The average cost of production (excluding marketing) for a major
animated film is US$160m. As such, success rates needs to be much higher
than with books. One way film studios minimize risk is to find IP that
has already been successful, i.e. a proven story and built in audience. The Hunger Games has been read by 15% of adult Americans, but the movie was seen by twice that number. Even a classic like The Hobbit is
neck and neck (15% have read the book, and 13% saw the movie). The book
drives the film, and in turn the film drives more book sales. In film,
it’s about hit driven economics.
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Video games are somewhere in between. They also cost a lot, averaging
US$50m+ for a modern “AAA” game (again, production budget only). But
their failure rate is relatively high compared with big budget animated
films. The video game industry is notorious for its graveyard of studios
and publishers. They were never as aggressive as the film studios at
securing existing IP, usually opting to create from scratch. That too is
changing, as game-makers are realizing the power that great
storytelling can have in their games. And like film, it’s also about hit
driven economics.
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