[Op-Ed] What do DSTLRY and IDW have in common?

Would it surprise you to know that two completely separate publishers who, from outward appearances, are completely different in every way, have something in common? It’s true.

IDW is not a new publisher. Launched in 1999, IDW rose to some prominence relatively quickly compared to other publishers. Recently looked at as the “licensor publisher,” IDW developed a reputation of success in creating comics using established IPs such as G.i. Joe, Star Trek, Sonic the Hedgehog, and more. IDW’s bread and butter in comics centered on continuing stories for brands other people owned. Sure, they have some in-house comics, but their comic success rests with established IP.

Of late, IDW has hit the worst financial patch in its history. The stock price dropped below $1 for an extended period, and the owners chose to delist the stock from NYSE. Many big-name licensees (e.g. Hasbro) have cut ties due to sagging sales and poor quality. Hopes of spinning off the in-house titles into films and streaming shows have not met expectations.

In short, IDW hit the skids. New IDW CEO, Davidi Jonas, gave a series of interviews to ICv2 this week to talk about what went wrong in the past, what’s happening right now with the delisting, layoffs, and restructuring, and what’s going on in the future. Check out the interview via the links below.

IDW CEO Davidi Jonas Interview, Part 1

IDW CEO Davidi Jonas Interview, Part 2

IDW CEO Davidi Jonas Interview, Part 3

If you were to summarize the interview in a nutshell, IDW had too many people spending too much money for very little gain. The comics division didn’t leverage the licenses they had to match the market, and the leaders failed to take advantage of trends.

The goals for the present and the future sound eerily familiar. Focus on quality over quantity, maximize profits, and leverage storytelling across multiple media platforms.

On the surface, DSTLRY, the recently announced comic publishing startup, sounds like the exact opposite of IDW in many ways. Formed by former ComiXology execs, DSTLRY is geared toward focusing on creator-owned comics where the creators earn a percentage of the sales success. In addition, digital comics will have a DRM component that will make digital assets exclusive and sellable. Officially, the digital assets are not NFTs, according to the executives. In practicality, DSTLRY’s digital asset strategy is an NFT without the blockchain.

Further, just this week DSTLRY announced it will distribute the print version of their comics through Diamond (*pause for dramatic effect*).

Overall, DSTLRY is a new publisher doing some things a little differently at a superficial level. Their deal with creators sounds similar to Image’s well-established model. The NFT component could be a boom or a bust. The Diamond deal sounds like the same deal every publisher has (had?) with Diamond. So, DSTLRY could be touted as a new publisher that combines the best of what works from other publishers, but how it works out remains to be seen.

So, what do IDW and DSTLRY have in common? Here’s a hint. It’s not what they’re saying, it’s what they’re not saying.

What neither IDW nor DSTLRY is spending significant amounts of time talking about is YOU, the comic reader.

You hear a lot of talk about distribution deals, cost containment, creator contracts, digital strategies, and the like, but you don’t hear them spending nearly enough time talking about creating stories you like and would be willing to buy.

A publisher’s first priority should follow the Golden Rule I’ve mentioned multiple times in these Op-Eds and newsletters – Give customers what they ALREADY want at a FAIR PRICE, and deliver it to them where THEY are.

Customers, meaning comic readers, meaning you, want good stories. They want good stories at a fair cover price (without gimmicks or artificial scarcity), and they don’t want any obstacles to buying the comic, whether print or digital.

Make it good, make it affordable, and make it easy to buy.

I wish IDW a speedy road to recovery. I wish DSTLRY much success in its launch. But if readers don’t see messaging that says both publishers are supremely focused on quality, price, and accessibility, you can bet neither will have an easy path to success.

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