DREAMWAVE CLOSES SHOP?

[MattBrady]

Perhaps confirming long-lived rumors of an impending close, official word came today that Dreamwave productions, home to Pat Lee as well as the Transformer license, is closing shop.

The e-mail was sent to various press outlets from a new aol account rather than normal channels for Dreamwave communication. Dreamwave's official website, http://www.dreamwaveprod.ca/ has been shut down.

The release, if true, would come as fairly small surprise to many observers, as the company had reprotedly slowed or stopped paying freelancers (as reported by Rich Johnston in Lying in the Gutters at www.comicbookresources.com), and many Dreamwave staffers and creators, when asked by Newsarama about problems with the company said they were waiting for studio head, Pat Lee to release official word of the shutdown.

Roger Lee, co-founder of Dreamwave, has registered and opened the website, http://www.dreamengine.ca/

The studio was/is due to ship the first issue of its Beast Wars miniseries this month, as well as a relaunch of its Warlands property, as well as continue its ongoing Transformers series.

The press release reads:

Dreamwave Productions announced today that after eight years in the comics industry, four of which they were self-published, they will be ceasing operations.

Established in 1996 by brothers Pat and Roger Lee, Dreamwave infused a stagnant comic book market with art and design that effortlessly combined the then dominant “American” art style with the newly emerging Japanese “Manga” art style. Since then, the company had grown to become one of the comic book industry’s premiere publishers, producing a variety of original titles.

In 2002, Dreamwave firmly established itself in the comic industry as a force to be reckoned with when it launched an all-new Transformers comic’s line. The return of the 80’s icons shattered industry sales records, skyrocketing the book to the number one sales slot for an impressive six months. The Toronto-based company’s other successful licenses included Teenage Mutant Ninja Turtles, Duel Masters from Japan, as well as properties like Devil May Cry and Mega Man from video game giant Capcom Entertainment.

President of Dreamwave Productions, Pat Lee stated “there are a number of reasons for my decision to close Dreamwave”, citing that “the shrinking comic book market combined with a weak U.S. dollar and unsustainable monetary commitments has finally proven to be too financially taxing.”

As the only Canadian independent comics publisher, Dreamwave Productions has struggled in recent years to maintain its status within a relentlessly shrinking comic book market. Unfortunately, consistently diminishing sales totals over the last several years have taken their toll on the small publisher and made it impossible to continue.

The specific details for closure have not yet been released but Lee assures both fans and clients alike that “although this is the end of Dreamwave as a comics publisher, I will still be penciling a number of new exciting projects in conjunction with other studios in the upcoming years.”

Newsarama Note: Dreamwave's claim of being the "Canadian independent comics publisher" is somewhat misleading, as Arcana, UDON, and the recently launched Speakeasy are all headquartered in Canada.

[goofball814]

Well, since this has been rumored for quite awhile, it doesn't really come as a surprise.

My question: What issues that have been solicited will ship? Or are they done now?

Hopefully someone like Devil's Due or Dark Horse picks up the TF license.....

[zorn]

Did anyone really want to read more Transformers stories anyways. The multiple spin-offs,special mega-events, and pricy encylopedia's pretty much killed my interest- even if was just a move to comphensate for sagging sales in the core book (I think)

[divebomb]

A Major Transformers site www.BWTF.com is saying the press release came from an AOL account and was unsigned so they cant confrim 100%

[HUMMER]

Another one bites the dust . I think they just put all their eggs in one basket with Transformers. Too many Transformers books on the market.

It is sad to see too. I hate to see any comic company close.

[I am MODOK]

I hope all the creators find new work. I'm sure most of them will turn up on Marvel or DC books soon.

Transformers Gen 1 was the only book I collected from the publisher, and I dropped that a few months ago. The stories were just bad, although I enjoyed the artwork.

I hope the license gets moved somewhere else. I'd give it another shot, most likely. I'd prefer if it were somewhere that would not throw out the old continuity though.

[reddragon1978]

Surely the boys and girls could do original sketches, drawing and so forth and sell them on e bay to make up for fanancial losses.

Come on...I would pay at least $50 for an original sketch of a character...I bet those kids at dreamworks could get a lot more on e bay....a lot more!!!!

[Howard]

Originally posted by reddragon1978
Come on...I would pay at least $50 for an original sketch of a character...I bet those kids at dreamworks could get a lot more on e bay....a lot more!!!!

I'm going to outbid everyone for a sketch by Spielberg.

[Piferelli]

This is an unfortunate event indeed. I was looking forward to several projects, such as Transformers: Beast Wars and a new chapter in the Warlands story.

Best of luck to everyone at Dreamwave. I look forward to hearing news on future developments.

[Cray_ws]

Horrible news, but pretty much expected, considering they were riding on the success of the Transformers liscense, instead of developing their initial offerings like Darkminds and Warlands.

Sales were bound to sag on Transformers, especially considering oversaturation of variants, and the lack of any real growth by readership. By the time Dreamwave realized that sales were waning and there weren't any growth left to be had among the rabid collectors, they couldn't save themselves from a sinking ship. They had nothing in print to lean that didn't revovle around Transformers, and if they did it got overshadowed.

Pat Lee's Marvel stint Fantastic Four/ X-men did absolutely nothing for Dreamwave. If anything Pat should've been doing more Darkminds or Warlands to bring new interest in the company's offerings.

It was fun while it lasted and I hope the Dreamwave crew can pick up the pieces and learn from this experience. Good luck to the future.

[Agent Wax]

I wasnt aware that the comic book industry was such a sinking ship. I was under the impression that comics were doing well, a lot better than in years past, but this little acticle brought up how bad it was numerous times.
I think they are just using that as an excuse to cover up bad business decisions like putting 893 transformers books a month and then being surprised when their sales dropped.
It sucks that they are closing, but im not too sad because I didnt read any of the books, I collected the first GEN 1 arc, but then it seemed to be the same thing over and over.
_WAX_
xxx

[divebomb]

Apperently Pats Brother Roger setup a new company call Dreamengine!

Website registered to same adress as original Dreamwave

[MatthewSmith]

The only book I read from Dreamwave is Transformers G1, and its sad that they're closing down because things were just starting to finally pick up on that title.

And if the TF license gets picked up by someone else, we'll probably have to let them re-do the TF universe just like Dreamwave did at first. UGH!!!

[Symphony of Six]

Thank you for no Beast Wars!!!

Maybe Marvel will pick up Transformers Gen. 1. Quesada did say he wished Marvel had it at one point. Pat Lee also does do alot of work for them.

[bob_at_york]

That is too bad. Their offices were only 10 minutes away from my house. I had always wanted to check it out to see what it was like. None of their comics really caught on with me but I met Pat at a convention he seemed like a nice guy and I wish him and his staff all the best.

[crunch-o-matic]

“there are a number of reasons for my decision to close Dreamwave”, citing that “the shrinking comic book market combined with a weak U.S. dollar and unsustainable monetary commitments has finally proven to be too financially taxing.”


Sheesh, what a load.

Lucky for them they didn't hold a press conference.

[Alfonso]

Well, shit.

Dreamwave was making the most gorgeous comics in the industry with the slickest design and the best art clarity. I hope at least they retain their production staff and move over to some more mainstream stuff (do a Vertigo title! Darkminds at Vertigo!)

[WiiGii!]

Originally posted by Symphony of Six
Thank you for no Beast Wars!!!

i agree!!

and really the fans are to blame, fans who wanted crap like beast wars and were screaming doom and gloom from the very beginning

go to the allspark you will know who i am talking about

[glecharles]

Originally posted by MattBrady
As the only Canadian independent comics publisher, Dreamwave Productions has struggled in recent years to maintain its status within a relentlessly shrinking comic book market.

Hunh? Isn't Arcana Studios out of Canada? And Drawn & Quarterly?

[Rich Johnston]

First signs of trouble - October 20th 2003 - http://www.comicbookresources.com/co...g&article=1760

Colourists not getting paid – July 9th 2004 - http://www.comicbookresources.com/co...g&article=1941

Despairing Dreamwave creators – Nov 8th - http://www.comicbookresources.com/co...g&article=2025

The firing of James McDonough and Adam Patyk and the spinning therein – Nov 22nd - http://www.comicbookresources.com/co...g&article=2033

James and Adam get spun further - Nov 29th - http://www.comicbookresources.com/co...g&article=2036

James and Adam get rewritten – Dec 6th - http://www.comicbookresources.com/co...g&article=2041

Creators not told about creators leaving books – Dec 12th - http://www.comicbookresources.com/co...g&article=2045

John Ney Reiber goes public - December 27th - http://www.comicbookresources.com/co...g&article=2054

DreamEngine and today’s announcement – January 3rd 2004 - http://www.comicbookresources.com/co...g&article=2059

[BaronZito]

Problem #1: Only Canadian publisher? Hmmm...

Dave Sim? Cerebus? Ever heard of them? They are very Canadian.

Problem #2: Weak American dollar?

You're Canadian! That should help you! It does help you!

Problem #3: Weak comic book market?

Um, it is, for crappy comics that one would only buy if one is nostalgic for their childhood. If you want 80s retro done right, read G.I. Joe. If you want mindless plots, and 500 redundant mini-series, read Dreamwave.

[Tom Daylight]

Originally posted by BaronZito

Problem #2: Weak American dollar?

You're Canadian! That should help you! It does help you!

It doesn't if you're in the business of exporting to America. With a weaker US dollar, they get less revenue than they otherwise would.

[Kade]

Originally posted by MattBrady
As the only Canadian independent comics publisher

There is at least one other Canadian independent publisher. Arcana. (thanks glecharles!)

Is Drawn & Quarterly Canadian?

Pat Lee is an astounding success, a tremendous talent and a hell of a person. He is one of the hardest working, most talented visionaries I have ever met. I know that his best is yet to come and if Dreamwave is officially closed, I know that they'll find success with Dreamengine!

[CParadise]

I just read pat lee's "blame the market" letter and it pisses me off. How is this market shrinking, you can see the bigger books have bigger print runs every month. It's the niche books like Transformers and Thundercats that are shrinking. Of course, when the core books get better people will spend less money on the niche books. That is the problem w/most indie books. Most readers will buy a Marvel book before they will ever try a good "indie" book.

An example: Invincible, while not completely indie, is an amazing book that I have tried relentlessly to get people to read, and still only sell about 15 copies, while Rob Liefield's X-force sells 30-35. To me, that is a crime. But what can you do.

As far as DW, they had a terrible marketing department. They never focused (until just now when it was too late) on things that got them there, like Warlands done right. Instead they introduced 3-4 new Transformers concepts that never sold like Beast Wars, Micromachines and others, while the only one that ever sold well was G1. And a "SUCCESSFUL" TMNT license???? Who are they kidding, that book was cancelled after 6 issues. IT was selling for me, but not nationwide.

I understand the weak dollar comment, that makes sense. The dollar in the last 4 years went from .85 euro to 1.35 euro. That is a .50 cent jump, a 50% markup on each dollar made that was lost. I gave up a VERY SUCCESSFULL import business from europe when this happened because I could not make profit while having competitive prices.

Dreamwave will be missed by select few who love Transformers and alternate covers. The rest will not care much, unfortunately

[Bakema NL]

Always sad to see this happen, eventhough I didn't read their titles............it was self-control on my behalf, not because the comics looked like crap, because they really didn't.