Games Workshop and Amazon agree ‘creative guidelines’ for Warhammer TV deal

Games Workshop and Amazon have agreed on “creative guidelines” for adapting Warhammer 40,000 into films and TV shows.

The two companies reached an agreement in principle in December 2022 to make films and television series with Games Workshop intellectual property.

A year later, Games Workshop granted Amazon exclusive rights to develop projects set in the Warhammer 40,000 universe, along with associated merchandise rights.

It also gave Amazon the option to license equivalent rights in the Warhammer Fantasy universe once initial production of Warhammer 40,000 launches.

The two groups agreed on creative guidelines, but Games Workshop warned that film and television production processes “can take several years.”

Superman actor Henry Cavill has reportedly signed on to star in and produce an Amazon series based on Warhammer 40,000, having been a fan of the board game since he was young.

Games Workshop’s announcement comes as the Nottingham-based retailer prepares to enter the FTSE 100 index for the first time following meteoric growth over the last decade.

Last month, the company said its core and licensing revenues were expected to total at least £290 million for the six months ending December 1, up from £248.6 million during the same period last year.

It also forecasts minimum pre-tax profits of £120 million, a 25 per cent increase on the £96 million recorded in 2023.

Founded in 1975, Games Workshop’s annual sales have roughly doubled since the Covid-19 pandemic, which encouraged people to spend more time playing board games while stuck at home.

In its last financial year, the company achieved turnover of £525.7 million and pre-tax profits of £203 million, partly due to strong demand for the tenth edition of Warhammer 40k.

Another of the company’s most popular creations is the American football-inspired Blood Bowl, where teams of fantastical creatures such as elves, goblins and orcs fight to score touchdowns.

Games Workshop’s current market capitalization is around £4.6bn, having seen its share soar by more than 2,600 per cent in the last 10 years.

According to data from AJ Bell, the group achieved an investment return of 2,630 per cent during the 2010s, the second highest of any FTSE 250 share.

Games Workshop Stock They rose 0.4 per cent to 14,010 pence on Tuesday morning, taking their gains to around 42 per cent since the start of the year.