The San Francisco-based newsletter platform plans to spend north of $30 million to entice big comic scribes to leave publishers — and let them keep rights to their own IP: “They are paying for names.”
That deal may mark a paradigm shift for top creators who work at major comics firms like studio-owned Marvel and DC, known within the industry as the Big Two, as well as those at midlevel publishers. Just as Substack’s lucrative offers to top journalists invited a wave of media pros at outlets likeor Vox Media to become independent operators and decamp for upfront payments to start subscription-based newsletters, Hollywood may be the next target for Substack.
Substack is part of a wave of platforms — including Amazon-owned ComiXology — that are seeking to create comics for the digital age as the medium is booming. In 2020, graphic novel and comic sales in North America totaled about $1.28 billion, up 6 percent year-over-year, per industry analysts Milton Griepp and John Jackson Miller.
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