Further detail on approved planning application;
www.nottinghampost.com/news/business/decision-issued-warhammer-maker-games-9807895 |
Agreed on FT. Incredible detail. |
There's a long article on Games Workshop in today's FT that is well worth reading. |
Below link clearly shows that Warhammer has been a winner with highest imdb rating of 9(and most voting), ahead of its nearest rival D&D with rating of 7.3.
I watched it too and though I loved the effects etc, I really dint know what was going on. I feel fans loved it as this continued from where SM2 finished (therefore no time wasting for them). As I haven't played SM2, it was really hard making out what was going on BUT I have watched it 3x already just for effects. And I am glad, people like me who never played Warhammer might not have enjoyed as much as fans. Most importantly, the fans loved it and I rather have fans be happy than people like me.
hxxps://www.imdb.com/title/tt33204697/episodes/?season=1 |
This Secret Level link may work for those with IMDb ...https://www.imdb.com/title/tt33208023/?ref_=ext_shr_lnk |
The big impact for GAW is not $10 million per series. It will be the millions of new recruits to our hobby. |
 After talking to a former VP of Original Series at Netflix, Jeffries published a brief research note in February last year about Games Workshop’s potential deal with Amazon.
The key points:
Warhammer 40k is expected to be a ‘super high-budget’ project for Amazon, akin to flagship productions like Lord of the Rings. The extensive Warhammer IP, with over 350 books, offers ample material for storytelling and big-name talent is anticipated to join the project, including ‘a major film director’.
Games Workshop, as the rights holder and likely Executive Producer, could earn approximately $1 million per episode (10-part series?) with the potential for higher fees in future seasons. This estimate is based on a production budget of $20–30 million per episode.
The production process, including script development, set construction, filming, and post-production, means the first TV series is unlikely to air before 2–3 years. Subsequent seasons could also see gaps of about 2 years, unless schedules are well-coordinated.
The TV adaptation offers significant brand exposure, with the potential to boost sales of Warhammer-related games and products. The report highlights the potential reach of Amazon Prime’s 175 million streaming audience, emphasising the downstream benefits of increased global visibility. The Netflix VP mentioned that the biggest hits on the Netflix platform potentially reached 30% audience penetration. |
Thanks for both of those considered replies. My own view is that this will obviously take some time to feed through to actual booked revenue but that this surely provides an incredible headwind to core sales from 2028/2029 ish on. I do understand that these productions can flop though so perfectly possible the opposite happens (which with the current PE level would cause a lot of pain). Exciting times. |
The current share price rise can be traced back to the Peel Hunt organised visit for Institutional Investors on 2nd October. The share price melted up from £105 to £117 before the positive TU kicked it on further to current levels.
At the Agm I was reassured that progress on the Amazon deal was as expected so I imagine the same would have been relayed to the II's in October.
The company has stated f/c's are unchanged for this year and Edison hasn't added anything for FY26 either so I think the market is uncertain to the upside potential and will need it spelling out for it to react. |
Because there's zero expected revenue from in in the short to medium term? |
Why do people feel the share price hasn’t moved up with the Amazon news? Logically I can only assume the entire upside was baked in (although doesn’t quite make sense) or that the market perceives the downside of this step is broadly equal to the upside (ie if the productions are pants). Any other explanation? |
Just watched it - but not my cup of tea I'm afraid.
I'll stick to owning the shares.
Suet |
The Warhammer 40K episode on the 'Secret Level' series, just launched on Amazon Prime, has received very favourable reviews from fans. Definitely not for the squeamish. |
Bit more info on the amazon tie up. Looks like first up is a tv series https://deadline.com/2024/12/henry-cavill-warhammer-40000-tv-series-amazon-1236199071/ |
Looks like they're just knocking down the building on the Trent Fireplaces plot they bought in October so they can replace the parking they'll lose when building on the earlier obtained Transport Depot site. |
Further devlopment on-site at Nottm HQ;
"Warhammer maker Games Workshop reveals new Nottingham plans as part of major transformation"
www.nottinghampost.com/news/business/warhammer-maker-games-workshop-reveals-9779842 |
I wasn't expecting any royalties on conclusion of the deal framework but on a project by project basis as each film/series is signed off. |
Whats really unusual for me is that no mention of Minimum Guarantee(MG) on signing a new agreement which I am sure would have been substantial. And therefore, mkt reaction is muted as they expected MG to filter down in H2. Maybe, the agreement was based on higher royalty fee for GAW than usual to compensate for the MG?. Anyways, I am glad that its all sorted out. Good news overall! |
10 December 2024 Games Workshop Group PLC("Games Workshop" or the "Company") Agreement with Amazon for films and television series Further to its announcement on 18 December 2023, Games Workshop is pleased to announce that it hasnow agreed creative guidelines and reached a final agreement with Amazon Content Services LLC, a subsidiary of Amazon.com, Inc., ("Amazon") for the adaption of Games Workshop's Warhammer 40,000 universe into films and television series, together with associated merchandising rights. Under the terms of the agreement, Games Workshop has granted exclusive rights to Amazon in relation to films and television series set within the Warhammer 40,000 universe, together with an option for Amazon to license equivalent rights in the Warhammer Fantasy universe following the release of any initial Warhammer 40,000 production. Production processes in respect of films and television series may take a number of years. |
Agreement reached but no change to 2025 forecast and share price reaction muted. Curious.
NB Now realise this is because these films/productions will likely take a few years to come to fruition (Lord of the Rings took 5 years albeit delayed due to Covid). Jam tomorrow. |
Agreement reached with Amazon ? |
Good spot Akh!
Regards post 6724. GAW have embodied plenty of protection of the IP so Amazon won't be able to take liberties but they still obviously need to make a compelling drama to both keep the fans happy and to extend the franchise to further films/series. |
"Despite this, Secret Level manages to weave a compelling narrative through its 15-minute runtime. It's not just a tale of "the super soldiers need to kill this thing" either, it's a proper story with flashbacks and emotional stakes, which is tricky to pull off in such a short runtime. I won't spoil anything for you, because this needs to be experienced firsthand to have its true impact, but your high expectations will be exceeded"https://www.thegamer.com/warhammer-40k-secret-level-episode-astartes/ |
https://www.thesun.co.uk/money/32119267/games-workshop-shares-four-billion/Popular press now |
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