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This week’s giant news focuses on Disney’s imminent loss of copyright protection for Mickey Mouse。

Recently，According to multiple foreign media reports，“Mickey Mouse”The 1995 copyright protection period is approaching，Disney may lose its exclusive copyright，And will enter the public domain in 2024，In the future, artists can use this IP image to create freely。

1928，Mickey, the first IP image of the mouse, first appeared in Disney's audio animation "Steamboat Willie"。Afterwards，Mickey’s copyright protection period has been extended several times。

According to the then-U.S. Copyright Act，The copyright of Mickey’s IP only has a protection period of 56 years，In other words，The copyright for the first version of Mickey Mouse expired in 1984。But in 1976 and 1997，Disney paid and joined other companies to lobby the government to extend the copyright protection period，Successfully persuaded the US government to adjust relevant bills，Extension of copyright protection period to 95 years，The 1997 one was also called the Mickey Mouse Protection Act。

Survey shows，Mickey Mouse’s brand awareness in the United States is as high as 97%，More popular than Santa Claus。Mickey appears for the first time，It was just after the war，People’s mood is generally low，Mickey is considered a symbol of hope。Since its establishment，Disney’s development has been full of twists and turns，But Mickey Mouse is the main witness of the company’s century-old history，It also brings huge wealth to the company every year。

According to statistics from the global research organization Statistia，As of August 2021，Among the world’s top ten media licensed merchandise revenue，Disney holds half of the IP，Disney accounts for 188bet online sports betting three of the top five，Disney Princess、Marvel Cinematic Universe、Star Wars and more are on the list。where，Mickey Mouse and friends tied with Winnie the Pooh for third place with $80.3 billion，The main income comes from the sale of authorized goods、Movie box office and DVD sales in home entertainment, etc.。

Unlike "Star Wars" and the Marvel Cinematic Universe, which bring considerable global box office revenue，Mickey Mouse has mainly generated revenue from the sales of licensed products from the beginning。Five years after the animated short became an instant hit，Mickey Mouse earns $1 million per year (equivalent to $19 million in 2019 dollars) from sales of licensed merchandise。

The scope of Disney product licensing is very broad，Toys、Game、Clothing、Books、Food、Interior decoration、Stationery、Knickknacks, etc.，Global licensed merchandise revenue in 2019 and 2020 reached US$54.7 billion and US$54 billion respectively，Not only has it ranked first in the world for many consecutive years，It is much higher than the retail sales income of other IP holders，For example, Warner Media, which owns Universal Studios, has an investment of US$11 billion for both years。Lego, the world’s three largest toy dealers、Hasbro and Mattel before Disney releases new movies such as "Toy Story" and "Star Wars"，Competing to obtain the latter's authorization。

Among many marketing models，Disney uses the anniversary as an excellent opportunity to promote Mickey Mouse and other IP derivatives。For example，After Mickey Mouse celebrated his 90th birthday in 2018，L'Oreal、Gucci、Global famous brands such as Uniqlo cooperate with Mickey Mouse。

March 2019，Gucci teamed up with Mickey Mouse to launch a 3D printed wallet with Mickey Mouse’s face，Sold for up to $4500。High-end milliner Gigi Burris designed a crystal beaded headpiece featuring Mickey ears，Sold for $450。L’Oreal launches a set of cosmetics with Mickey elements。Dozens of UNIQLO T-shirts with Mickey Mouse patterns on them。Apple also teamed up with Mickey Mouse to launch Beats headphones priced at $300。

This series of cross-border cooperation，People can’t help but wonder: why Mickey Mouse can change from the original field of children’s animation，Successfully crossed over into various adult products？Mickey Mouse becomes“Disney’s best salesperson”What is the story behind it？To know，Mickey Mouse is an enduring image，But why are animated images also popular around the world，Ariel in "The Little Mermaid"，Anna in "Frozen"，But it rarely appears in products for adults?

According to the Wall Street Journal，Mickey Mouse and his friends (including Minnie)、Gao Fei、Pluto and Donald Duck) generated $3 billion in merchandise sales revenue in 2018，However，This sales revenue is only half of 2004，Because Disney made greater promotion and investment to celebrate Mickey’s 75th birthday。

Even if Disney loses 188bet sports betting app download the original Mickey Mouse trademark，But the company still holds the copyright of various characters evolved by Mickey Mouse and various trademarks related to Mickey Mouse。Over the years，Mickey Mouse and his friends have been changing their images with the times，Each version is an independent intellectual property，They are all giving images to IP characters who are about to pass“Continue life”，And finally，These rights are still in the hands of Disney。

Also，The value of IP has a strong correlation with the brand，Mickey entering the public domain，The first thing people think of is Disney，Instead of other animation brands such as DreamWorks。

Except income from various authorized products，Mickey’s greater influence lies in，The image of this IP appears in various Disney parks around the world。

Whether it is Mickey Mouse landscape design in the park，Disney picking up tourists“Mickey”Employee，It’s still the existing or new Mickey in the park&Minnie-themed rides，1 before the epidemic.500 million people visited Disneyland，Such influence will not disappear just because the copyright expires。

This year marks the 50th anniversary of the opening of Walt Disney Resort and the 30th anniversary of Disneyland Paris，Celebrations last up to several months，Even in more than a year，Disney usually launches derivative products of various IPs such as Mickey Mouse，Disney merchandise including Mickey Mouse is expected to be a big seller。

188bet sports betting app download the original Mickey Mouse rights held by Disney will expire in 2024，This classic character image will gradually enter the public domain，Similar Disney IPs include Donald Duck that expires in 2029、Snow White and the Seven Dwarfs expired in 2032、2036 expired Dumbo, etc.。However，Although the classic IP copyright will expire，But the image of classic IP has long been in people’s hearts。Mickey and his friends，And other Disney IP whose copyright is about to expire，Related authorized product revenue may decrease，But these IPs continue to bring high-quality services to Disneyland visitors，Continue to create more value for Disney，This theme will not change for a long time to come。

Destination Investment Barometer

This week’s destination focuses on the second anniversary of the implementation of the new tax-free policy on Hainan Islands。

July 3，Data released by Haikou Customs，From the implementation of the new tax-free shopping policy on Hainan Islands on July 1, 2020 to the end of June this year，The amount of duty-free shopping on outlying islands under customs supervision is 90.6 billion yuan、Number of pieces sold 1.2.5 billion items、12.28 million shopping tourists。According to customs introduction，The average daily shopping amount of duty-free in Hainan Islands reaches 1.2.4 billion yuan，An increase of 257% compared with before the implementation of the New Deal。

The average daily shopping amount of duty-free in Hainan Islands reaches 1

Hainan’s strategic positioning 188bet sports betting app download is to build an international tourism consumption center，Build a free trade port，Tax-free undertaking of overseas consumption return。The 2021 global luxury market research report released by Bain Consulting shows，Before the epidemic，Chinese people spent more than 430 billion yuan on luxury goods overseas。The tax-free shopping amount for two years has not exceeded 1,000 yuan，Less than a quarter of Chinese overseas spending，This shows that the domestic duty-free market is still in the process of further expansion，There is still a lot of room for expansion。

Also，Official data released by Hainan Province in 2021，The total sales of 10 outlying island duty-free shops exceeded 60 billion yuan last year，84% year-on-year increase，967 of which were duty-free shopping.660,000、Number of duty-free purchases 5349.250,000，A year-on-year increase of 73% respectively、71%。The effect of releasing domestic consumption potential and returning and transforming outbound tourism consumption，Already more obvious。

Market share exceeds 90%，Even the leader in the entire domestic duty-free market，Market share exceeds 90%，China Duty Free’s performance in the past two years best reflects the situation of this market，The company’s current actions are also likely to represent the prospects for the development of the duty-free industry。

2019 to 2021，China Duty Free’s revenue increased from 48 billion to 67.6 billion，The two-year compound growth rate is 18%；Net profit increased from 4.6 billion to 9.6 billion，The two-year compound growth rate is 44%，Excellent performance since the epidemic。

The company’s latest financial report shows，The most important projects of China Duty Free include Sanya International Duty Free City，The first phase opened in September 2014，Building area 120,000 square meters，Currently the largest single duty-free shop in the world；The second phase of the Hexin Island project will open in January 2020，Building area 6.50,000 square meters。Currently planning is the Sanya Phase 1 No. 2 project，Planned investment 36.900 million yuan，Building area 17.250,000 square meters，Can handle more passengers。

Compared with the expansion of Sanya International Duty Free City，China Duty Free’s biggest achievement is the new Haikou Duty Free City。Haikou International Duty Free City is scheduled to open in September 2022，Organically combine duty-free shopping with vacation-type business activities，Create a large-scale one-stop comprehensive tourist destination。Project Investment 128.600 million yuan，After completion, it will become the world’s largest duty-free mall。

No matter the floor area，Still the investment amount，Haikou Duty Free City project is large in size，It is possible to transform into an entertainment shopping mall。As understood，This project has added &ldquo internally;Ice and Snow World”Amusement Facilities，Also opened 188bet Online Sports Betting and Casino a theme indoor park，These are entertainment experience projects，Extend visitor stay，Increase the repeat visit rate of local tourists。Obviously，This kind of project does not just attract tourists to come and shop，Towards the current domestic cutting-edge cultural, business and tourism complex direction，Bring tourists a better shopping and vacation experience。

Long term，China Duty Free has realized the layout of two heavyweight duty-free cities in the north and south of Hainan Province，Conducive to the company's business collaboration。After the opening of Haikou International Duty Free City，CDF’s dominance in the Haikou market is expected to be further strengthened，Its offshore island duty-free market share may increase again，or above 95%。 

Secretary of the Hainan Provincial Party Committee once said，I hope that the duty-free share of Hainan’s outlying islands can account for 10% of the total tax-free consumption of Chinese people in 2022，That is about 100 billion yuan；Hope to attract 300 billion yuan of duty-free shopping return during the 14th Five-Year Plan。

Facing such a huge market space for imagination，By extension，Under new market opportunities and new challenges，As the parent company and backer behind China Duty Free，China Tourism Group has strength，There are also more demands for more projects to be launched in the domestic duty-free consumption (potential) highland，Extend business reach to markets outside Hainan as soon as possible“Plunge in”。Hainan is still the most important position，But a city with outstanding domestic consumption power，It will also be an important area for domestic duty-free companies to seize the market。

For example，The Guangdong-Hong Kong-Macao Greater Bay Area as a regional economic development、A typical highland with outstanding economic vitality and consumption power，In addition, it serves as a sea, land and air transportation hub，This is the most active place in the country、One of the most stable tax-free consumer markets，It also has the advantageous basis for developing a tax-free economy，Build a new duty-free complex here，It is expected to realize the correspondence between existing demand and new supply，Realize local transformation of tax-free consumption。

The rapidly developing tax-free market in the country，First launch (first store) economy、Brand Economy，Is one of the key points of competition in the construction of an international consumer center city，The logic behind this lies in typical new traffic、New product supply，The core of supply lies in quantity、Quality、Price advantage (all three or differentiate one of them)，The duty-free complex helps to provide new entrances in the supply of new products。

The domestic duty-free market demand is relatively strong，Major players are expanding rapidly，The future is bright，But there are also some potential 188bet sports betting app download risk factors worth paying attention to。

1、The repeated uncertainty of the epidemic has caused the outlying island duty-free shops of China Duty Free to be unable to operate，Restrictions on inter-provincial travel have also led to a sharp drop in tourists，The company’s net profit from January to February is approximately 2.4 billion yuan，A year-on-year increase of about 20%，But March and April were greatly affected by the epidemic，Although financial data has not yet been released，But a decline in growth may be inevitable。

2、After Hainan policy is liberalized，Intensified competition。Whether it was the start of construction of the first duty-free complex in the Guangdong-Hong Kong-Macao Greater Bay Area at the beginning of the year，Haici Group recently planned to acquire part or all of the equity of Hailv Duty Free，Add Wangfujing、Zhuhai Duty Free、Hainan Development、Local licensed competitors such as Hailv Duty Free，It is expected that there may be more state-owned enterprises or giants taking a share of the Hainan duty-free market in the future，Competition may further intensify。

3、After the epidemic，More people go to airport duty-free shops to buy，Reduce duty-free business on offshore islands。As overseas tourist destinations relax travel restrictions，Open borders to international tourists，Currently Thailand、Japan has already welcomed the arrival of Chinese tourists，Including airport duty-free and other overseas consumption，Be prepared for everything，The liberalization of outbound travel in the future may reduce the attractiveness of Hainan’s outlying islands for duty-free purposes。