This week, we highlight a segment from Luminate Film & TV’s 2024 Year-End Report. This report showcases some of the most important trends impacting the global entertainment industry.
When it came to franchise titles in 2024, studios found themselves at an important crossroads. Down one path was the now-common strategy to build out content on pre-existing franchises like Marvel. The other path was to invest in intellectual property to build out fresh slates of franchises on which to create in the future. To showcase this divergence, let’s take a look at a few examples from Disney+.
2024 saw diminishing returns for some of the biggest properties on Disney+. Both live-action Marvel TV series Echo and Agatha All Along underperformed when compared to 2023 series like Loki and Secret Invasion. Both of these 2024 titles also underperformed compared to Percy Jackson and the Olympians, a late-2023 release. Percy Jackson is a known IP based on beloved novels, but the only screen adaptations are two films from 2010 and 2013. The franchise had never been given a faithful, author-approved adaptation.
Over at Prime Video, a similar phenomenon is occurring. The second season of Lord of the Rings: The Rings of Power saw a 60% decrease in total minutes watched when compared to the first season. Both of these titles underperformed when compared to the dystopian video game adaptation Fallout, which was a smash hit for the platform.
This raises the issue of how much studios can expect to get from existing franchises. 2024 was a testament to the fact that there is only so much mileage that you can get out of them. When you look at the data from Luminate’s Streaming Viewership (M), it reflects that, when studios take on too much and don’t invest enough in franchise management, these titles can wear out their welcome. There are many differing factors that can contribute to each show’s declining interest, but investing in fresh ideas, whether or not they belong to a franchise, is essential as studios move into 2025.
