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The Tim Ferriss Show
#676: David Maisel of Marvel Studios Fame — Never-Before-Heard Tales of Hollywood Dealmaking, The Art of Aiming Big, Lessons from Power Broker Michael Ovitz, Combining Business Smarts with Street Smarts, The Making (and Importance) of Iron Man, Selling to Disney for $4 Billion, and Much More
Jun 7, 2023
02:33:01
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Quick takeaways
- David Maisel recognized the potential of Marvel's characters to appeal to a specific demographic, leading to the creation of Marvel Studios.
- Maisel's experience producing the Broadway show Fosse solidified his passion for storytelling and merging creative and business skills.
- David Maisel's vision to build a studio that could produce and distribute its own films led to the formation of the Marvel Cinematic Universe (MCU).
- Maisel's journey taught him the importance of working with creatives, understanding shareholder value, and merging creativity with strategic business thinking.
- The success of Iron Man solidified Marvel Studios' position and led to the eventual sale to Disney, capitalizing on potential long-term growth.
Deep dives
The Formation of Marvel Studios
In 2003, David Maisel, under the guidance of Michael Ovitz, started conceiving the idea for Marvel Studios. He believed that there was a gap in Disney's customer base, specifically targeting males between the ages of 12 and having kids. Maisel recognized the potential of Marvel's characters and their ability to appeal to this demographic. Despite a rejection in the past, Maisel saw the value in the Marvel IP and recommended that Disney acquire the company. However, the idea was not well-received and Maisel was eventually let go from Disney. This sparked his desire to create his own studio.
Producing Fosse on Broadway
While working with Michael Ovitz, David Maisel had the opportunity to produce the Broadway show Fosse, a musical inspired by the life and work of renowned choreographer Bob Fosse. The success of the show, which won a Tony Award for Best Musical, solidified Maisel's passion for live theater and his belief in the power of storytelling. Maisel was able to merge his creative and business skills, micromanaging various creative decisions and managing the economic aspects of the production. This experience helped him further develop his entrepreneurial spirit and set the stage for his future ventures.
The Formation of Marvel Cinematic Universe (MCU)
After his stint with Endeavor and exploring various career options, David Maisel decided to create his own studio, Marvel Studios, in 2003. He saw the potential in Marvel's IPs beyond the traditional licensing model and wanted to build a studio that could produce and distribute its own films. Maisel believed that by having control over the creative and business aspects, Marvel could maximize the value of its characters and stories. This vision would eventually lead to the formation of the Marvel Cinematic Universe (MCU) and the unprecedented success that followed.
Lessons Learned and Personal Growth
Throughout his journey in the entertainment industry, David Maisel learned valuable lessons and experienced personal growth. He recognized the importance of working with creatives, understanding their motivations, and building strong relationships in the industry. Maisel also honed his business fundamentals, realizing the need for a solid understanding of shareholder value and the dynamics of the industry. Furthermore, he embraced his passion for storytelling and developed the ability to merge creativity with strategic business thinking. These lessons and experiences would shape his future successes, including his instrumental role in the rise of Marvel Studios.
The Creation of Marvel Studios
The speaker recounts the process of creating Marvel Studios, from securing financing and distribution deals to making key creative decisions. The importance of the Iron Man film in establishing the Marvel Cinematic Universe is highlighted, along with the challenges faced and the success of the film's box office performance.
The Role of Financial Structuring
The speaker emphasizes the importance of financial structuring in the success of Marvel Studios. They discuss raising funding, negotiating distribution deals, and managing the financial risks associated with the film industry. The speaker reflects on their role in creatively and strategically managing the financial aspect of the studio's operations.
The Importance of Creative Decision-making
The speaker highlights the role of creative decision-making in shaping the success of Marvel Studios. They recount pivotal moments, such as selecting John Favreau as the director of Iron Man and casting Robert Downey Jr. as the lead. The speaker also mentions the importance of maintaining creative freedom while keeping a balance with financial considerations.
From Iron Man to Marvel's Sale to Disney
The speaker describes the release of Iron Man and the positive reception it received, which solidified the studio's success. They recall celebrations and milestones, such as a dinner at Mr. Chow's restaurant, where cars were gifted to the film's key contributors. The speaker touches on the regular meetings with Disney's Bob Iger and the eventual decision to sell Marvel Studios to Disney, capitalizing on the company's undervalued stock and potential for long-term growth.
The Importance of the Disney Deal
In this podcast episode, the speaker discusses the significance and strategic thinking behind the decision to sell the company to Disney. The speaker emphasizes the importance of selling the company at the right time, highlighting the potential decline in attractiveness to potential buyers if the company had already committed to other deals in TV and film. The podcast delves into the negotiations with Disney, including the discussion of a fair price and the division of shares. It also explores the vision of connecting all the characters and the future plans for movies, such as the launch of the Avengers franchise.
Navigating the Sale and Building Trust
The podcast episode also delves into the personal and professional dynamics involved in the sale process. It highlights the negotiations between the speaker and Kevin Mayer, discussing the strategic importance of certain characters and films in the Marvel universe. The podcast reveals the trust and respect between the speaker and Bob Iger, highlighting the moment when Steve Jobs called Ike to speak highly of Bob's ability to preserve the culture of Pixar after the acquisition. The episode concludes by underscoring the butterfly effect of decisions made along the way, emphasizing the importance of pursuing one's passions and the potential for life-changing outcomes.
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David Maisel (@maiseldavid) is the founder of Mythos Studios and the former founding chairman of Marvel Studios. In 2003, David pitched Marvel on his idea of Marvel financing and producing its own movies in a connected cinematic universe. He went on to executive produce Iron Man, The Incredible Hulk, Iron Man 2, Thor, Captain America: The First Avenger, and The Angry Birds Movie. In 2009, David arranged the sale of Marvel to Disney for $4 billion.
David is currently the Founder of Mythos Studios, an IP entertainment studio. The Ekos Genesis Art Collection, all 1/1 original hand-crafted digital art, is the first offering in the forthcoming Ekos Universe.
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[09:25] Michael Ovitz.
[17:00] How David became Michael's right-hand man.
[25:12] Creative interests.
[26:14] When David fell in love with comic books.
[28:34] Early Hollywood lessons — learned and taught.
[35:43] Resources for people aspiring to work in the entertainment industry.
[39:20] How Marvel enters the picture.
[48:11] A detour to Broadway theater.
[54:51] Making the Marvel Cinematic Universe (MCU).
[1:28:26] Why start the MCU with Iron Man?
[1:31:56] Decisions between development and deployment.
[1:36:18] Biggest challenges.
[1:39:45] Animated feature films.
[1:41:14] Not just another pretty suit.
[1:47:20] Five stars for Favreau.
[1:48:48] Why hasn't David done more PR until recently?
[1:53:24] The surprise success of Iron Man.
[1:59:45] Wheeling and dealing with Bob Iger.
[2:08:50] Ron Burkle.
[2:10:35] Finalizing the big sale to Disney.
[2:14:36] Recommended reading.
[2:15:17] Building new mythologies and legacies in a post-MCU landscape.
[2:21:12] Parting thoughts.
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For show notes and past guests on The Tim Ferriss Show, please visit tim.blog/podcast.
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Past guests on The Tim Ferriss Show include Jerry Seinfeld, Hugh Jackman, Dr. Jane Goodall, LeBron James, Kevin Hart, Doris Kearns Goodwin, Jamie Foxx, Matthew McConaughey, Esther Perel, Elizabeth Gilbert, Terry Crews, Sia, Yuval Noah Harari, Malcolm Gladwell, Madeleine Albright, Cheryl Strayed, Jim Collins, Mary Karr, Maria Popova, Sam Harris, Michael Phelps, Bob Iger, Edward Norton, Arnold Schwarzenegger, Neil Strauss, Ken Burns, Maria Sharapova, Marc Andreessen, Neil Gaiman, Neil de Grasse Tyson, Jocko Willink, Daniel Ek, Kelly Slater, Dr. Peter Attia, Seth Godin, Howard Marks, Dr. Brené Brown, Eric Schmidt, Michael Lewis, Joe Gebbia, Michael Pollan, Dr. Jordan Peterson, Vince Vaughn, Brian Koppelman, Ramit Sethi, Dax Shepard, Tony Robbins, Jim Dethmer, Dan Harris, Ray Dalio, Naval Ravikant, Vitalik Buterin, Elizabeth Lesser, Amanda Palmer, Katie Haun, Sir Richard Branson, Chuck Palahniuk, Arianna Huffington, Reid Hoffman, Bill Burr, Whitney Cummings, Rick Rubin, Dr. Vivek Murthy, Darren Aronofsky, Margaret Atwood, Mark Zuckerberg, Peter Thiel, Dr. Gabor Maté, Anne Lamott, Sarah Silverman, Dr. Andrew Huberman, and many more.
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