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Concept
Media franchise
Summary
A media franchise, also known as a multimedia franchise, is a collection of related media in which several derivative works have been produced from an original creative work of fiction, such as a film, a work of literature, a television program or a video game. Bob Iger, chief executive of the Walt Disney Company, defined the word franchise as "something that creates value across multiple businesses and across multiple territories over a long period of time".
A media franchise often consists of cross-marketing across more than one medium. For the owners, the goal of increasing profit through diversity can extend the commercial profitability of the franchise and create strong feelings of identity and ownership in its consumers. Those large groups of dedicated consumers create the franchise's fandom, which is the community of fans that indulge in many of its mediums and are committed to interacting with and keeping up with other consumers. Large franchise-based fandoms have grown to be even more popular in recent years with the rise of social media platforms, as many fans seek to interact with one another for discussion, debate and even to create their own fan-made pieces of media revolving around the franchise, on websites like tumblr, Reddit and Fandom. In the case of successful transmedia franchises, each different medium should expand the target demographic and fandom, build the interest of the consumers and add to the overarching story and narrative of the franchise itself. A connection between the characters, settings, and other elements of the media franchise do still exist within the different mediums, regardless of the fact that they are being presented in sometimes completely different ways, such as the shared, interweaving storylines and elements of the Spider-Man films, television shows, comics and video games. Espen Aarseth describes the financial logic of cost-recovery for expensive productions by identifying that a single medium launch is a lost opportunity, the timeliness of the production and release is more important than its integrity, the releases should raise brand awareness and the cross-ability of the work is critical for its success.
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