact. However, a stark reality looms – a significant chunk of this potential, around 99%, may be claimed by foreign IPs and large media conglomerates, leaving local IPs and creators with less than a 1% share. Imagine the transformative effect if even a fraction of this wealth, say 10%, could empower local IPs and creators, catalysing a boon for the MSME economy. The economic strides achieved by homegrown talents could be monumental.
The IP market is undeniably vast, yet its development in Indonesia remains sluggish compared to the swift and significant growth experienced by foreign IPs. What impedes this progress? A key factor is the lack of understanding among many investors who acquire works from creators without fully grasping the potential of the IP they’re investing in. Creators, enticed by monetary offers, often part with their creation, only to find themselves detached from the asset once it reaches its full potential. This unfair transaction stifles creativity, hindering creators from reaping the financial rewards of their labour.
INFIA Group, born from a community of creators, resonates intimately with these challenges. Our mission is to establish a fair system where creators retain control and financial benefits. When a creator joins INFIA, they become an integral part of our ecosystem. We facilitate their rise by providing direct support and connecting them with established pioneers. Leveraging our substantial following of 80 million, we amplify their presence, making them widely recognized. Additionally, we share our wealth of experiences, learned from both successes and failures in various business dealings, ensuring new creators don’t repeat past mistakes. Our commitment extends beyond mere assistance; we aim to guide creators through uncharted territories, fostering their growth.
I am optimistic that this movement will gain traction among creators, funders, fintech entities, IP managers, and all stakeholders invested in local IP development. Through collective efforts, Indonesia’s IP industry can catch up, mirroring the successes seen in the music and film sectors, either indie or major label.