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Potential Wizard bankruptcy???

Started by Columbia Comics,

271 posts in this topic

Columbia Comics

Columbia Comics

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Cut down on the number of shows.

 

 

But wouldn't that cut down on revenue? :baiting:

 

Not necessarily. It might actually be a good thing.

 

 

If they're losing money at "x" shows, you eliminate those shows. But at some point, the overhead will begin to exceed the profits generated from the positive shows and then the house of cards falls apart.

 

 

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Buzzetta

Buzzetta

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"Not familiar with any of the others"

 

Which basically makes you an expert on them?

 

 

Bob you have more familiarity than most others. This is not a "is the comic book value bubble bursting question." This is solely a question about the shows.

 

Do you feel that between the various 'major' shows and the 'minor' shows that some markets have reached their saturation point for sustainable comic books shows?

 

 

 

 

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lizards2

lizards2

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krappy hype-machine magazine, "the Wizard age" , over pricing admission to really krappy cons.

 

Good riddance

 

I hear they just had too many guns..., :facepalm:

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revat

revat

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I think the answer is having more shows in the dead of winter in the Midwest

 

 

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Columbia Comics

Columbia Comics

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"Not familiar with any of the others"

 

Which basically makes you an expert on them?

 

 

Never once said I was an expect on Wizard shows. But it seems pretty clear that they have more losers than winners. And a show may be good for a dealer but terrible for the promoter. After all, one nice sale can make your show. One ticket sale won't even be noticed by the promoter.

 

I've learned a thing or two about shows over the past two years and the Wizard model just doesn't seem to be sustainable in my opinion. When you guarantee $25k, $50k or $100k appearance fees and the talent doesn't get it, you're setting yourself up for disaster. Couple that by 15+ events....it doesn't take a genius to see the writing on the walls, or rather the SEC filings.

 

C'mon Bob, their YoY cash flow declined 577.62%. How can you say anything positive about the way they do business other than to say it's not going well. In 2015, they lost $5.6 million. 2016 is looking a little better but still, when you have no cash to close out the books in 2016, that's the smoke signals everyone fears. There's a reason the stock is at 25 cents.

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VintageComics

VintageComics

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Wizard, while putting on some terrific shows in various locations over all seems to have lost the handle on the show circuit.

 

Their continually rising booth prices have made it difficult for smaller vendors from local areas to exhibit, limiting fresh faces in exhibitor booths. Instead, over the last few years you've started to say the same large circuit exhibitors and vendors every year at every show. I assume they continue to raise costs in search of prof

 

its but the spin off is that they lose depth and variety of exhibitors.

 

This has been evident even at their flagship shows like Chicago and Philly. Both have reduced in depth and breadth of vendors (cost as being cited the main reason) but I think everyone will agree that Philly is a shadow of it's former self.

 

In the words of Al Stoltz, "It was a bowling alley" lol

 

I think Wizard chose the path of the 'big 3' car manufacturers, where they put out a poor product for a while thinking people would continue to come regardless of cost just out of previous attendance but eventually the public catches on and the product just doesn't have the same value.

 

That's how Toyota came to be #4.

 

If you want to build a sound foundation of customers you have to put out a consistently good product. There is no short cut.

 

 

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