To survive, publishers have had to find new revenue streams, and an increasingly popular option is selling their backlog to Hollywood, per Axios.
Hollywood licensing has been embraced by massive imprints like The New York Times and The Washington Post, but it’s also become popular with smaller publications:
- The Atlantic recently announced that its first two film and television projects will soon be released on Peacock.
- Texas Monthly pulled in ~$1m last year after making 20+ licensing deals between 2020 and 2021.
According to Scott Brown, president of Texas Monthly, a credit in the main titles can drive viewers back to the magazine's properties, making the deals a profitable marketing play in addition to licensing revenue.
Hollywood could use help, too
While the 2022 box office began strong, it has since cooled, and recent data suggests that superhero fatigue is setting in.
Publisher archives can be a great source for non-Marvel fare and can lead to massive hits a Texas Monthly story was the source for “Tiger King,” which took over Netflix in 2020.
A union of these two struggling industries could be the love story we never knew we needed.