Could Amazon and gaming make it the next Marvel?

Some of the world’s biggest companies started from humble beginnings, but Games Workshop’s early days were less glamorous than most.

“We ended up living in a van,” says Sir Ian Livingstone.

He launched the brand – best known for its Warhammer games – with co-founder Steve Jackson in 1975.

Sir Ian tells BBC News that the pair asked a bank manager for £10,000 to start their business.

They would go on to create popular miniatures that players around the world collect, paint and battle in complex tabletop skirmishes.

But it was a rough start.

“He looked at us more like a dog watching TV, not understanding what we were talking about, and asked us to leave,” he says.

The pair ended up working out of a small room at the back of an estate agent’s office and joined a local squash club to get into the showers.

“We had no aspirations for it to be anything big,” says Sir Ian.

“We were following the passion of being gamers who wanted to be involved in a new kind of gaming business.”

That passion has blossomed ever since, and Games Workshop is more successful than ever, recently breaking into the UK’s top 100 companies list.

It made £126.8 million ($154.4 million) in profit in the second half of 2024, selling its products worldwide.

Miniatures were only one part of the equation, and a good portion of its profits came from licensing – allowing its products to be adapted into video games, films and television series.

Academic Dr Hailey Austin, from the department of games and arts at Abertay University, tells BBC News that the company has always been good at expanding into new areas.

“They’re willing to try new things,” she says.

“They’ve always pushed the boundaries, going into miniatures, paints, as well as books, magazines and even digitized their games.”

Games Workshop believes it is sitting on “some of the best underutilized intellectual property globally” and has the potential to go further.

The company recently finalized a lucrative deal with Amazon to create Warhammer TV series and movies, and lent its name to one of 2024’s best-selling video games.

Space Marine II – based on the numerous galactic soldiers from the sci-fi-inspired Warhammer 40,000 (40K) series – was a surprise success, selling 4.5 million copies in its first month.

Games Workshop boss Kevin Rountree told investors that Space Marine II had created “excitement” for its miniatures and that store staff had told him they had seen more people coming to the company’s flagship stores as a result. .

The power of TV and gaming to give fans more ways to engage with their favorite hobbies is something more companies are leaning into.

Last year, the video game adaptation Fallout sent the 10-year-old title soaring up the bestseller lists.

Warhammer fans say they also noticed a similar effect.

Katie Foad was first drawn to Warhammer by painting its detailed miniatures, but says her interest deepened when she played the 40k-inspired strategy video game Dawn of War.

This led her to the Games Workshop community and now she is part of Tabletop Tactics – a YouTube channel dedicated to all things Warhammer.

She joined in 2021, when Games Workshop – like other indoor hobbies – was experiencing a post-Covid-19 pandemic boost.

Katie says the channel saw a surge in new subscribers after Space Marine II launched last year – and videos featuring characters and creatures from the game were particularly popular.

“We’re definitely seeing more interest because of the popularity of Space Marine II,” she says.

Warhammer’s also had another boost from within the entertainment industry – Superman himself, Henry Cavill.

The actor has been described as “the coolest nerd in the world” thanks to his very public interest in video games and Warhammer.

Katie feels this has helped expose young people to the hobby, and also encouraged them to be more open about their interest in it.

“For those people who were already into Warhammer, they’ve seen him being so proud of it and they’ve gone, ‘Oh, that’s great,'” says Katie.

“I can talk to people about it. I can encourage other people to get into the hobby.”

“And I think people who were already in it are excited to share it.”

Cavill was and is a key part of the Amazon deal due to executive produce and star in her Games Workshop adaptations.

Adapting the Warhammer universe and its vast lore — information on the various races and characters within it — can be a challenge.

It’s something Clive Standen, who plays the lead role of Lieutenant Demetrian Titus in Space Marine II, knows well.

Standen tells BBC Newsbeat that his early recording sessions involved negotiating with Games Workshop representatives to inject depth and emotion into his traditionally stoic Ultramarines character.

“We have to find little nuances just to get the audience behind it,” Standen says.

“Otherwise, it will be too cold in there.”

In the end, Standen says, they found “common ground” and his performance in the game has put him in the running for a Bafta Games award.

He also voiced Titus in a Space Marine II-themed episode of The Hidden Level (the Prime Video anthology based on the popular video game).

Amazon claims it was the biggest debut for an animated series on its streaming service.

Standen believes the broadcaster’s deep pockets mean it’s the right place to do justice to continuing the Warhammer shows.

But he warns that it will take a lot of work.

“You have to strike a fine balance between pleasing the fans and giving them something they’re personally invested in, and also pleasing the regular fans,” he says.

“Because if you don’t have enough viewers, it won’t be ordered for a second season.”

Games Workshop has said it will be some time before its adaptations hit screens and warned that hits are not guaranteed in volatile and unpredictable video game business.

Katie thinks the “massive universe” that supports Games Workshop means it will continue to be successful.

But she says she’s excited to see how future Warhammer-based works are received.

“There is so much that I think it will always be successful,” she says.

“But depending on how this show goes on Amazon, if it really reaches a wider audience, I think it could go a long way.

“It could be Marvel.”

Sir Ian, who sold Games Workshop in 1991 for £10m, says he will also be watching with interest.

“Standing now, almost like proud parents watching this great British success story take the world by storm and become one of the top gaming IPs of all time, you can’t help but feel a great sense of pride” , he says.

“And hopefully that will continue for a long time.”

Additional reporting by Chris Vallance and Peter Gillibrand.