Russell Binder, a veteran entertainment and gaming licensing agent inHollywood and an executive producers of the hit horror movie Five Nights at Freddys, has joined venture capital firm Griffin Gaming Partners, which focuses on investments in the global gaming space, as a venture partner and intellectual property advisor.

With over two decades of experience as a distinguished entertainment and gaming licensing executive and producer in Hollywood, Binder brings a wealth of expertise and an impressive track record to the Griffin arsenal, the company said on Wednesday. As a founding partner of entertainment, marketing agency Striker Entertainment, he also served as an executive producer on the Candy Crush game show, as well as the Creepshow TV series, which was later turned into a game. Binder is renowned for his exceptional work in licensing and merchandising, which has significantly amplified the value of various entertainment intellectual properties. His experience encompasses iconic projects, such as The Twilight Saga, The Walking Dead, Angry Birds, The Hunger Games, Pacific Rim, and Five Nights at Freddys where his strategies have not only honored the original content but also broadened its commercial and cultural reach, Griffin said. A sequel to the latter is already being planned. His innovative approach to creating expansive IP hubs with games at the core has redefined the landscape of entertainment and media convergence.

Said Peter Levin, managing director and co-founder of Griffin Gaming: His unique blend of creative vision and strategic acumen makes him an invaluable asset to our portfolio of companies as the worlds of gaming, media and sport continue to converge.

Levin founded Griffin, which has more than $1 billion in assets under management, with Phil Sanderson, and Nick Tuosto. LionTree is a strategic partner to its venture fund.

Entertainment and gaming arent just sectors I work in; theyre passions that drive me, said Binder. Todays gaming IPs are not just about the games themselves but are platforms for vast, interconnected universes that offer endless opportunities for storytelling, engagement, franchise building, and monetization.

The news of Binder joining Griffin came out on the same day as AmpereAnalysisresearch assessing the changing face of video game adaptations. 2023 saw a decline in the popularity of movies and TV series based on comic books, and a rise in video game adaptations, the firm highlighted in a report entitled Hollywood swaps comic book heroes for video game characters.

Comic book adaptations remain important components of studio and network strategies, but interest in franchises is beginning to flag. Average consumer search volumes for the latest iterations of major comic-book adaptations have declined since 2021 and 2022, Ampere noted. However, IP from the video games market is beginning to offer comparable performance and is growing in demand as illustrated by recent successes based on video games, such asThe Super Mario Bros. MovieandThe Last of Usseries.

Illia Abusaitov, commissioning researcher atAmpere, emphasized that risk-averse studios have begun a smooth transition into the gaming realm, but also cautioned: These adaptations have already demonstrated their capacity to match or even exceed the success of comic adaptations. However, studios need to establish a consistent approach to ensure they become reliable hits, akin to the achievements of comic adaptations.

Foxy, Chica, Freddy Fazbear and Bonnie in Five Nights at Freddys. Courtesy of Universal Pictures