It's not a completely insane theory. There's significantly more money to be made outside of model than just focussing on models.
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Covid has been very good for them netting 353 million pounds or 490 million dollars in revenue... Now I'm a simple man, all kinds of fancy business terms just go right over my head, but at least I have some idea of revenue and profit (man their operating costs are pretty high, but lets just ignore their profits everyone else seem to do that when discussion how well their doing).
Lets look at the Capeshit movies
https://www.forbes.com/sites/travis...nked-at-the-box-office-including-black-widow/
- Avengers: Endgame ($2.792 billion)
- Avengers: Infinity War ($2.048 billion)
- The Avengers ($1.519 billion)
- Avengers: Age of Ultron ($1.405 billion)
- Black Panther ($1.347 billion)
- Iron Man 3 ($1.215 billion)
- Captain America: Civil War ($1.153 billion)
- Captain Marvel ($1.128 billion)
- Spider-Man: Far From Home ($988 million)
- Spider-Man: Homecoming ($880.2 million)
- Thor: Ragnarok ($854 million)
- Guardians of the Galaxy Vol. 2 ($863.8 million)
- Guardians of the Galaxy ($773.3 million)
- Captain America: The Winter Soldier ($714.3 million)
- Doctor Strange ($677.7 million)
- Thor: The Dark World ($644.6 million)
- Ant-Man and the Wasp ($622.7 million)
- Iron Man 2 ($623.9 million)
- Iron Man ($585.2 million)
- Ant-Man ($519.3 million)
- Thor ($449.3 million)
- Captain America: The First Avenger ($370.6 million)
Now this is the global box-office. So marketing costs are excluded, and I believe it doesn't consider how much money the cinema takes. Still we see very large number here, easily comparable to those of GW.
For more comparisons lets look at Games of Thrones the TV series
https://www.finance-monthly.com/2019/05/how-much-money-has-hbo-made-from-game-of-thrones/
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So for the last few seasons they were making around (give or take tens of millions of dollars!) game of thrones money.
Now obviously this is not to say that if they make a 40K TV series that it will make Game of Thrones money, but it does help to establish that there is money to be made.
Now looking at video games is a bit tricky. I can get some info on the
franchises which isn't a fair comparison as it is lifetime, so the closest is probably then companies like EA and Activision
Electronic Arts Inc . (NASDAQ: EA) today announced preliminary financial results for its fiscal fourth quarter and full year ended March 31, 2020. News and ongoing updates regarding EA and its games are available on EA’s blog at www.ea.com/news. “We’re humbled to see people around the world...
ir.ea.com
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The Investor Relations website contains information about Activision Blizzard's business for stockholders, potential investors, and financial analysts.
investor.activision.com
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Now it's not necessarily a wildly unfair comparison, saying that the entire operations of GW over a full year makes less money than a single Marvel movie is also technically unfair, but it's unfair to the advantage of GW, while a comparison to a EA or Activision is maybe more apples to apples (as it is company to company) I do feel the comparison is open to a lot of "yeah but..." arguments.
So lets agree that these financial results show us that there's a lot more money in video games than in table top? That shouldn't be too controversial I hope (but I would have liked a profit margin for a couple of recently released games... but my google-fu is weak).
So anyway Arch might be wildly conspiratorial about it, but at the same time it would be strange for GW to not be looking at how to make more money on multimedia and IP since there's significantly more money to be made. In fact isn't Warhammer+ not exactly that, GW trying to expand into multimedia? Well it all depends on how well it goes... if it is wildly successful I think it is safe to say they'll probably trying going even bigger.
Now if Arch was saying that GW plans to shut down all their factories in 5 years and purely focus on making movies and series then yeah that would be retarded of him. Although I don't think that's what he was saying, I believe he was guessing that in the next 5 years (5 - 10 maybe?) that their sales would not simply keep climbing forever (he proposed 3D printing as a mechanism that could lead to lower sales) and that their model sales might even start to dip, and that GW is trying to orientate themselves away from being a model company to being a IP company and that they'll try to entice a Disney or a Hasbro into licensing or buying their IP (although I am now purely going off of memory here since the steam was kinda shitty and I don't want to watch it again).