PipingHotPiccolo said: "Sorry Hogan but i think it was perfectly clear that Johnny was comparing K-Pop--a story about....i have no idea, and the marketing just says Korean pop-star teenagers--with Moulin Rouge, &Juliet, Neil Diamond---all of these feature recognizable stories, songs, catalogues, etc. K-Pop very well may be brilliant (except everyone says its not), but it did not have big name IP to sell it. It needed/needs something more to convince ticket buyers (and even bway nerds like me) to show up.
And IP means intellectual property, so I don't even know what semantic point you were making here."
IP means patents, trademarks, and copyrights. If that's not what the other person meant, then fine. Beyond that, you use "recognizable" to mean "recognizable to me and perhaps the folks being targeted by the marketing." That's a different subject that the one articulated and of course there is no question that, at least as of now, the production is not tapping in to a sustainable market. Finally, a "property" in theatre vernacular refers to a source material like a play (for a musical), a movie, a book, etc. but not just stories, songs, and catalogs. But perhaps, as you say, this is all semantics.