THQ and Random House Team up for Cross-Media IP Creation
THQ and Random House Publishing Group have announced a partnership that will coalesce the expertise and collective brain power of both companies in an attempt to create intellectual properties that can be marketed to consumers across various forms of media.
Naturally, games and books will be the first foray for the two companies, but plans to include other forms of media are in the works. Film will likely be the next frontier, as game IPs have often become box office successes even if they aren't necessarily critical darlings (see Resident Evil film series).
Moreover, Random House Films -- a subsidiary of the parent company -- is mooted to be developing a division specifically responsible for creating story content for films, video games, social networks, web productions, and mobile devices.
We've seen this "transmedia" idea incorporated into other gaming publishers' strategies as well. Most notably, Ubisoft has made key acquisitions over the last 5 years that have positioned the company to be able to develop and publish content across comics, film, books, gaming, and more.
Undoubtedly the trend will continue, as games like L.A. Noire push the narrative envelope, and titles such as the Call of Duty franchise bring in otherworldy sums of money.
THQ Press Release
The Random House Publishing Group (RHPG) and THQ (NASDAQ:THQI) announced today a pioneering step in transmedia - the establishment of a joint team to create and develop original intellectual properties ("IP") for publication across multiple mediums.
The team expects the new IP to first appear as a collection of games and books, while they further develop a rich IP universe that will allow for ongoing shelf life through other media. Drawing on rich skills and expertise in transmedia production, the team aims to bring a new level of quality to mutually created properties, expanding IP creation in ways that will immerse fans more fully in the fiction regardless of media.
The new IP incubator builds on Random House and THQ's continuing efforts to bring THQ's existing IP library to all book publishing formats, such as the recent HOMEFRONT: THE VOICE OF FREEDOM prequel novel. In addition, THQ plans to increase Random House's involvement in the creation of world bibles for prospective THQ properties through the Random House Publishing Group's IP creation and development group, Random House Worlds.
"Working with THQ has been nothing less than a huge pleasure for us, and we have very lofty goals for where this project will go," said Keith Clayton, director of creative development at RHPG. "It's really inspiring to work side-by-side with partners who share our creative passions as well as our view on the evolution of the entertainment industry. We truly think that this is the new direction for entertainment, and we're proud to be leading the way as we provide a platform for storytellers to have their visions realized across multiple mediums."
"This collaboration is a shining example of how we can generate interesting and exciting publishing opportunities as our various media continue to converge," said Lenny Brown, THQ Director, Creative and Business Development, Core Games. "Working with the incredible team at Random House, we expect to build a huge IP universe from the ground up, exploring the characters, settings, and stories of these worlds in ways that let each medium do what it does best, and giving fans a truly unequaled experience. We hope to make this relationship the gold standard in transmedia."
ABOUT THE RANDOM HOUSE PUBLISHING GROUP:
The Random House Publishing Group is a division of Random House, Inc., the U.S. company of Random House, which is the trade book publishing division of Bertelsmann, AG, one of the world's foremost media companies. The Random House Publishing Group is comprised of Ballantine Books, Bantam, Delacorte, Dell, Del Rey, The Dial Press, The Modern Library, One World, Presidio Press, Random House, Spectra, Spiegel & Grau, and Villard Books.
THQ Inc. (NASDAQ: THQI) is a leading worldwide developer and publisher of interactive entertainment software. The company develops its products for all popular game systems, personal computers and wireless devices. Headquartered in Los Angeles County, California, THQ sells product through its global network of offices located throughout North America, Europe and Asia Pacific. More information about THQ and its products may be found at
THQ Inc. Caution Concerning Forward-Looking Statements
The statements contained in this press release that are not historical facts may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the business of THQ Inc. and its subsidiaries (collectively referred to as "THQ"), including, but not limited to, expectations and projections related to THQ and RHPG's ability to successfully create and develop new IPs across multiple media and are based upon management's current beliefs and certain assumptions made by management. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, business, competitive, economic, legal, political and technological factors affecting our industry, operations, markets, products or pricing. Readers should carefully review the risk factors and the information that could materially affect THQ's financial results, described in other documents that THQ files from time to time with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal period ended March 31, 2010, and subsequent Quarterly Reports on Form 10-Q, particularly the discussion of trends and risk factors set forth therein. Unless otherwise required by law, THQ disclaims any obligation to update its view on any such risks or uncertainties or to revise or publicly release the results of any revision to these forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
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