Marvel didn’t bother capitalizing on the IP that propelled the brand in showbiz, as they underestimated its worth

The entire comic book industry witnessed a rough patch back in the ’90s, especially Marvel, which declared bankruptcy in 1996 before emerging as one of the biggest Hollywood giants. And in their darkest hours, Marvel resorted to selling their character rights to keep the company afloat, which resulted in the creation of Wesley Snipes’ Blade and Sony’s Spider-Man.

But unlike other IPs, Marvel sold Blade‘s rights for an inconsequential amount to New Line Cinema, believing it wasn’t worth anything, which ended up being a blunder from the struggling studios’ side.
Marvel Studios

Marvel Let Go the Opportunity to Capitalize on Wesley Snipes’ Blade’s Success

Per Gavin Edwards’ MCU: The Reign of Marvel Studios, making Wesley Snipes‘ Blade was a huge gamble for New Line Cinema, which even Marvel believed wasn’t worth anything at the time. This resulted in them selling its movie rights for just $25000, which ended up making $131 million at the box office upon its release. However, Marvel didn’t even bother releasing a line of toys to capitalize on Blade‘s enormous success, which has proven to be a huge market for Marvel products over the years. Blade Producer Peter Frankfurt stated.
“Marvel as a movie-making entity was inconsequential, and it was during the course of making Blade that the ownership changed. Avi Arad kind of arrived on the scene. He really had nothing to do with the first Blade. I think Marvel was paid $25,000- that was what their upside on Blade happening was. That all happened before I even got involved; that was the deal that New Line made with Marvel. They [Marvel] didn’t think that it was worth anything.”
While bringing a comparatively unknown superhero who didn’t have a prominent following in the mainstream landscape was a risk, this did end up being beneficial for the movie upon its release.
Wesley Snipes | Blade

Blade’s Obscurity in the Mainstream Landscape Helped It Succeed

Reflecting on the Blade‘s success, which skyrocketed Wesley Snipes’ career, producer Peter Frankfurt explained that the enigma surrounding the movie upon its release helped it succeed. Considering the mainstream audience wasn’t sure whether the Wesley Snipes-led movie was a vampire, superhero, or horror outing, this ended up working in the creators’ favor. He explained,
“Blade was a weird oddity,” Frankfurt remembered. “It came out the second weekend of Saving Private Ryan; it knocked Saving Private Ryan out of first place. Everyone was like, ‘What is that thing? Is it a horror movie? Is it a superhero movie? Is it a vampire movie? Is it a kung fu movie?”
Blade (1998)
Despite not enjoying big profits, as Marvel underestimated the character and didn’t bother starting a line of toys, the studio eventually rose to the top thanks to the MCU. And with a new Blade movie in the works, which will witness Mahershala Ali donning the role, fans will hope it’ll be more in line with Wesley Snipes’ 1998 hit, which kickstarted Marvel’s success in movies.

Blade is available to stream on Max.