The economic crisis continues to affect different companies regardless of the sector. I know this new case.
The comics industry in the United States is at a critical moment. One of the largest companies distribution of these products, Diamond Comic, has just announced bankruptcy under Chapter 11 according to North American law. This means that the company’s objective is to access a restructuring of its debts and properties without liquidating all its assets.
Although this It doesn’t mean the company is bankrupt.this news marks a before and after in the industry of the sector. According to Diamond’s president, this gives it time to pay its debts, renegotiate agreements with key suppliers, reduce operating costs and seek new financing avenues to ensure its long-term stability.
Diamond Comics
How Diamond is bankrupt
Since the explosion of the Covid-19 Pandemic in 2020, everything changed for Diamond. Its temporary closure forced publishers like DC and Marvel to look for alternatives. This led to the growth of competitors like Lunar and Penguin Random House, who now run big names like DC, Marvel, and BOOM! Studios.
However, Diamond remains vital to the sector because its open submission policy allows small publishers, such as Antarctic Press or Blood Moon Comics, to distribute their works in comic shops. If it does not survive this crisis, many of these small producers could disappear from the map, affecting the diversity of the industry.
The impact of Diamond’s fall on the comics industry
Diamond’s fall would have a huge impact on the industry. On the one hand, Lunar and Penguin Random House should share the void that the company would leave, and on the other, there could be fragmentation in the market, making it even more difficult for new publishers and independent creators to enter.
Some see this situation as an opportunity for the industry. The fall of the monopoly could encourage innovation in comics distribution and open the door to new business models. However, the risk of losing independent and minority works is real, leaving a more limited outlook for readers.
Source: Ambito
