The phenomena of overexploiting an IP is common enough (from the comic book boom of the 1990s to the Dune books to the Die Hard sequels). What I wanted to focus on here is fantasy book series--IP that used to be popular, but has gradually fallen out of public awareness due to overexploitation (ergo, the material is still around, but fewer and fewer are aware of it). In all the cases that follow I've dipped my toe into the source material (mostly when I was younger). As we watch Game of Thrones knocking on the door of that oblivion with House of the Dragon, let's tackle them one at a time.
Dragonlance
I wanted to start with Dragonlance because it could theoretically get a shot in the arm from the upcoming 5e D&D book along with the first novel based in the setting in roughly a decade. How likely is this to kickstart interest? The odds are low--5e did nothing to lift Eberron out of the cult status when it's 5e iteration came out in 2019 (as evidenced by the limited number of related products that followed and its low level of play on platforms like Roll20--granted, Keith Baker's insistence on never evolving the setting is a major problem for it), while writers Weis and Hickman have long been in decline as authors (as evidenced by virtually disappearing from bookstore shelves).
The franchise began with the original trilogy in 1983-85, which was followed by multiple books a year (from a variety of authors) through 2009; then just two in 2010 and one in 2011 (there's close to 200 books for the IP when including other authors). In the midst of the lengthy hiatus there was a lawsuit between the authors and WOTC (settled quietly). D&D-related RPG products had ended in 1993, but products in other RPG systems run until 2008. That year, 2008, also saw a direct-to-video animated film released via Paramount (which I've seen and it's quite awful; Kiefer Sutherland's Raistlin is the only occasional good part).
My personal experience with the franchise consists of the original trilogy, the Time of the Twins trilogy, Kaz the Minotaur, and Weasel's Luck; I read the books in my early teens, re-reading the original in my mid-20s. I don't recall what directed me to the series, but most likely its connection to D&D. Re-reading it as an adult was mostly painful, as other than the opening chapters of Dragons of Autumn Twilight, the series is lacking. I recall as a kid being vaguely disappointed in the follow-up series, while only reading Kaz because it had minotaurs and Weasel Luck's because I liked Sturm Brightblade (I have not attempted to re-read either, but at the time both were disappointing).
Summarizing the entirety of Dragonlance isn't my intent, but the basic story that made it famous is quite simple. In the world of Krynn a plucky group of adventurers get caught up in a war whose fate they ultimately decide. The world of Krynn, at least in the early days of its conception, is interesting and despite our heroes being a mixed bag, has distinct enough elements to be engaging. The execution of the story, particularly as it goes on, is not great, but broad strokes there's potential and that's what kept the IP going all this time. Granted, the iconic characters are 'problematically' white and mostly male, a sentiment their creators now agree with, so any adaptation would go down the road of The Witcher, The Wheel of Time, Rings of Power, and so on.
There remains some value in the IP (in many ways Dragons of Autumn Twilight is the quintessential D&D story, a bit like how Critical Role campaign one is), even as it has slid into obscurity. Its flaws as literature don't necessarily impair it from success. If detached from modern political derangement the original trilogy has the potential to be a good story.
Drizzt
R. A. Salvatore's famous Drow hero (a Drow is a Dark Elf in D&D--originally an evil race of Elves) is something of an enigma. Unlike Dragonlance above, the author has consistently pumped out novels to solid (if diminishing) sales (39 books!), but can't get beyond niche popularity (current 35th anniversary efforts notwithstanding).
The original trilogy that introduced him arrived in 1989-90 and Salvatore has, with very few pauses, continued it well beyond the point of inanity. The character has had sporadic appearances in games, but never a starring role.
My personal experience was similar to Dragonlance above: I read both early trilogies roughly when they came out, along with The Legacy and Starless Night (mid to late teens; I re-read the bulk of the first two trilogies in 2016). I was drawn to them both because of the D&D connection and because I liked Drow--I actually read the original trilogies in reverse publication order (so The Dark Elf Trilogy first). I remember being disappointed with the later additions (which is why I went no further than Starless Night). In re-reading the trilogies as an adult I found The Icewind Dale trilogy too poor to finish, while The Dark Elf trilogy had enough interesting elements that I was able to slog through it, even if it was ultimately underwhelming.
Drizzt is firmly set in the Forgotten Realms, Ed Greenwood's tedious setting that has been the default world for 5e D&D. That world is a crowded, inchoate mess and when looked at as a whole makes no sense whatsoever. The more restricted origin story of The Dark Elf Trilogy or Icewind Dale could work in an adaptation, although their tones and cast are vastly different. I think how Salvatore handles the intricacies of the former is mostly poor, but I think there's potential in it.
Just like with Dragonlance, I don't think the lack of literary punch matters--there could be some value in adapting the IP, but Salvatore's issue is that his cast is largely white and his Drow matriarchy is evil, two things the industry can't handle right now. If it was ever adapted, The Dark Elf series has the most potential. Is there a market for the IP? Not right now, although a good writer/director could make it work, but that would be more on them than the source material.
Shannara
The fantasy series widely believed to be deliberate pastiche of The Lord of the Rings by Terry Brooks (growing up I'd read he was contracted to write it as such, but that story has never been confirmed). Much like Salvatore above, nothing has stopped the Shannara train from running, even if (in the same vein) the return has eroded away (there are 43 books).
The original trilogy came out from 1977 to 1985 and, after a pause, endless production ever since, with the latest effort in 2020. Brooks has, I think, realized this is his bread and butter and he can't abandon it (a problem Salvatore and Goodkind both share). He is trapped by his own creation, which is one reason why he's fiddled with it so much.
My personal experience with it was reading the original trilogy as an early teen (I believe via my brother who read them first), along with the follow-up four books dubbed The Heritage of Shannara as a teen--I recall being thoroughly unimpressed with the latter (along with the former when I re-read them at the time).
In the beginning Brooks' world was heavily dependent on Middle-earth and his story is so point-by-point The Lord of the Rings that it makes your eyes bleed. There's virtually nothing in those early conceptions that's distinctive (ideas or characters), such that you'd have to press on to his less popular science fiction inserts to make it standout.
Brooks is not a very good writer (I tried his Magic Kingdom series and couldn't get through the second book). That's no inhibitor to adaptation and he was able to get the IP onto TV (MTV then Spike TV), with two seasons of the unwatchable The Shannara Chronicles (2016-17). Despite having people like Jon Favreau involved, the show made no impact at all (the Wheel of Time of that era). Part of the problem with the IP is how similar it is to The Lord of the Rings (risking getting sued). Could anything be done with it now? It's possible I suppose, but as something inherently derivative, I think there's more bang for your buck in making something original.
Elric of Melnibone
Creator Michael Moorcock is still with us and I can only imagine the ignorance of not just his character but himself has to sting, as he used to be considered a top fantasy author. It's difficult, now, to understand how big this guy was in the 1970s.
Elric first appeared in Science Fantasy magazine in 1961 and 1962. After that came sporadic publication until the present (there are 11 novels with another coming), but in other media the IP is more or less dead (an RPG in 2007, a film effort that never went into production, and an announced TV series for New Republic that's not on their slate of releases through 2025). I think the days of subverting expectations has come and gone and Moorcock won't be around to see that trend return (when popcorn films like The Last Jedi are doing it, it's reached the bottom of the barrel).
My personal experience with the IP is limited, as other than the Elric at the End of Time graphic novel (read when I was young, where it did not impress), I've no other experience with it. I recall thinking the story was as a bit self-important and obvious. As I grew older and learned the thrust of what Moorcock was attempting, I lost interest.
Moorcock's universe isn't particularly interesting (thus failing to work as a game), so the only avenue into the IP is through its lead (the common trend in modern fantasy as well). I suspect Elric is, in part, an inspiration for Patrick Rothfuss' Kvothe from the Kingkiller series.
A sidenote: I think we can blame Moorcock for the (apparently) unavoidable 'subversive' approach to Elves that's ubiquitous throughout fantasy (indeed, doing the opposite would be subversive at this point, but writing Tolkien-styled Elves is much more challenging, so authors don't do it).
Fafhrd and the Gray Mouser
This is the most arguable inclusion on this list, but I included it because I think the characters are just as iconic as the rest, even if they have ceased to be part of the mental furniture of fantasy fandom.
They first appeared in print in 1939, with the bulk of collections appearing in the 1970s and the final addition in 1988. Other than a continued (if marginal) existence in RPG form, the IP is completely dead. Leiber collectively wrote less about his characters than the rest of the authors here, but I'd still argue he wrote more than he needed to and arguably kept writing them because there was profit in it (it tallies 7 collections/novels).
My personal experience is limited, as I've only read the Swords and Deviltry collection (in my mid-20s), diving into it due to Leiber and the series' reputation. I was broadly unimpressed (I saw the potential, but only the potential), so I never pursued it further. Despite my impression, overall this is the best of the various books I've read among these authors.
The world of Lankhmar is somewhat interesting and distinct (which is probably the only reason the IP is still floating around). I think the characters themselves are (now) far too generic to resonate, but it's a classic duo who aren't truly heroes, but not evil either, with a heavy splash of comedy and sex. The Gray Mouser clearly inspired Gary Gygax's Gord the Rogue (among others; arguably the Wulfgar/Drizzt combo in Salvatore's first series).
I think you could use the raw ingredients of the IP for a show or film, perhaps first showing the viability via a video game about Lankhmar, but the cache is so limited I fear it's destined to simply become a footnote in fantasy history.
The Sword of Truth
I didn't realize Terry Goodkind was still grinding out this series (22 books!) until I started doing research. The first book was published in 1994 and Goodkind has pumped out sequels continually (either every year or every other year), with the most recent in 2020.
My personal experience was trying to read Wizard's First Rule when the book came out in my late teens, but I couldn't get through it as I found it poorly written and boring.
I'm not an expert on the world or characters of the series, but my exposure to it made virtually no impression and at the time it was almost unheard of me to stop reading a book just because I wasn't enjoying it. The lead is meant to carry the interest on his broad shoulders (very much the standard in most modern fantasy writing) and he seemed like a riff on the Conan archetype in the most simplistic way imaginable.
Astonishingly there was a TV adaptation via Disney in 2008 (something I was completely unaware of) and, like Shannara above, it lasted two seasons before oblivion. Also like that show, it had a 'name' attached, in this case Sam Raimi. I highly doubt anyone else will tackle the IP, as Goodkind's series (more than the other authors here) is 'problematic' by today's standards.
Conclusion
If I've missed other book fantasy IP let me know (or if you can think of exceptions). In general an IP cannot thrive if its creator/s overexploit the same characters--the quality of the material wears down, gets tired, and gets old, and I think it's demonstrable that restraint ultimately pays more dividends (expanding to other formats--games etc--is fine, of course). We're also in an unfortunate era where adaptations make no effort to faithfully follow what made their source material popular, instead giving us generic shows dressed-up like fantasy.
This article was written by Peter Levi