Sparks - Games Workshop Group

Games Workshop (GAW) has confirmed it has reached a final agreement with Amazon to adapt the Warhammer 40K universe into films and television series, together with associated merchandising rights. It has also granted an option to license equivalent rights in the Warhammer Fantasy universe following the release of any 40K production.

This is an important deal for GAW as it has struggled to develop this type of content historically, while keeping an eye on the required investment levels, having achieved greater success in licensing of its intellectual property into video games. Naturally, the financial benefits will depend on the frequency, volume and scale of the releases, the revenue sharing terms and how successful the content is. GAW undoubtedly has a deep and rich intellectual property to develop so it is going to be interesting to see how successful Amazon can be in widening the audience for what is considered a niche hobby that has been developing a growing global customer base. Management highlights the production process may take a number of years.