The Themed Entertainment Association (TEA) hosted an afternoon educational session at the Euro Attractions Show (EAS) in Barcelona this week.

During the seminar, speakers from a range of backgrounds, including operators, designers, economists and IP owners, addressed the topic of 'The Art of Storytelling and Creation with New and Existing IPs'.

Boosting attendance: Natalia Bakhlina and James Kennard of Leisure Development Partners (LDP) gave a presentation that detailed the different ways IPs can be used in attractions and can be used to create a buzz and differentiate a park from competitors. Though there can be many pitfalls for operators, LDP's research concludes that the right IP can boost income by up to 30 per cent and attendance by up to 20 per cent, "creating a significant uplift in 'entertainment value'" for their park.

Expanding your IP: Katja Ikaheimo-Lankinen, owner of Santa Park in Finland, described her own experiences as an operator who has created a unique IP with her theme park, and the careful consideration that went into deciding to allow a partner to build a Santa Park in China.

"It's about the safety of the brand," said Ikaheimo-Lankinen. "We did eight feasibility studies before finding the right partner. In China, real estate has to include entertainment, but that means some investors don't care that much about the IP. It's important to find someone who will take care of your brand and to take care of that business relationship."

Attracting a specific group: Tobias Mundinger, product manager IP and licensing, Europa-Park, shared some insights into the German attraction's decision making around its Arthur - In the Minimoys Kingdom themed land.

Choosing film director Luc Besson's Arthur IP may not have seemed an obvious choice for Europa-Park's customers in Germany, where the animated character is not that well known. However, the decision was part of a wider strategy to increase the number of French visitors coming to the park.

According to Mundinger, as well as having a strong brand presence in France, the IP fits the theme park's image, has vast merchandising potential and sustainability, for example, with an Arthur TV series coming soon.

Creating your own IP: Europa-Park sister company MackMedia is also developing its own IPs in house, such as Happy Family 4D, which has been licensed to Warner Bros for a feature film that will be released on the big screen in Q3 2017.

Nick Farmer and Rosalind Johnson from Timbalaya, a new IP that's a magical story-led adventure play experience, also talked about the advantages of developing your own IP from scratch. The company founders wanted to co-create the experience with children, and were able to host workshops and activities that informed the development of their product.

Working with IP owners: Gerald Raines, senior vice president of global recreation business development at Nickelodeon/Viacom, gave a candid presentation about what to expect when working with an IP owner. As a brand with IPs in existing attractions worldwide, Raines pressed the point that it's vital to choose the right IP partner.

"When you license an IP as a park owner, you're taking all the risk. You're investing the capital, building the attraction and paying a heavy license fee. But what does the IP do for you and which IP will drive your business?" Raines said.

Raines summarised three important points that operators need to be able to prove before they even will be considered as a partner by an IP owner: that they have the financial wherewithal, that they control the land and that they have the operational expertise.

Raines detailed many elements of the vetting process that potential Nickoldeon partners have to go through and the types of terms the operator would find in an example contract. According to Raines, it can be a long a complex process, but that's because "IP is everything to the IP holder."