In the middle of last year, we reported that Wizard World wasn’t having the best year. Well those losses didn’t stop, and according to ICv2 things got worse — with their total 2015 losses totally almost $4.3 million.
The losses can be blamed on a couple of factors, most notably their aggressive attempts to expand to more and more shows (despite per-show profits dropping). These rising costs, plus the apparent money pit that is their video streaming television channel ConTV, hit the company pretty hard.
Wizard World has scaled back their shows in 2016, suspending their operations in quite a few cities (although that hasn’t stopped them from pitching some weird ass ideas). Rather than the 25 shows they ran in 2015, 2016 will only see 19 cons (in 17 cities). Frankly, market saturation is a looming problem as more and more players try to get into conventions, especially with the large comic con style shows that Wizard World favors.
And I think they finally discovered what the breaking point was.