Wednesday, 20 April 2016

Nerdversity Discussion: Wizard World Woes

Wizard World announced this week that they are in trouble. After posting massive profits from their 25 conventions, each netting well over a million dollars, however profits were down to just over $900,000 per con, netting them an overall loss of $4.5 million for 2015. They also posted a $1.3 million loss on their streaming service, CONtv, which hosts it's own content as well as coverage of Wizard World events. They also announced losses on the subscription box, similar to Loot Crate.

In response to these losses, Wizard World is cutting it's shows this year by 6, from 25 down to 19. They have also reduced their stake in CONtv down to 10%. One of the biggest reasons these losses are occuring is that the North American market is currently being saturated by these large comic cons. 

Could this mark the beginning of the end for large comic cons? only time will tell. I think it'll rattle the cages of the companies involved. But the science is there and it does make sense. Why spend $150 to meet Bill Shatner on his own, when you could spend the same money on a smaller convention and get a better experience?