People
People
Mark Endemaño
Partner & Managing Director - London
By the end of 2027, we predict that leading owners will manage transmedia IP as an always-on portfolio rather than through sequential windows. By 2030, this will shift $60–90B of annual franchise value toward licensing, games, and theme parks, and owners who run IP year-round will earn higher margins and a 20–40% valuation premium.
The boundaries between gaming, film, television, and sports continue to erode as entertainment companies compete to secure the next generation of global franchises. Consumers now choose from more content across more platforms, and competitive advantage now comes from owning the IP that audiences seek out on every screen.
Key themes
Why we believe our prediction to be true
The world’s top 15 IP franchises have generated more than $750B in lifetime revenue together. The next generation of billion-dollar franchises will be built on transmedia IP—characters and worlds extended across formats once they’ve proven their appeal.
We believe the next generation of billion-dollar franchises will be built on transmedia IP, meaning characters and worlds that are extended across formats once they have proven their appeal. As dealmakers look beyond traditional studio consolidation toward cross-media acquisitions, they will prioritize ownable characters and universes that travel across film, TV, gaming, merchandise, and live experiences.
How we expect it to play out in the market
We expect three moves to reshape the industry in 2027:
Value is shifting from distribution to IP. Gaming is the richest, least exploited pipeline: 3.5 billion active gamers with franchises like Elder Scrolls and Mass Effect still unadapted for screen. Non-Hollywood sources (Minecraft, Bluey, Squid Game) and creator-led IP (Backrooms from Reddit to A24 film to $400M+ gross) are rewriting the playbook.
Media groups are reorganizing around franchise P&Ls, not individual titles—measuring fan lifetime value across subscriptions, ads, tickets, retail, and live events. Pokémon Company demonstrates Level 4 maturity: managing a single franchise across games, cards, animation, film, and licensing ($150B+ lifetime revenue).
AI will reduce the cost of extending IP across formats. The largest savings will come in previsualization, concept art, localization and dubbing, and campaign production, where AI shortens work that once took months of specialist time.
What leaders should do in 2027
Audit rights gaps that would block extension into new formats. Use AI to test franchise concepts before committing capital. Stand up dedicated P&Ls for priority franchises with named owners and fan lifetime value as the KPI.
Retain library ownership and equity where possible—partner choice matters. Pace releases to prevent overexposure. The winners build ecosystems, not just assets.
2027 Media & Entertainment Industry Predictions Report
The media and entertainment industry is entering its next phase of transformation. As AI reshapes operating models and economics, businesses across the sector are under growing pressure to turn attention, investment, and innovation into sustainable value. Click through to explore the six shifts we believe will shape the year ahead, and the opportunities they create for businesses ready to act.
Learn more about AlixPartners' Media & Entertainment Report in our other chapters
