A few years ago, my friends at the animation studio
Mítika acquired the image rights to
Blue Demon, one of Mexico’s most iconic wrestlers
and movie stars. The plan was ambitious: turn a legendary figure into
an animated series. Contracts were signed, payments were made,
and the announcement even made it into the newspapers.
A great character deserves a great story, and the series script was written
by acclaimed young adult author Antonio Malpica.
Creatively, everything worked. Technically, everything was possible.
Business wise, not so much.
Over time, it became clear that while we could produce the series
without major obstacles, the contract left very little room to recover
the investment. The character was powerful, but the framework around it
was too tight. So we made a hard decision: we walked away and created something of our own.
That decision led to Red Legend, an action series built
around original characters we fully owned. It was presented at the
Annecy Festival film market, and it went on to attract attention in the
Asian market and, more importantly, taught us a lasting lesson about
intellectual property.
Why Intellectual Property Really Matters
When you acquire an IP, you’re not just buying a story,
you’re accepting boundaries. Some are wide open.
Others are surprisingly narrow.
Everyone has great ideas. Very few survive the journey to the screen.
When a story has already proven itself, it becomes attractive to producers.
Stephen King famously licensed some of his works to unknown filmmakers
for a symbolic dollar, simply to help them
(On Writing: A Memoir of the Craft, 2010).
The Freedom (and Fear) of Creating Your Own IP
Creating your own IP means total creative freedom and total responsibility.
You own the world, the characters, and the future of the project.
But passion doesn’t guarantee profit.
If it works, the possibilities are endless: sequels, spin-offs,
new markets—all without asking permission.
If it doesn’t, the loss is entirely yours.
There’s also another risk: originality itself.
It’s often said that all stories have already been told,
and there’s always the possibility that someone has already
explored a similar idea, opening the door to potential legal conflict.
Testing Ideas Before They Test You
Great ideas shouldn’t rely on instinct alone.
Tools like focus groups help creators listen before they launch.
From early concept art to finished pilots, testing allows you to
spot problems while they’re still fixable.
With Red Legend, we showed early character designs
to children within our target age group, which led to several
important adjustments before moving forward.
So what’s the better choice: building your own IP
or working with an existing one?
There’s no universal answer. Only strategy, timing, and clarity.
In film and animation, IP isn’t just a creative decision,
it’s a business philosophy.
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