[citation needed] A format is licensed by TV networks, so that they may produce a version of the show tailored to their nationality and audience.
Format purchasing is popular with broadcasters, due principally to the lower risk associated with an already-proven idea and the preference of audiences to watch programming tailored to their locality.
[citation needed] Examples include Survivor, Who Wants to Be a Millionaire?, Pop Idol and Big Brother that have all proven successful worldwide.
Leading companies that handle the creation and sales of programming formats include Warner Bros. International Television Production, ITV Studios, Talpa, Endemol Shine and Fremantle.
as a form of intellectual property (IP), and are regularly bought and sold by TV producers, distribution company and broadcasters.