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The relationship between literature and Hollywood has long been symbiotic. From “Gone with the Wind” to “The Godfather,” many of cinema’s greatest achievements began as books. More recently, franchises like Harry Potter and The Lord of the Rings have demonstrated how beloved fantasy literature can translate into box-office gold. The Harry Potter film series grossed over $7.8 billion globally according to Box Office Mojo, while The Lord of the Rings trilogy brought in more than $3 billion at the global box office according to the same source. However, as the publishing landscape undergoes dramatic changes, the film and TV industry may need to expand its search beyond traditional publishing channels for source material with built-in fandoms. Web novels could be their golden ticket.
Untapped Opportunities: Past And Present
Despite its success, Harry Potter serves as a cautionary tale about dismissing new voices and formats. Before becoming a global phenomenon, J.K. Rowling’s manuscript was rejected by 12 different publishers. Many considered her work too long for children’s literature and too focused on what was then seen as niche fantasy elements. Today, similar skepticism surrounds digital publishing platforms, yet these platforms are creating new opportunities for writers to reach massive audiences without traditional gatekeepers.
Take author JKS Manga (Jack Kawin Sherwin), whose web novel “My Vampire System” has garnered over 400 million views when including the audiobook adaptation and over 15 million web novels sold. “It’s hard to call it niche when My Vampire System has like 400 million views,” notes Sherwin. Sherwin’s novel belongs to an emerging fantasy subgenre called “lit RPGs” – a genre combining gaming elements with traditional storytelling. The rise and popularity of lit RPGs is evidenced by the fact that looking at the top performing WebNovel titlesat least three of the top five are all lit RPGs across all charts (as of December 11, 2024).
History Repeating: Web Novels, YouTube And Marvel
This scale of engagement suggests an already-established audience base that could translate to viewership. Yet many in traditional entertainment circles still view web novels as fringe content, much like YouTube was once dismissed. “WebNovel at the moment is in the same space YouTube was a long time ago where no one really knew how much YouTube had made,” Sherwin explains. To be clear, being a big YouTuber doesn’t necessarily translate to big box office or high ratings (as discussed in The Fallacy Of Fandom: How Hollywood Turns Gold Into Box Office Losses). However, being a filmmaker with a dedicated following who uses YouTube as a tool to develop their concepts and audience is more likely to make the jump (think Issa Rae and The Misadventures of Awkward Black Girl).
The success of “geek culture” properties like Marvel cinematic universe should have already dispelled the misconception that genre content can’t achieve mainstream appeal. The Marvel cinematic universe has become the highest-grossing film franchise of all time, with its movies collectively earning over $22.5 billion globally according to data from The Numbers. fantasy series like “Game of Thrones” and “The Witcher” have become cultural phenomena, with Game of Thrones reaching 46 million viewers during its final season according to Forbes, demonstrating mainstream appetite for genre content.
Web Novels: Built In Audience Testing And Feedback
Web novels offer unique advantages as source material. Their serialized format allows authors to build and refine stories based on direct audience feedback. “Every chapter, you have people commenting on every single chapter,” says Sherwin. The digital publishing model also allows for rapid iteration and audience testing. This creates a deeply engaged fan base that could potentially translate into built-in marketing momentum for adaptations. The immediate feedback loop helps authors create stories that resonate with audiences, potentially reducing the risk for studios adapting the material.
Moreover, web novels often blend genres in creative ways that appeal to modern audiences. Sherwin’s work combines vampires, science fiction, and gaming elements – a mix that might seem unwieldy in traditional publishing, but has proven wildly successful in the digital space. Given the meteoric growth of video games over the past 15 years and their influence on film and TV, it only makes sense that video games would be integrated into tangential storytelling media formats like literature. This kind of creative freedom has allowed web novel authors to pioneer new genres and storytelling approaches that could feel fresh on screen.
Streaming’s New Source Of Premium Content
Some platforms are already recognizing this potential. Webtoon, a digital comics platform, has successfully adapted several of its properties into Korean dramas and animated series such as Tower of God, a joint production with digital streamer Crunchyroll. The platform’s business model demonstrates how digital content can successfully transition to traditional media, with hits like Sweet Home finding success on Netflix.
The economics are particularly compelling for streaming services. With Disney+ reportedly spending up to $25 million per episode on shows like “The Mandalorian” and Netflix investing heavily in original content, the search for proven intellectual property is more competitive than ever. Web novels, with their established audiences and tested storylines, could provide a more cost-effective path to engaging content.
As the entertainment industry continues to evolve, the definition of valuable intellectual property must evolve with it. The next Harry Potter or Lord of the Rings might not come from a traditional publishing house, but rather from a digital platform like WebNovel or Wattpad where authors are already building massive, engaged audiences. For studios and producers looking to get ahead of the curve, it’s time to start taking web novels seriously.
After all, as the success of Marvel’s $22.5 billion franchise demonstrates, yesterday’s niche content can become tomorrow’s global phenomenon. The question isn’t whether web novels will break into mainstream entertainment, but rather which studio will be first to fully capitalize on this untapped resource.
