Marvelous future for Marvel Studios

By David Germain

Movie Writer

updated 5:52 p.m. ET June 17, 2008

BEVERLY HILLS, Calif. - Mount Olympus never had such a potent gang as Marvel Comics, whose vast pantheon ranges from Hollywood A-lister Spider-Man to the murky shape-shifting process server Ditto.

Now producing its own film adaptations for all but a few previously licensed superheroes, Marvel Studios unveils “The Incredible Hulk” on the heels of blockbuster “Iron Man,” whose 2010 sequel will be followed by an ambitious Marvel lineup.

Headlining their own upcoming movies are Norse thunder god Thor, super soldier Captain America and bug impersonator Ant-Man, those adventures culminating in 2011’s Marvel all-star tale “The Avengers.”

With an estimated 5,000 characters and a wealth of stories dating back nearly 70 years, Marvel could spin an endless web of big-screen yarns.

“It’s inexhaustible,” said Gale Anne Hurd, a producer on “The Incredible Hulk” and Ang Lee’s critically drubbed 2003 take on the character, “Hulk.” “What I love is, Marvel is now controlling Marvel’s destiny. They are the greatest caretakers of the characters and the stories.”

Until “Iron Man,” the company watched big movie studios count their millions on superpowered comic adaptations of Spidey, X-Men, Fantastic Four and other Marvel properties. Marvel made some cash by licensing the characters for films, but it was a pittance compared to what studios hauled in on such billion-dollar franchises.

Following George Lucas’ “Star Wars” formula, Marvel now finances movies itself and hires studios to release them for a fee, Paramount distributing “Iron Man,” Universal releasing “The Incredible Hulk.”

Marvel keeps all of the profits and retains lucrative rights for toys and other merchandise based on the films.

“The financial upside on a movie like ‘Iron Man’ or ‘Incredible Hulk’ is multiples of multiples of what we had in the old arrangement,” said David Maisel, chairman of Marvel Studios, a division of Marvel Entertainment Inc. “We have the power to greenlight our movies. We set our schedule. We’re not reliant on a third party.”

Video   'The Incredible Hulk' Scientist David Banner (Edward Norton) is desperate to stop the condition that turns him into a monster when he's angry. Buena Vista Pictures

A few elite franchises — among them Sony’s “Spider-Man” and 20th Century Fox’s “Fantastic Four” and “X-Men” with its upcoming “Wolverine” spinoff — remain under those studios’ control.

That still leaves legions of superheroes for Marvel to put on screen.

Iron Man was a beloved character among fans but far from a household name to general audiences. The comic-book gods smiled on his movie adaptation, though, as all the ingredients came together to create an instant Hollywood franchise.

The manic charm of Robert Downey Jr. made billionaire weapons designer Tony Stark as interesting in a business suit as he was inside the metal contraption he builds to fight bad guys. Downey’s own stints in rehab added a nice nuance to the movie’s boozy Stark.

Director Jon Favreau struck an ideal balance between action and character development, resulting in one of the best-reviewed entries in the onslaught of comic adaptations.

After a nearly $100 million opening weekend in May, “Iron Man” is closing in on $300 million, a mark previously reached only by the “Spider-Man” flicks among comic-book movies.

Though the Hulk was more widely known than Iron Man from the comic books and the TV series starring Bill Bixby, no one in Hollywood expects his new movie to put up those kinds of numbers.

“Previews of this film have been mediocre. The buzz seems to be lacking,” said Mike Hickey, an analyst who follows Marvel for Janco Partners.

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