2Seventy Consulting · Insights

Perspective

The Medium Has to Change Shape

Comic books were never the product. They were how we delivered the story.

A montage of classic comic book covers surrounding a central portrait of a mild-mannered reporter in a suit and hat.
Montage of comic book covers, courtesy of the Library of Congress

Every few years, somebody announces that comic books are dying.

The prediction has become almost as dependable as the next superhero movie. The executioner changes with the decade. Television was supposed to finish the job. Then video games. Then the internet, smartphones, streaming, social media, and now artificial intelligence. Each new technology arrives carrying a shovel for an industry that has spent nearly a century refusing to die.

The predictions always sound reasonable. Comic shops close. Quarterly sales wobble. Young readers carry devices that can deliver almost any story ever written without requiring them to find a specialty store or understand why Issue 847 is apparently a sensible place to begin.

The market declined to cooperate.

North American consumer spending on comics and graphic novels rose from roughly half a billion dollars in 2005 to about $2.2 billion in 2025. The path was uneven. Publishers stumbled. Retailers vanished. Distribution systems changed. But the supposedly dying market became several times larger while nearly everything about it was being rearranged.

That leaves two possibilities. Comic books somehow escaped the forces that reshape every other market, or we have been conducting the funeral for the wrong body.

The wrong funeral

Most arguments about the future of comics begin with a definition nobody bothers to question.

A comic book is a thin bundle of sequential art, printed on paper, folded, stapled, and sold in a comic shop on Wednesday.

But that is not the medium. It is one format, one channel, and one habit.

We make this mistake more often than we care to admit. We mistake the container for the thing it carries.

A newspaper becomes ink on paper rather than journalism. A bank becomes a building rather than trust. A university becomes a campus rather than learning. We confuse the container with the thing it was built to carry, then panic when the container changes.

The comics business encouraged the confusion. Publishers measured the market by monthly issues. Retailers organized themselves around Wednesday. Collectors discussed print runs and variant covers with the solemnity of archivists preserving a civilization.

Meanwhile, another audience was arriving through bookstores, libraries, classrooms, webcomics, subscription services, crowdfunding, and manga. These readers did not necessarily know the rituals of the direct market. Many did not care.

The stories were still traveling. They had simply changed trains.

Viewed one segment at a time, the market looked unstable. Viewed as a whole, it looked like something changing shape.

Adaptation does not ask permission

A comic panel of Marvel's Darwin, a smooth blue-skinned mutant, standing between two scientists in a lab.
Darwin, Marvel Comics (X-Men: Deadly Genesis #2), 2006.

Marvel's Darwin has no fixed superpower. His body supplies whatever the environment requires. Underwater, he develops gills. In extreme heat, he changes again. He does not select the ability because it would look impressive on a poster. Necessity makes the choice for him.

His power is not strength. It is relevance.

Adaptation isn't becoming something else. It's remaining yourself in a world that no longer looks the way it used to.

The industry changed its channels to preserve what mattered. These were not new identities. They were adaptations.

Every successful adaptation also abandons something. The trick is knowing what can be discarded without throwing away the reason anybody cared in the first place.

The Beast Boy principle

The same character, redrawn

1982 comic art of the Changeling in a red-and-white costume, ringed by animal heads.
1982

The Changeling

Art by George Pérez · Tales of the New Teen Titans #3 · © DC Comics

2016 art of a green-skinned Beast Boy leaping amid transforming animal forms.
2016

Beast Boy

Art by Jonboy Meyers · DC Rebirth promotional art · © DC Comics

2023 art of Beast Boy running forward with a menagerie of animals behind him.
2023

Beast Boy

Art by Nicola Scott, colors by Annette Kwok · Tales of the Titans #4 · DC Comics

Beast Boy can become a falcon, an elephant, a gorilla, or something small enough to hide under the furniture.

Everything visible changes. Nothing essential does.

Organizations usually possess the opposite instinct. They protect what is visible and neglect what gives it meaning. Products, buildings, technologies, departments, and distribution channels harden into identity because they are easy to see and expensive to replace.

The comic industry spent decades treating the monthly issue as the center of the universe. Wednesday became a ceremony. Comic shops became landmarks. Those things mattered, and still matter.

They were not the whole identity.

Readers found graphic novels in bookstores. Children found them in libraries. Teachers assigned them. Manga recruited audiences that traditional superhero publishing had often overlooked. Webcomics reached people who had never crossed the threshold of a specialty store.

The body changed. Beast Boy didn't.

The comic industry eventually learned the same lesson.

The capability trap

Success teaches organizations a dangerous lesson.

When a product works long enough, people begin to believe the product created the capability rather than the other way around. Revenue reinforces the mistake. Awards reinforce it. Eventually the company describes itself by what leaves the loading dock instead of what it uniquely knows how to do.

That is how adaptation begins to feel like betrayal.

Comics learned the thing worth defending was the story. Almost everything else became negotiable: dimensions, length, genre, audience, price, device, retailer, release schedule, and even whether the first encounter happened on paper at all.

Most organizations know what they make.

Far fewer know what they know how to do.

One describes today's output.
The other creates tomorrow's options.

The market accumulates doors

Bar chart, styled like a comic book, of North American comics and graphic novel sales by channel in 2024: book channels $1.125B (58.1%), comic stores $0.765B (39.5%), other channels $0.045B (2.3%), totaling $1.935B. Source: ICv2, 2024 estimates.

Markets are rude but useful. They do not care about nostalgia, strategic plans, or the executive who approved the slogan. Eventually they reveal what people will actually buy.

The clearest evidence appeared in the sales mix.

The change has been visible for years. In 2015, the North American market grew by roughly 10 percent even though download-to-own digital sales declined. Print rose by about 13 percent, led by graphic novels in bookstores and renewed strength in periodical comics. The supposedly obsolete format was growing because it had stopped being treated as one product.

Paper grew into manga, children's graphic novels, memoir, literary fiction, collected editions, classroom material, and gifts purchased by parents who had never learned the geography of a comic shop.

Then came the pandemic. In 2020, digital sales surged while physical stores and distribution were disrupted. It looked like the long-awaited victory of pixels over paper.

A year later, print sales exploded. Graphic novels rose sharply. Comic shops rebounded. Book channels grew even faster. Digital had not replaced paper. It had helped preserve the relationship until readers could choose again.

By 2025 comic-store sales posted unusually strong growth behind accessible new publishing lines and readers who had either entered for the first time or returned after years away.

The market did not choose one format and kill the others. It accumulated doors.

That is not what happens when one technology simply replaces another. Streaming displaced video rental. Digital photography displaced film. Smartphones displaced standalone GPS units.

Comics behaved differently. A reader might discover a character in a movie, sample a story online, buy a collected edition in a bookstore, and later enter a comic shop looking for the next issue.

The routes competed. They also recruited customers for one another.

If the comic book itself were the product, every new format should have weakened the old one. Instead, each successful format often introduced another audience to something larger than the format.

The thing that endured

A 1941 Fleischer Studios animation cel of Superman standing heroically in a beam of light.
Superman, Fleischer Studios animated short, 1941.

Long before comic books, people placed images beside one another and trusted the viewer to create movement between them. Egyptian walls, medieval tapestries, Japanese scrolls, political cartoons, and newspaper strips all relied on the same human talent: building a story from sequence.

That is why the last twenty years make sense only after the definition changes.

The industry was never merely defending paper, ink, or a retail channel. It was defending a way of telling stories that no single package owned.

Once that becomes visible, the supposed contradictions disappear. Digital could rise without killing print. Manga could expand the market without replacing superheroes. Bookstores could grow while comic shops remained relevant. A phone, a hardcover, a library copy, and a stapled issue could all carry the same essential experience.

Every organization eventually has to decide whether it will defend the form that made it successful or the core of what could make it successful again.

Comic books were never the product.

They were how we delivered the story.

A child picks up Superman and discovers courage.
A teenager meets Spider-Man and learns responsibility.
Someone else finds the X-Men and sees what it feels like to be different.

The shape changed.

The story endured.

2Seventy Consulting · Insights August 2026