If there’s one thing you can count on, it’s that you’ll see some of most notable announcements from comic publishers hit at the biggest American conventions. That’s for a good reason. Events like San Diego Comic Con and New York Comic Con are high profile, high awareness ones that attract media attention and the eyes of eager fans. If you’re going to make a dent in the 24-hour news cycle, these are good places to do it at.

Which is what makes Marvel’s recent deluge at San Diego so bewildering: it was all so underwhelming and uninspired.

Whether you’re talking new comics about older eras of Marvel, new comics that maybe just feel like they’re from an older era, new versions of old characters, or a new edition of an aging one-shot structure, Marvel’s upcoming slate felt tired from the jump. And when it didn’t, it just seemed exhausting, like the upcoming “Gang War” crossover between Amazing Spider-Man, Miles Morales: Spider-Man, and four new mini-series — including one starring a character that already has an ongoing which could have tied in to the story. 1 These announcements didn’t build excitement; they made me ask myself a single question.

“What’s wrong with Marvel right now?”

I’m not the only one wondering that. It’s been a common topic of late. Whether it’s creators, retailers, or plain old readers, there’s a simmering sense of doubt and discontent with the direct market’s biggest publisher. In recent conversations about Marvel, words and phrases like “disillusioned,” “unfocused,” and “no identity” were pretty typical. It’s easy to see why when you look at the publisher’s current slate and those recent announcements. While there are good comics in its line, the whole just feels like a mess. The pervasiveness of that feeling has resulted in customer confidence fading, retailer skepticism rising, and general enthusiasm for the publisher waning.

Which is a problem. Obviously. But that extends beyond Marvel itself. If there’s one thing I’ve heard repeatedly from comic shops, it’s that no house has a bigger area of effect on the direct market than Marvel. When they’re up, everyone is up. When they’re struggling, everyone does. Maybe it should be no surprise that the direct market appears to be laboring right now.

This lack of enthusiasm in Marvel isn’t new, though. I wrote about this subject a couple years back, at which point the surrounding vibe was one of boredom, a sense that the publisher was adrift at a time everyone else in the direct market was thriving. Boredom’s fine for Marvel. They can work with that. As retailer Eitan Manhoff from Oakland’s Cape & Cowl Comics put it to me recently, “Marvel benefits from inertia more than any other publisher.” That usually results in fans dutifully buying their books, even if they aren’t excited about it.

Since then, the energy has changed. While Marvel is assuredly moving plenty of units to shops, it’s becoming a tougher sell to others in the direct market sales chain. There’s a growing dissatisfaction with its material and its approach, one that’s hitting even the most religious of Marvel zombies. As one retailer put it to me, there just aren’t “Marvel all” customers anymore, with even its most ardent supporters bristling at the product mix or moving on from titles they’ve read for years or decades simply because interest has evaporated. Faith in the publisher has diminished. With it, habits are breaking — and breaking hard.

And that’s when things become a problem.

What typically happens if you ask a disparate group of stakeholders for their take about Marvel is you’ll get a similarly wide mix of answers. I know this because I’ve done it. 2 Comics are a subjective medium, and one person’s nadir is another’s high point. More than that, your role in comics might impact how you view the publisher’s line. If a critic thinks Marvel is struggling creatively, they’ll see it negatively. But if the same titles are brisk sellers, then retailers might have an opposite view. That’s how this usually works.

Not this time, though.

The answers — and issues — were incredibly consistent, no matter who I talked to. There was an overwhelming sense that Marvel seems to be going through the motions, which one retailer summed up nicely by asking me, “What’s (Marvel’s) ethos?” The very idea of what a Marvel comic is has shifted to become everything and nothing at the same time.

Is the focus on today or is it on revisiting storylines from previous eras? Is it on building Marvel comics or reinforcing Marvel Studios? Is it on creating lasting stories or churning out titles to burnish the bottom line? It’s all those things. That’s where trouble lies. The most consistent takes on the publisher tied into these ideas, something comics critic Oliver Sava summarized nicely.

“It feels like Marvel is in this awkward space where it’s trying to serve its corporate masters with a lot of (Marvel Cinematic Universe) synergy while also trying to appeal to its long-time fans by putting the nostalgia machine into overdrive,” Sava said.

A consensus formed around the idea that Marvel filling the market with a bevy of titles from multiple eras that fit within different formats — but mostly mini-series — has created a situation where its line has “no identity,” as one retailer put it to me. And when the secret sauce to your sales proposition is a shared universe that unites your line, that’s a bit of a problem.

You can find a great example of this in August’s release list. In this month alone, you could buy four different X-Men titles — Jean Grey #1, Storm #4, Magneto #1, and X-Men: Days of Future Past – Doomsday #2 — and read stories (or parts of them) that exist within five different periods of Marvel, 3 all while the mutant side of things is going through what is arguably its most significant storyline since 2019’s House of X/Powers of X duology. The X-Men line is always confusing to a degree, but this is pushing that to unnecessarily difficult levels.

And that’s just one example of many. In any given week, you could find Marvel tales taking place across any number of eras. 4 The current reading experience is like trying to make a single puzzle out of pieces from ten different boxes. Nothing fits together, so it’s going to frustrate more than it’s going to excite. More than that, while these titles are predictable sellers, it’s typically to a small audience of long-time readers. 5

The MCU’s looming shadow doesn’t help matters either. One retailer told me its growing influence has created a situation in which Marvel’s comic line is feeding off the movie and TV show releases which is built from older comic stories which creates a feedback loop where everything is stale and regurgitated. Readers are sensing this and turning their noses up at the product that most clearly fits that bill.

This all would be more palatable if the titles within today’s continuity were consistently delivering the goods. That’s just not the case, according to Comic Book Herald’s Dave Buesing.

“The Marvel Fresh Start of 2018 has devolved into a Marvel malaise in 2023,” Buesing shared. “Top-tier creators like Al Ewing, Kieron Gillen, Ryan North and Jed MacKay (among others) are keeping the line from sinking, but it’s about as rough as I’ve seen it.”

The journalist, critic, and Marvel historian had a theory as to why this is the case. His take is there are two essential elements to his favorite stretches for the publisher. One is that “there’s a clear center of the universe, or central presence everything revolves around,” which Buesing notes is typically creator driven. The other is that there’s “relative artistic freedom to try new things.” If Marvel exhibits both of those, they’re cooking. Even one puts them in a solid position.

“Marvel is struggling on both elements currently,” Buesing told me.

The former point connects to how Marvel’s line lacks an identity, and it’s not just the nostalgia-oriented titles or MCU influenced ones that are to blame. Most exist as an independent isle in an archipelago of disconnected releases. Some groupings are bigger, with the X-Men’s side of the world feeling connected to itself and Invincible Iron Man. But for the most part, releases rarely feel as if they share more than the Marvel branding on their covers. There’s little to connect one title to another, and while there are benefits to that — titles can exist on their own without needing to constantly reflect events happening elsewhere — it also creates a situation where everything just sort of floats along, existing to exist but little more than that.

This is crucial, and arguably where much of the ongoing malaise is coming from. But that second point Buesing made is as important as the first. While the shared universe is the straw that stirs Marvel’s drink, having exciting, unconventional takes within its line — like Tom King and Gabriel Hernandez Walta’s The Vision, Matt Fraction and David Aja’s Hawkeye, G. Willow Wilson and Adrian Alphona’s Ms. Marvel, or something more recent like Al Ewing and Joe Bennett’s Immortal Hulk — spices things up for Marvel and has an area of effect that reminds readers that greatness can come from any title. Those might not always prove to be top sellers, but they can have an outsized impact in how the publisher is viewed qualitatively. 6 And those feel increasingly absent these days, according to Buesing.

“What’s the distinctly eye-opening #1A title since Immortal Hulk ended? Where are the books with creators taking swings toward interpretations of the Marvel Universe we haven’t seen before?” Buesing shared. “They don’t exist right now.”

That doesn’t feel like an accident. It feels like a choice, as the focus has shifted from multiple ongoings from single creators towards a greater volume of short-run, low-risk mini-series from a greater mix of writers. 7 There isn’t a ton of space available for those unexpected takes with a big vision and even bigger impact, nor are there as many creators who have the weight, library of works, and interest necessary to get those sorts of new ideas approved.

The latter is connected to persistent creative losses at the publisher, as top names like Chip Zdarsky, Kelly Thompson, and Jason Aaron have seen their Marvel contributions wane and up-and-comers like Tini Howard, Vita Ayala, and Matthew Rosenberg have disappeared altogether. There’s been a quiet migration from Marvel to DC and other publishers, with few notable names replacing them. The impact of that brain drain is starting to be felt.

Maybe that’s why there has been so much new talent of late, with a deluge of Marvel newcomers tackling titles and — as one retailer put it to me — creators that previously would have been mid-tier ones being elevated simply because they’re still there. Those big creative swings being few and far between likely stems from that, as the publisher has cultivated few marketable names of late outside of Jed MacKay. That’s resulted in a line that feels more mechanical and sales-driven than ever, with stories often seeming secondary to other needs.

In the place of those big swings has been a cavalcade of forgettable mini-series, retreads of old stories, 8 and an often-bewildering variant program that focuses on volume above anything else. 9 These efforts have been enough to establish a healthy floor of orders for the publisher. It’s a safe approach, in theory. But you don’t inspire anyone by doing that, least of all readers. And that’s where the problem lies.

In my conversations with shops, one of the recurring themes was that there’s a growing sentiment amongst customers that Marvel’s comics just aren’t that good. Those other efforts endeavor to paper over that growing sentiment, but it’s increasingly ineffective. This has a cascading effect down the line, as reader attrition has accelerated to wildly unpredictable levels. And when readers have limited faith in the product, retailers begin to doubt it as well.

“I’m uneasy with where Marvel is right now in terms of sales and the books that they’re putting out,” Manhoff told me. “I have a pretty good sense for how many we’re going to sell of issue one (of a new Marvel series). I have no clue what we will sell of issue two.”

“It doesn’t matter how many we sell of issue one, how hyped the staff is, or how many customers seem to be into it, I cannot guess what we (will) sell on a second issue,” the retailer added. “And that’s an uneasy feeling.”

That goes back to the idea of faith. The current situation reflects an environment where readers seem to have no sense as to what matters in Marvel comics anymore. Retailers reported that the publisher’s approach has confused customers, resulting in them turning on titles and lines they’ve long been loyal to. Some flavors work better than others. Shops told me ongoings are the closest thing Marvel has to consistent performers within the line. Minis often collapse almost immediately upon release. But that can be unpredictable too, as even flagship releases face surging attrition.

“We sold a lot of (the recent) Avengers #1. We really came down to earth with issue two. And with issue three, we are above where the last Avengers series ended, but not by a lot, and not what our sales of issue one would’ve led you to expect,” Manhoff told me. “With issue one selling somewhere in the realm of 75 to 100 copies, I would expect 50 people to come back for issue two, but I think maybe 40 did. And then, when issue three came, I think we were looking at 35 copies sold.

“So, what happened to those other 40 people?”

The bewildering thing is Manhoff and his entire team liked Jed MacKay and C.F. Villa’s approach to this book. They pitched it to readers. Readers tried it out. They all evaporated, making the retailer wonder, “Why aren’t we selling more?”

That title isn’t alone in facing that question. Even the safest bets in Marvel’s line aren’t so safe anymore. The one lasting stronghold at Marvel has been the X-Men line. Jonathan Hickman’s work on House of X and Powers of X set up a storytelling environment that revitalized those characters and created opportunities for other creators to thrive in, thrilling readers in the process. While it’s still doing better than its peers, that excitement has worn away with the passage of time. Top titles like Immortal X-Men and X-Men have been sturdy, but others throughout the line have seen readership deteriorate. That’s why for some, the Fall of X is a timely arrival.

“Whether it’s due to editorial mandate or just the creators being done with this era of the X-Men, the Fall of X feels like it’s coming at the appropriate time,” Sava said.

We’ll see if it actually leads to a change in status quo. That’s a big question that will be answered soon enough. As Buesing told me, Marvel has become “increasingly reliant” on Krakoa as the center of its line, even acting as the kindling for the flame of 2022’s Judgment Day event. That might mean the Fall of X storyline is less about a restart and more about a refresh to the Krakoa experience. The publisher might fear what it has to center its universe without that environment. That would be understandable, because some of the recent backbones of the line — namely Chip Zdarsky and Marco Checchetto’s Daredevil and Jason Aaron’s Avengers — are at an end, effectively. Add the current X-Men approach to the mix and that’s suddenly a lot to replace.

It’s worth noting, though, that saying Marvel is struggling isn’t the same as saying nothing is working. The publisher has a lot of strong titles, ones that often top my read pile. 10 I’m not alone in believing that. Sava told me he’s “still reading a lot of Marvel books and excited for upcoming titles.” 11 The publisher has even developed interesting new projects like Marvel Unlimited’s Infinity Comics, a digital effort aimed at reaching new audiences and highlighting fresh voices. The problem isn’t that everything is bad, or even that it’s not interesting. It’s, again, a question of ethos.

“What I want is more innovation rather than regurgitation, but the current editorial direction is increasingly chained to past comics and current Marvel Studios projects,” Sava said.

That was the central thesis to most complaints. Single issue superhero comics are already a niche interest. Marvel’s focus is increasingly on a niche of that niche, as it endlessly endeavors to squeeze every ounce out of an aging readership. That concerns Buesing, both as a fan and an observer.

“Every action and book emphasizes a focus on the small audience that already exists — or used to exist — rather than anything youthful, diverse, or now,” Buesing said. “This element bothers me the most because it’s the most short-sighted, and the one that reminds me the most of Dan DiDio’s lament that DC ‘lost a whole generation of readers’ during his run as Editor-in-Chief.

“I don’t want that for Marvel.”

If there’s one person that seems to be viewed as the main character in this tough time, it’s C.B. Cebulski. Marvel’s Editor-in-Chief is entering his sixth year at the head of the publishing line, and while he has faced major headwinds — the pandemic, distribution changes, the Isaac Perlmutter/Disney drama, etc. — and certainly isn’t alone in guiding the ship, 12 it’s undeniable that his time leading the way for Marvel editorial has been uneven, at best. That’s reflected in the fact that if you asked me for a defining characteristic to his reign, it’s that there is no defining characteristic.

There’s a real feeling of experimentation without purpose. Marvel’s line just seems like guesswork, as if everyone is throwing things at the wall to see what sticks. Some of it does. Much of it falls right off, though. The San Diego Comic Con announcements I mentioned earlier reflect that. Only three of the six take place in the current era, and only one seems consequential in the slightest. 13 That’s important because all superhero comics are an exercise in maintaining the kayfabe that these stories “matter,” to some degree. The Cebulski Era has sent some of its readers headfirst into an existential crisis, one that calls into question the importance and merit of Marvel’s own product.

Again, it’s impossible to tell what’s fueling these decisions. Disney is said to have significant financial expectations Marvel has to live up to, no matter what. The pandemic forced the publisher to tear the entire line down and rebuild it in the face of a new reality. They started anew with a first time direct market distributor learning on the job. We have very little idea as to what the Perlmutter dismissal and Marvel’s folding into the Disney mothership meant for the line. These are all massive challenges with equally massive implications on decision making. Any one is a lot to deal for someone to negotiate. All of them happening over the same short period? That’s even more arduous.

But Marvel’s comic division feels as if it’s at a crossroads. While its problems in the direct market reflect the larger issues within it, it’s like I noted in the open: Marvel’s situation both creates and accelerates those troubles. Where its line goes, the market follows. And right now, it’s a struggle.

That’s part of the reason it feels like change is coming for Marvel — and necessary. Sava certainly believes it could be, especially in writer Jonathan Hickman’s two big projects, G.O.D.S. and Ultimate Invasion. The former is introducing a wave of new characters while reinvigorating the magical side of the publisher, while the latter is resuscitating and maybe even reinventing a once vital second universe for the publisher. Those could prove to be essential additions to the mix for the publisher going forward, Sava believes.

“I don’t know if either of these can be a Krakoa-level success without the X-Men fanbase, but if they land with readers, they could help give the Marvel Universe the imagination boost it needs.”

Based on my conversations, “needs” might be an understatement. There’s a growing belief that Marvel’s current path is a bad one, one focused on short-sighted tactics that could prove costly in the long-term for both themselves and the direct market as a whole. To reverse that trend, Marvel might need to start looking elsewhere for answers. A shift in thinking could be necessary to get there. 14 Its line is typically strongest when it empowers its creators to do what they do best: create new ideas and visions. They need those to inspire readers and reinvigorate the line, and they need them fast.

Maybe Marvel is headed that way already. As one retailer suggested to me, “It feels like they are buying time.” That is absolutely true, but for what? And when is it coming? Those questions are important because its line has felt stuck in neutral for several years now, at least outside the X-Men. At some point, we need an answer for what Marvel is buying time for. Otherwise?

They’re just wasting it.