Chingari and Koinange Records collaborate on Licensing deal, Netflix and Sony Strike Groundbreaking Licensing deal, Benetton India and Timex ink Licensing deal, WhatsApp announces eCommerce Friendly Business Features and The Integration of Social Media and eCommerce.
Chingari and Koinange Records collaborate on Licensing deal
Chingari, the India-based short video app, has struck a licensing deal with Koinange Records and the alliance is said to promote localised content in every language on the video app. Koinange records is also set to collaborate with independent artists across the country as well as popular artists of every genre of music. The spokespersons for both Chingari and Koinange have also commented on their plans to connect with brands, artists and online users and create a new wave for the youth of the country.
Netflix and Sony Strike Groundbreaking Licensing deal
The streaming giant Netflix and Sony Pictures Entertainment have signed an exclusive licensing deal granting Netlflix an 18-month window for streaming Sony Films, including top titles such as Spiderman, Venom and Bad Boys starting in 2022. As per the deal, new titles are set to drop on the Netflix platform right after their theatrical release and the OTT giant would have the first opportunity to release other Sony film projects in the future. The deal between Netflix and Sony has also replaced a longstanding output arrangement of Sony Pictures with Lionsgate’s Starz dating back to 2005. From the revenue perspective, the deal has proved to be mutually beneficial to both parties especially for Sony that has no subscription model of its own. The first look-collaboration is set to rival against other content distributors and streaming platforms as Sony Entertainment is also said to be engaging in direct-to-streaming ideas with Netflix.
Benetton India and Timex ink Licensing deal
The fashion brand Benetton has entered into a licensing agreement with Timex to release a fresh and exclusive line of watches. The creative inspiration for the watches is to be drawn from the Benetton Colours and the product designing, manufacturing and distribution is to be carried out by the Timex team. The exclusive watches will fall under four distinct categories such as “Sporty, Social, Signature and Iconic” and would be an entirely sustainable collection. The spokesperson for Timex also remarked that the partnership with Benetton is a leap forward into millennial fashion and is said to target markets in Metros, Tier 1 and Tier II Cities.
WhatsApp announces eCommerce Friendly Business Features
The Facebook-owned messaging application WhatsApp has expanded its platform to include new features for business users. In 2019, WhatsApp introduced Catalogs allowing businesses to create menus for their products. The new updates are set to support more business-friendly use of WhatsApp Catalogs and permit users to temporarily hide items that are unavailable or out of stock. Additionally, the update would authorise businesses to work from their desktops and the storefront feature brings WhatsApp to the same level field as the other virtual delivery service competitors.
The Integration of Social Media and eCommerce
The introduction of shops to both Facebook and Instagram has widened the scope of social media platforms and has permitted the flux of e-commerce. The online marketplaces have been popular with target demographics such as millenials and GenZ and have allowed retailers and sellers to advertise beyond redirect ads. With the onset of Covid-19, the market for online shopping has drastically increased and star players including Tik Tok have decided to dive into the e-commerce pool to compete with Facebook and Instagram. The popular app for innovative ideas, Pinterest is also set to join the e-commerce trend. Building solutions for easier communication on social media platforms such as using Artificial Intelligence (AI) chatbots would meet the requirements of functionality and usability in the future. The global e-commerce market is predicted to grow at a rate of 31.4% as early as 2027.
Authored and compiled by Neharika Vhatkar (Associate, BananaIP Counsels) and Sanjana Rebecca (Legal Intern)
The Licensing and E-Commerce News Bulletin is brought to you jointly by the E-Commerce Law and Consulting/Strategy Divisions of BananaIP Counsels, a Top IP Firm in India. If you have any questions, or need any clarifications, please write to [email protected] with the subject: eCommerce News.
Disclaimer: Please note that the news bulletin has been put together from different sources, primary and secondary, and BananaIP’s reporters may not have verified all the news published in the bulletin. You may write to [email protected] for corrections and take down.