Anatomy of an action franchise: John Wick

How to scale from an indie film to a $1bn+ franchise

With Ballerina (or, to give it its full title, From The World of John Wick: Ballerina) about to launch in theatres, we are analysing the John Wick franchise and its journey from a single low-budget action movie to a billion-dollar franchise.

What lessons can we learn from how it has extended and commercialised its IP?

What risks does it face, and what are the future prospects for the franchise?

Origin story

John Wick began life as an independent action flick.

Derek Kolstad’s script (originally called Scorn, with a 60-year-old protagonist named after the writer’s grandfather!) found its way to Keanu Reeves, who brought on his Matrix stunt coordinators and second-unit directors Chad Stahelski and David Leitch to direct.

Made for $30 million, Lionsgate, who had international rights, only stepped up for domestic rights when no one else wanted it. And it was only when they screened the movie at Fantastic Fest that they realised they might have a hit on their hands.

“We had that distributor screening, and no one bought it. Everyone in town saw it, but it was a weird time of year. It was the end of summer, so everybody sent their junior executives, and no one was really thinking that they were going to pick it up. So no one kicked it up to their bosses; no one wanted it. But Lionsgate already had international rights; they had financed it through foreign sales. So they said, “You know what? Let’s just hedge our bets. We’ll take domestic.” So they took it off the table, and that’s why we went to Fantastic Fest. They just wanted to see what they had. They were probably going to have it go straight to streaming or video, whatever it was at the time. But Fantastic Fest blew it up, and then Lionsgate went, “Holy shit, we know what we have now. There’s a spot in October. It’s [five] weeks out. We’ve got to get some TV ads going. Let’s go.” - David Leitch (Hollywood Reporter)

Bizarrely, the movie only got made because of $6 million in gap financing that was provided, 24 hours before production was due to be closed down, by none other than … Eva Longoria. She has since earned $12 million from her investment and still receives cheques from the movie over a decade later. Nice work if you can get it.

The core four

The John Wick movies have been released at a fairly consistent cadence of every 2-4 years, grossing a cumulative $1 billion+.

That’s pretty incredible, consistent film-on-film growth.

It’s interesting to note that the Box Office growth from Chapter 3 to Chapter 4 is primarily driven by International. In fact, Chapter 4 is still going - in February 2025 it secured a theatrical release in China, where it has grossed an additional $5 million+.

Production budgets have also risen over time (but have still remained sensible).

Those who read my post on Blockbuster Movie Economics 101 will remember that for this scale of movie, a ratio of Box Office to Budget of 2.5x is usually enough to see the overall economics into profit. The last 3 John Wick movies have managed a consistent ratio of 4.4x:

As the budgets have grown and the storytelling and worldbuilding have become richer, so too has the runtime of each movie increased:

The critical and audience reception has also improved with each film:

I would argue the success of these movies is driven by the following factors:

• A beloved, iconic star in what has become a signature role.

• Fresh, innovative action style, borne of the directors’ background in stunt design.

  • Although John Wick’s ‘gun-fu’ style has spawned a raft of imitators, it’s worth remembering how fresh it was at the time, and how each sequel has successfully upped the intensity and stakes of the action.

• Rich world-building and mythology.

• Strong supporting talent - Ian McShane, Lance Reddick, Lawrence Fishburne (Reeves’ Matrix co-star, first introduced in Chapter 2), Halle Berry (Chapter 3), Donnie Yen (Chapter 4).

Universe expansion

Movies

• Ballerina - this Ana de Armas interquel (ugh, I must apologise for using that word) takes place between the events of Chapters 3 & 4 and releases June 6th 2025.

• John Wick 5 - At this year’s CinemaCon, Lionsgate announced that despite (spoiler alert!) the apparent death of our hero at the end of Chapter 4, and despite Keanu declaring in interviews only 3 months earlier that his knees couldn’t take making another John Wick movie, he will indeed be back for more in John Wick 5.

• In addition, an anime prequel movie was announced, which will tell the story of how John Wick completed his ‘impossible task’ of killing his foes in a single night to fulfill his obligation to the High Table (which is how he accomplished his original retirement).

“I’ve always been fascinated with anime. It has always been a huge influence on me. I feel John Wick is the perfect property for this medium — anime holds the potential to expand our world, our characters, and our action in ways unimaginable before.” - Chad Stahelski

• A new spinoff movie focused on Donnie Yen’s blind assassin Caine (introduced in Chapter 4) has also been announced.

  • The film will go into production in Hong Kong later this year with Yen himself directing.

  • The movie will also feature Rina Sawayama’s character Akira.

TV

• The producers went in the prequel direction for the franchise’s first spin-off. The limited series The Continental, on Peacock, explored the origin story of Ian McShane’s Winston character, and how he won control of the titular hotel from Mel Gibson’s character Cormac O’Conner in the 1970s.

  • The show ran for 3x90-minute episodes.

  • At the time of release, it was touted as one of the top five most popular Peacock Originals ever released.

  • However, it has not been renewed for a second season.

• In August 2024, Lionsgate was reported to be pitching a sequel TV series John Wick: Under the High Table, to take place immediately after the events of Chapter 4.

  • The logline states “John Wick has left the world of the High Table in a tenuous position and a collection of new characters will look to make a name for themselves, while some of the franchise stalwart characters remain committed to the old-world order. The series will combine new and old and thrust the Wick universe into a new age.”

  • There have been no reports so far that this show has been picked up.

Experiential

• An immersive attraction, The John Wick Experience, launched in Las Vegas in March 2025 - a 12,000-square-foot ticketed attraction featuring two themed bars and a retail shop.

The John Wick Experience blends more than a dozen highly themed cinematic rooms, live interactions and interactive gameplay to create an immersive journey … As guests step through the doors, they find themselves in the fantastical underworld of John Wick, where they must navigate an all-new, high-stakes adventure. Each group of guests will be tasked with completing a mission that plays out in unique ways with characters, mythology, and iconography inspired by the Wick universe. Visitors may rub elbows or grab a drink with John Wick Continental Las Vegas staff, assassins, crime bosses, or other curious guests like themselves - Lionsgate press release.

“In the films, Chad Stahelski has created a complex, alternate reality with exquisite design, deep mythological influence and meticulous action. The most important part of creating this experience was honoring that and making sure that our guests truly feel like they are part of the world of the films.” - Jenefer Brown, EVP Global Products & Experiences, Lionsgate

• In 2022, a rollercoaster called John Wick: Open Contract launched at Motiongate in Dubai.

  • The ride designers worked with the filmmakers and production designer in re-creating the world of the film, including a scaled version of The Continental.

Sounds exciting, but I must say that this walk-through video looks a bit underwhelming to me!

And here is the ride (this British guy declares “Oh my God! I did not enjoy that!” in a delighted voice … before riding it a second time and concluding “Oh my god! It’s awful!”):

Publishing

• With the exception of a prequel comics series that ran for five issues following the original movie, I’m surprised there hasn’t been a publishing programme for this property. I would have expected novelisations, graphic novels, and ‘the art of/making of’ books, but there has been nothing official.

Consumer Products

• Lionsgate’s Consumer Products programme for John Wick really kicked into gear with Chapter 4, with a range of products and collabs.

• Although the CP licensing drafted successfully off the movie’s release, I’m surprised there hasn’t been a greater level of evergreen CP activity.

Games

• I’m also surprised there hasn’t been more activity in the games space. There has been talk on Lionsgate earnings calls of developing a AAA console game for John Wick - and the IP seems perfectly suited - but nothing has been confirmed so far.

• Back in 2019, John Wick Hex, a ‘fast-paced, action-oriented strategy game’, launched for consoles.

• Wick also made an appearance in the game Payday 2: Heists, although the character has now been withdrawn.

• Back in 2016 a VR game The John Wick Chronicles launched, designed for the HTC Vive and Steam VR platforms. I remember playing it at the time, as I was investigating VR opportunities for another franchise. It was fun, but short!

Documentary

• Finally, the documentary Wick Is Pain launched on digital platforms this month, chronicling the journey of the franchise so far.

Success factors

To be honest, I expected a stronger franchise flywheel for this property. There is more that could be done in several of these areas. Why haven’t we seen a richer publishing/graphic novels programme exploring this world and telling new stories? How come John Wick hasn’t appeared as a character in Fortnite? Could there be a touring exhibition of props and costumes? Where are the fan events?

Perhaps, as an R-rated action property, it simply isn’t sufficiently broad and mainstream in its appeal for these opportunities to work? Or perhaps the tight creative control maintained by Stahelski and his production company, which is one reason for the franchise's success as outlined below, creates a bottleneck that throttles some of these potential avenues for expansion?

Despite this, the franchise’s core success in movies cannot be disputed.

Here are the lessons that I think can be learned from John Wick for building out an action franchise:

1. Start with a strong, unique core product that defies expectations

• The first John Wick film began as a low-budget indie project that the filmmakers initially thought would go straight to video after distributor screenings. The movie was born from their unique experience as second-unit directors, martial arts enthusiasts, kung-fu fans, and fight choreographers. They created a distinct brand of action that was seen as redefining the genre. The ‘gun-fu’ action style, and the way it was choreographed and shot, became a signature element.

• In addition, all the action needs to be rooted in character:

“One of the things that we focused on going into it is Chad and Dave and Keanu and myself, we all love action movies. But the action movies we love are where you love the actor, the character. Plot is plot, world is world, but you've got to give a shit about the character.” - Derek Kolstad, John Wick screenwriter (Script Apart podcast)

• Lesson: Success can come from unexpected places with a distinct creative vision and unique execution, even on a modest budget. A strong, innovative core product is the foundation for future expansion.

2. Build and expand a rich, compelling universe

• The franchise expanded the story from a simple premise - a retired hitman seeking revenge for the death of his dog - into an ongoing saga about the Continental and an underground world of assassins.

• Key elements, such as the High Table and the intricate rules of the assassin world, were brought to the forefront.

• Elements and characters that work well were expanded upon:

“Winston, who's in the first movie for, you know, I couldn't tell you, it's just a couple of minutes. But he was such a delight that he's now become a cornerstone of the franchise, you know?” - Derek Kolstad, John Wick screenwriter (Script Apart podcast)

• Seeds were planted for future instalments and stories. Ballerina, for example, is rooted in the Ruska Roma crime organisation where John Wick was originally trained, which he revisited in Chapter 3.

• Lesson: Develop a deep and engaging fictional world with established rules and mythology that can serve as a backdrop for multiple stories and characters. At the same time, you can’t get too carried away, because you need to focus on making the best movie at hand:

“I remember talking with Keanu right before we were going to shoot [the first film] and he asked me, how many of these do you have in your head? And I was like, well, right now, nine. And he laughed and he said, really, and I started talking about where I would go. And he's like, whoa, whoa, whoa, let's just focus on the first one.”- Derek Kolstad, John Wick screenwriter (Script Apart podcast)

3. Maintain consistent creative oversight

• Chad Stahelski, who directed all four main John Wick films, signed an overall deal with Lionsgate at the start of 2024 to oversee the expansion of the John Wick franchise across all media, guiding the creative direction, franchise strategy and strategic growth to ensure the quality, tone, and vision remain consistent.

“There were rumblings that Lionsgate wanted to do another TV show without us, without the creative heart that does the films … There were some things in the first couple of drafts that weren’t quite matching either the tone or the mythology of the films … We’d seen other franchises go through interesting changes, and we were just like, “We need somebody at the gates.” We wanted to do the TV show, the anime and other John Wick projects and spinoffs, but we needed one person to keep it centered. And as the director of all four films, I was the guy that came up with the mythology, and I was in charge of the tone, so that’s where that title came from. I’m the gatekeeper, but everyone is welcome.

Keanu and I have been in rooms where other entities would give notes, and somebody would say, “Well, we don’t think that’s very John Wick.” Keanu and I then looked at each other, and I was like, “I don’t know. That’s John Wick right there. Hey, Keanu, do you think it’s John Wick?” And he was like, “Yeah, fuckin’ A, that’s John Wick.” (Laughs.) So as more and more voices come in, it’s more and more important to have at least that one voice as a stop-gate. … To be completely fucking arrogant for a second, we didn’t just work the last 10 years to see it all go to shit.” - Chad Stahelski (Hollywood reporter)

• Lesson: Centralised creative control by a core team helps maintain consistency in quality, tone, and vision as the franchise expands across different platforms.

4. Diversify and commercialise across different mediums

• Although I think there is more to be done with certain elements of the franchise flywheel for this property, such as in games, publishing and CP, John Wick has been extended fairly well across specific consumer touchpoints.

• Lesson: Expanding the IP into different formats such as TV, animation, games, and live events allows for exploration of different time periods, characters, and story types that might not fit into the main film series, reaching different audiences and deepening fan engagement. Translating the world of the franchise into consumer products and immersive experiences creates additional revenue streams and allows fans to engage with the brand beyond traditional media.

5. Innovate and raise the quality bar with each instalment

• Having concluded the story arc in Chapter 4, you might worry that Chapter 5 will revive the High Table conflict to string out the story for one more trip to the well. Encouragingly, Stahelski has said the fifth installment will be ‘really different’ since the High Table storyline from the first four films reached its natural conclusion.

“The saga of John Wick was pretty wrapped up, so the only way to do a [fifth film] is to have a new story that involves John Wick. It’s not a continuation with the High Table. John dealt with his grief. It will be really different, and everybody will see the trailer and go, ‘Holy fuck… I gotta see that.’” - Chad Stahelski (Empire)

"You can't just go bigger. You can't just go more explosions. You have this circumference of excellence that if everybody does their one inch of growth, you get a bigger circumference. And that's what I think we keep doing in the 'Wicks' is, if we all trust each other to get a little bit better at what we do, the synergistic effect is much greater than any one person trying to do a bigger explosion." - Chad Stahelski (SlashFilm)

• Lesson: By not repeating past successes exactly and continuing to introduce new elements, it is possible to maintain momentum and avoid fan fatigue (especially after a seemingly conclusive story arc), finding ways to reinvent the core franchise and explore new narratives rather than simply trying to ‘top’ the previous entry.

6. Persevere

• The film-making team have had to fight every step of the way to get these films made, and made according to their vision.

• For the first film: the funding almost collapsed (until Eva stepped in); the financiers didn’t want Keanu to have a beard (“He needs to be clean-shaven for international!”); Keanu had to forgo a portion of his salary to make the numbers work; Leitch and Stahelski had to split the DGA minimum (and then Lietch had to forgo a director’s credit due to DGA rules); there was push-back against the puppy death scene ("No one will want to see this on screen; you're going to alienate the audience.")

• The Wick Is Pain documentary shows that despite the franchise’s success (or perhaps because of it), the struggles continued through subsequent films:

“You know how many battles I fought on John Wick 4? This is after three very successful films. You’d think you proved it - not the case. I have never fought harder or longer on a film than on John Wick 4 … the runtime, the story structure… no one got the ending. They hated this, they didn’t get the character, [they asked,] ‘Why are we not doing this?’ They were trying to categorize John Wick into an algorithm to predict success on the next one, rather than just trusting the way we do it.” - Chad Staheski - Wick Is Pain

• Lesson: Building and expanding a major franchise involves overcoming financial hurdles and continuous battles for creative vision, requiring perseverance and belief in the project.

Risks going forward

Maintaining the quality and meeting fan expectations

• A lot rests on Ballerina. The original release date was delayed by a year for additional reshoots and new action sequences directed by Stahelski. Hopefully this has paid off - apparently the footage shown at CinemaCon last month was really good. I am cautiously optimistic.

Dependency on the main star

• It is hard to grow and expand a franchise beyond the main star.

  • The Continental TV show was fun, but Keanu’s absence was felt.

  • I understand that part of the Ballerina re-shoots were to boost the scenes featuring Reeves (which have been heavily trailed in the marketing).

  • John Wick 5 will bring the franchise right back to its core hero.

• Just as The Bourne Legacy demonstrated that it is hard to make a good Bourne movie without Jason Bourne, so too does the Wick franchise feel tied to John Wick. If Ballerina outperforms and Caine is a hit, perhaps that will break these constraints, in which case the franchise’s future growth prospects will be that much brighter.

“It begins and ends, I believe, with what that character, what that actor is willing to do. And dude, it's on Keanu's shoulders.” - Derek Kolstad, John Wick screenwriter (Script Apart podcast)

Retconning risks

John Wick 5 better have a good explanation for the ending of Chapter 4.

Wick’s story received a perfect ending in the previous installment. Having the character sacrifice himself to end his feud with the High Table and atone for the sins he committed along the way is such a bittersweet ending, and it’s one that most audiences agree fits neatly with the franchise’s key themes of vengeance and selflessness. Retconning this ending runs the risk of unravelling all the thematic depth that made it so compelling. - Screen Rant

I think at this point we have to have enough faith in the creatives that they will find a satisfying way through these challenges. I’m fascinated to see the forthcoming movies expand the stories and take the franchise to the next level.

Thanks for reading this article. If you know anyone who would enjoy it, there is a share button below, so do use it! Any likes and restacks are appreciated 🙏.

As the Baba Yaga himself would say: I’ll be seeing you…

---

Franchise news roundup

I’m considering splitting my franchise-management news roundups into a separate email from my deep dives. That way I could make them a little more extensive and consistent. Is this a good idea, or are things better as a single, all-in-one newsletter? If you have an opinion, please click on the poll below to let me know.

Preschool, Kids & Family

• Gabby’s Dollhouse is launching a stage show in advance of its first feature film. The musical Gabby’s Dollhouse Live! will launch in the US this fall, and will be ‘presented by Walmart’. It features an original story in which Gabby ‘unboxes a special acorn that needs the magical touch of a rainbow to grow’. Tickets will range from $40-$120. Read More (Meanwhile, the movie has dropped a new trailer here)

• The pilot Thomas the Tank Engine episode, not seen since 1983, has been found and restored. I’m involved in a project in the classic kids space, so I was delighted to see this - you can view the episode here.

• Aardman have announced Wallace & Gromit: Time for Tea, a new themed afternoon tea experience in partnership with Fox & Edwards Events, designed for heritage railways and attraction venues across the UK. Read More

• Mattel are launching a new, live Hot Wheels Stunt Show in the UK, featuring life-sized versions of iconic Hot Wheels vehicles. Read More

• Miraculous Corp will debut their new short-form spin-off Miraculous Chibi on YouTube in Q4 2025, before the shows subsequently land on Disney’s TV platforms and France’s TF1 in 2026. Read More

• DreamWorks Animation are producing a CoComelon feature film for theatrical release in 2027. Read More

• Hasbro have partnered with Trafalgar Releasing for the theatrical release of ten new Peppa Pig episodes, celebrating the arrival of Mummy Pig’s new baby. Read More

TV/Streaming spin-offs

• In advance of the launch of Wicked: For Good, Cynthia Erivo and Ariana Grande will perform ‘Wicked’ songs for a live NBC special in November. The show, which will film at the Peacock Theatre in LA, will air on NBC and stream the next day on Peacock. Read More

• The Suits LA spinoff has been cancelled after one season. It turns out that the breakout rediscovery of an old show on Netflix does not necessarily mean an audience will show up for a new version. Read More.

• Peacock has greenlit an animated Ted series based on the movies from Seth MacFarlane. The show will sit alongside the prequel series on Peacock, which premiered in January 2024 and has been renewed for a second season. Read More

The Upfronts brought a number of spin-off announcements from Amazon Prime Video:

• Amazon has ordered a series based on the Barbershop movie franchise (remember those, from 20 years ago, with Ice Cube? There were three of them…). The series will be written and exec-produced by the original Barbershop screenwriter, Marshall Todd. Read More

• Creed is getting a spin-off series, called ‘Delphi’, at Amazon. Michael B. Jordan and his Outlier Society will produce. Read More

• The Legally Blonde prequel series, ‘Elle’, will launch on Amazon this Summer. Read More

Stage 🔄 Screen

• 20 years after George Clooney’s film Good Night, and Good Luck, his stage adaptation has already recouped its $9.5 million investment after only 7 weeks on Broadway. Read More

Creators

• Amazon have given a two-season renewal to Beast Games, claiming that it has totalled 50 million viewers since its launch, making it the most-viewed unscripted series in the platform’s history. Read More

---