Wise Buddha

Product licensing is close to our hearts at Wise Buddha Towers as I used to be a Board Director of the largest licesning agency in Europe - Copyright Promotions Group. The IMG of the entertainment business if you like. In my time I have been responsible for brands such as Star Wars, Marvel - Spiderman, Hulk et al, Scooby Doo, Elvis and Star Trek to name a few.

So I am always interested when an announcement is made that a new licensed product is due to be launched particulalry when it features icons such as Marilyn, Elvis and now Jimmy Hendrix. Licensing is big business just ask Kurt Kobain and Elvis who make much more now they are dead. So the latest is that a company called Beverage Concepts has licensed the rights to launch a Jimmy Hendrix ‘Liquid Experience’ drink in April.

I can tell you before even seeing it that it will be crap, ‘classic’ property rights like these require careful nurturing in order to provide their owners with long term annual revenue. If I was managing Jimmy Hendrix’s estate or was their licensing agent there is much more money to be made by focusing on the high end, limited edition collectables market developing quality products that at least have some brand fit.

Apparently Jimmy’s fans are unhappy, I don’t blame them because this product category verges on mismangement of the rights. Flea from the Chili Peppers sums it up the best “To see his image and the beautiful feelings it has created in me cheapened by advertising is very disappointing”. I don’t have a problem with the advertising bit as long as it is appropriate it seems that as Hendrix’s image has also been licensed for products including baby clothing, an air freshener and a lava lamp they really need some guidance. The fact that portions of the royalties have gone to several educational causes, according to Bruce Kuhlman of Authentic Hendrix, the Seattle-based company that controls the rock star’s name and image is no excuse.