What the Valiant Movie Deal Means for Comics, Movies and You

By Gamal Hennessy

One of the bigger pieces of entertainment industry news this week focused on the deal between Valiant Comics and a Chinese based company called DMG. The details of the deal haven’t been made clear, but the initial reports suggest DMG has pledged to invest “a nine figure sum” in creating a film and TV universe for Valiant properties. (See Valiant Entertainment Gets Nine Figure Funding for Movie Division)

Paying the Money

In any licensing or production deal, there are at least two sides to the story. On one hand, you have DMG who appears to be trying to get a slice of the lucrative shared universe pie, but it is hard to understand their motives at this point. Why would a Chinese company, with access to potentially billions of creative minds invest so much effort into intellectual property with limited cache? Why not create an original shared universe with less baggage, complications and cost? I understand properties like Iron Man and Guardians of the Galaxy didn’t have mainstream cache before their films came out, but Marvel focused on those properties because they already owned the rights to them. They didn’t have to shell out big money to a third party and then dump more money into bringing them to the big screen. DMG appears to have overpaid to join the connected universe wars.

It could be DMG is using Valiant as a future landing spot for talent it plans to lure away from Disney/Marvel and Warner/DC. Once the established creators see a former minor player as a new deep pocket, they might be willing to jump at the chance to join Valiant’s roster. A move along those lines could shift the balance of power away from Marvel’s dominance in film and DC’s leadership on TV and make the entire industry more competitive.

Getting the Money

No matter what DMG plans to do, the other side of the story is the important piece for producers, writers and creative people of all types. This deal, to the extent it comes to fruition, elevates an unknown independent comic publisher into an international entertainment force. But this transformation didn’t happen overnight. Valiant has been publishing since 1989. Its titles and roster have changed over the years, but their story is a classic example of three concepts I tell all my clients:

• You never know when or how your characters could become popular, so always prepare for potential success by making sure you own the rights (See What Can We Learn from the Success of Guardians of the Galaxy?)
• Always treat your art as an investment and get all the legal protection you can (See Treat Your Art Like an Investment)
• Take a long term view of your work and keep creating even if your first work isn’t a hit (See How to Break In and Stay in Comics)

Of course, the DMG/ Valiant deal could be a complete disaster. It might be the beginning of the end of the golden age of comic book based entertainment (See Can We Have Too Many Comic Book Movies?) But I don’t think so. Film, television, books and interactive media can all share in the windfall of increased interest in new properties. You can get a piece of the pie too, but only if you’re rights are protected.

Have fun.

Gamal

PLEASE NOTE: THIS BLOG POST IS NOT A SUBSTITUTE FOR LEGAL ADVICE. IF YOU HAVE A LICENSEING OR INTELLECTUAL PROPERTY ISSUE, DISCUSS IT WITH YOUR LEGAL ADVISOR OR CONTACT C3 AT gamalhennessy@gmail.com FOR A FREE CONSULTATION.

Can We Have Too Many Comic Book Movies?

by Gamal Hennessy

Last week was typical in the new normal of comics based entertainment. The latest news from the new seasons of Agents of Shield, Arrow, Flash, and Gotham leaked across the internet. Hints about the new Daredevil Netflix series competed with news about the Powers, Lucifer and Supergirl TV shows (See Superhero TV Roundup). Deadpool got a launch date for his film and a plot synopsis was leaked for Age of Ultron. New comic news comes out almost every day in 2014. Where does it end, and what does this new world mean for the creators of this work?

The Reality TV Link

There was a time before the current “golden age” of television where unscripted or “reality” TV dominated the pop culture landscape. It began with experimental shows like MTV’s Real World and then expanded into things like Road Rules. A few years later, shows like Survivor, the Bachelor and American Idol became prime time staples. That prompted a flood of reality programming. The category got so big it had to develop subgenres to create differentiation. They had makeover shows, celebrity shows, and competition shows. Every network felt the need to jump into the category. Networks like the History Channel and Food Network created shows having little or nothing to do with the channel’s original purpose. The phenomenon became so big MTV itself morphed into a reality TV station. For all intents and purposes it abandoned music videos altogether.

The Tail That Wags the Dog

Consider the evolution of comics based entertainment over the past twenty five years. The success of films like Batman in 1989, Spider-Man in 2002 and the Avengers franchise in 2013 have made this genre of film one of the most financially successful genres in the history of movies. (See IMDB Highest Grossing Films of All Time). When you add the success of TV series like Smallville and Arrow to the equation, not to mention animated series like TMNT, Batman, Justice League and X-Men and you have a content avalanche that’s only gaining momentum. We’ve reached the point now where some universities are devoting college classes just to the comic book movie phenomenon (See New College Course for the Marvel Universe). The industry has come a long way from the sad days of films like Howard the Duck and Spawn.

But how far can this momentum take us? Consider this:

• Unlike reality TV, it will take more than a box office flop (or even a series of flops) to stop it. Green Lantern, Punisher and Ghost Rider taught us that.
• It won’t come from a lack of “A  List” characters. Iron Man wasn’t a household name before RDJ got to it and no one knew who Guardians were before last year.
• It’s not just a game for Marvel and DC, since Wanted, Sin City, Kick Ass and Walking Dead have shown independents can take their titles to the screen too.

Will comic film and television get their own awards category at some point? Which network will abandon its original mandate and become a comic entertainment channel? The questions seemed silly ten years ago. Now it doesn’t seem so farfetched. In the world of comic entertainment, comics are becoming the bottom priority, not the top (See Making Comics Isn’t Really about Comics Anymore)

Forward Thinking

What does all this mean for the aspiring writers and artists? I think there are three takeaways anyone in the industry should keep in mind as they build their careers:

• Opportunities beyond traditional comics are continuing to grow not just in terms of TV and film, but in the areas of video games, streaming video and other forms of entertainment
• While the chances of translating any given property into a mainstream market release is still rare, it is essential for creators to know and protect the rights they have in the comics they create
• The amount of quality entertainment coming into the marketplace can raise the bar across the industry and drive innovation in art and story quality.

We might be living in the golden age of comic entertainment, but it will take creative expansion and prudent business choices to keep the momentum going.

Have fun.

Gamal

PLEASE NOTE: THIS BLOG POST IS NOT A SUBSTITUTE FOR LEGAL ADVICE. IF YOU HAVE A LICENSEING OR INTELLECTUAL PROPERTY ISSUE, DISCUSS IT WITH YOUR LEGAL ADVISOR OR CONTACT C3 AT gamalhennessy@gmail.com FOR A FREE CONSULTATION.