SOFI - Genius Brands (GNUS) Stock Gains 10% on Marvel Licensing Deal
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- Genius Brands (NASDAQ:GNUS) stock is jumping on a licensing deal
- This includes the name and likeness of Stan Lee
- The deal allows these to be used in upcoming Marvel movie and TV projects
Genius Brands (NASDAQ:GNUS) stock is heading higher on Wednesday following news of a licensing deal with Disney (NYSE:DIS).
The deal between the two companies is for the likeness of Stan Lee. Lee was one of the creators of many of the biggest heroes that appear in Marvel Comics. With Disney owning Marvel and the success of its ongoing Marvel Cinematic Universe, this deal opens up new opportunities for it.
That includes a licensing agreement with Marvel Studios for the name and likeness of Stan Lee. This will allow the film studio to use Lee in its upcoming movies and TV shows. Cameos of Lee are commonplace in Marvel movies and this deal allows that to continue despite the creator’s death in 2017.
In addition to that, Genius Brands also has a deal with Disney that allows for the use of Stan Lee’s likeness at its theme parks and experiences around the world. Both parts of this agreement include Lee’s “name, voice, likeness and signature,” as well as existing archive footage and audio of the creator.
Genius Brands doesn’t reveal how much the price of the licensing deal was. However, it does note that it will last for 20 years. That gives Disney and Marvel a wide range of time to insert the late creator into their new works.
News of the Stan Lee deal has GNUS stock seeing heavy trading today. As of this writing, more than 63 million shares have changed hands. That’s quite the jump over its daily average trading volume of roughly 3.1 million shares.
GNUS stock is up 10.6% as of Wednesday afternoon.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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