Icons (2022 TV series)/Episode 2 transcript

Prologue
Narrator: "They saw a trend."

Jason Rubin: "There were licensed games being made based on film and television shows."

Narrator: "They seized an opportunity."

Tom Kenny: "Their Nickelodeon licenses proved to be very profitable, not just for Nick, but for THQ as well."

Brian Farrell: "Our licenses from Nick proved to be the biggest goldmine."

Narrator: "And played it safe."

Pete Docter: "The games based on our films were a lot of fun. In fact, at Pixar, we have an arcade with new and classic arcade games, and we briefly display the console games based on our films. And THQ was responsible for making them starting from Monsters, Inc."

Narrator: "They got their licks..."

Tom Kenny: "The courts decided to have them liquidate... They, uh, they killed THQ in 2013."

Narrator: "But kept coming back for more. This is the story about the life, death, and resurrection of THQ."

Part I
Narrator: "It begins in California, At a time when both the toy and video game industries are booming, largely because of licenses from the hottest blockbuster films and televisions shows.

Jason Rubin - President, THQ (2012-2013): "There were licensed games being made based on film and television shows. Whenever the latest blockbuster film came out especially, game studios were looking to adapt them for the latest game consoles, like Jurassic Park and Star Wars. It was an exciting time to get involved in this business."

Narrator: "Toy industry veteran Jack Friedman forms a new company called THQ."

Brian Farrell - CEO, THQ (1995-2013): "The company was actually founded back in 1990."

Jason Rubin: "THQ originally stood for Toy Headquarters. The name reflected the industry the company started in, and Mr. Friedman had founded a company called LJN 20 years earlier, so he had experience in the business."

Narrator: "The Calabasas-based company wastes no time getting into the video game business, and releases Peter Pan & The Pirates: The Revenge of Captain Hook for the Nintendo Entertainment System in 1991. Bo Jackson: Two Games in One is released that same year for the Game Boy that same year. And the company makes waves that Christmas with a Multiplatform video game adaptation of the Holiday film Home Alone.

Jason Rubin: "Home Alone was based on the movie with Macaulay Culkin. It was very popular. There are multiple versions of the game and each features a different style of gameplay, but all share the same plot as the original film. THQ was pretty satisfied with how faithful these games were to the film."

Narrator: "THQ's licensed games prove to be massive moneymakers. And they continue this trend in 1993 with games based on well known properties including Thomas the Tank Engine & Friends and the Nickelodeon series, Ren & Stimpy."

Part II
Narrator: "By the year 2000, THQ is an established game developer with a slew of hit licensed and original games for home consoles, including games based on shows airing on the kids' cable channel Nickelodeon. But their next licensing deal is with an animation studio making critically-acclaimed animated films with quality on par with their film distribution partners at Disney... Pixar Animation Studios."

Brian Farrell - CEO, THQ (1995-2013): "The company had a tremendous opportunity to do a deal with Pixar to make games based on their films. The studio saw how successful we were with games based on pre-existing movies and TV shows, and especially saw that our licenses from Nick proved to be the biggest goldmine."

Part IV
Narrator: "It's 2010. THQ is still reeling over the declining popularity of its licensed Nickelodeon games, as well the loss of its Pixar license to Disney's in-house video game division. But that doesn't stop them from developing a new accessory for the Wii."

Tom Kenny - Voice Actor: "THQ had a shot. THQ saw how popular the Wii was that they decided to create a third-party accessory called the uDraw GameTablet. They managed to get some good games that took its tech seriously, like SpongeBob SquigglePants."

Brian Farrell - CEO, THQ (1995-2013): "My goal... my plan for the company was to make this a very successful third-party gaming accessory. Not just for the Wii, but also the PS3 and Xbox 360 as well."

Narrator: "The accessory fails. Across all platforms, only 1.7 million units are sold."

Tom Kenny: "In the end... you know, the Wii remote proved to be insurmountable."

Narrator: "At the same time, licensed video games for kids as a whole take a hit."

Tom Kenny: "There was a big decline in sales in terms of console games aimed at kids in the beginning of the decade, largely due to the popularity of gaming on smartphones and tablet PCs as well as the economic recession we had been in since 2008."

Narrator: "By 2011, THQ is in the red. The company eventually announces plans to withdraw from making video games aimed at kids entirely. One year later, THQ is a shadow of its former self. The few titles it develops are rushed and unpolished."

Tom Kenny: "THQ in its final years was struggling, especially due to the fact that they were focusing more on adults, an audience already taken by EA with its sports games."

Narrator: "And the news just gets worse. That same year, the company announces it will file for Chapter 11 bankruptcy protection."

Reggie Fils-Aimé - Former President, Nintendo of America: "When THQ announced they were going bankrupt, that was a massive blow, although I had some hope they'd survive at the time. During their initial announcement, they were hoping they'd survive as well by immediately being sold to a private equity firm - Apollo Global Management."

Narrator: "Unfortunately, those plans for Apollo to save the business fall through. Eventually, THQ has no choice but to wind down operations."

Tom Kenny: "The courts decided to have them liquidate... They, uh, they killed THQ in 2012."

Narrator: "By January 23, 2013, THQ no longer exists. But, the company doesn't stay down for long."

Brian Farrell: "A Swedish company called Nordic Games was founded in 2008. About three years after that, they opened an Austrian office. A company originally using the Nordic name was in a similar situation as THQ, oddly enough."

Lars Wingefors - CEO, Embracer Group (in Swedish): "Unfortunately, the former THQ went into bankruptcy in 2013. But, we're lucky that our THQ Nordic subsidiary could obtain the rights to the former THQ properties. So today, here we are."

Brian Farrell: "In 2014, the holding company that now owns what was once Nordic Games Austria, Embracer Group, bought THQ's intellectual properties. So, what they decided to do two years later was rename the company THQ Nordic."

Tom Kenny: "So, essentially they created a new THQ."

Narrator: "And its legacy of games based on pre-existing IP, lives on."

Tom Kenny: "If you grew up watching Nickelodeon as a kid - especially SpongeBob - and you wanted games based on your favorite Nick shows, then THQ was the one who developed them."