ENTREPRENEURSHIP / SEP. 13, 2013
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Harry Potter: A Successful Business That Just Keeps On Growing

The well-known author of Harry Potter - JK Rowling - is soon to make a screenwriting debut  by creating "Fantastic Beasts & Where to Find Them!" This will be the story behind one of Harry Potter's Hogwart's textbooks which featured in "Harry Potter and the Philospher's Stone".  It seems there is no limit to JK Rowlings talent and imagination! Her journey to success and stardom is one that many of us eager business hopefuls can certainly learn from.

According to the Guardian, Warner Bros has announced they are working on the new feature series in conjunction with author JK Rowling. It is thought Rowling will write the screenplay of the new film – her first – and the hope is that it will expand into a franchise along the same lines as Potter.

In 2001 Rowling published this book as a separate book of Harry Potter and the Philosopher’s Stone. It is a guide to "magizoology", or the study of magical creatures, and was supposedly published in 1918. The book was written by Newt Scamander, who will become the central character of the new film.

The author explained according to the Guardian: "Fantastic Beasts and Where to Find Them is neither a prequel nor a sequel to the Harry Potter series, but an extension of the wizarding world ... Newt's story will start in New York, seventy years before Harry's gets underway."

Kevin Tsujihara, Warner Bros CEO stated: "We are incredibly honored that Jo has chosen to partner with Warner Bros. on this exciting new exploration of the world of wizardry which has been tremendously successful across all of our businesses... We know that audiences will be as excited as we are to see what her brilliant and boundless imagination conjures up for us."

The eight Harry Potter films, which were released between 2001 and 2011, took over $7.7bn (£4.87bn) worldwide, and is still the most successful film series of all time. Warner has also developed a string of theme parks, video games and digital attractions, for which it clearly anticipates similar exploitation with Fantastic Beasts.

This is a clear example of just how successful a business can become. JK Rowling sells thousands of Harry Potter books each day, plus movies and video games, etc. The Harry Potter business model is one that should be studied by budding entrepreneurs. It is the perfect example of how a hobby can turn into one of the most profitable franchises in the world. 

 

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