How to Run a Mock Agency: Classroom Simulation Based on WME Signing The Orangery

Hook: Turn fragmented IP theory into a single, high-energy classroom lab

Students and instructors often struggle to translate abstract IP rights and negotiation theory into practical, portfolio-ready skills. This simulation — a mock agency built around the real-world 2026 headline that WME signed The Orangery — gives learners hands-on experience as agents, scouts, and studio executives negotiating cross-media deals for transmedia properties.

Why this simulation matters in 2026

By early 2026, the media landscape is dominated by franchise-first strategies: streamers, publishers, and agencies prioritize IP ownership and cross-media exploitation. The February 2026 signing of The Orangery by WME illustrates how agencies package graphic-novel IP for podcasts, series, games, and merchandising. Use this classroom exercise to teach the legal, commercial, and creative trade-offs in modern deals.

“WME has signed recently formed European transmedia outfit The Orangery, which holds rights to strong IP in the graphic novel space.” — Variety, Jan 16, 2026

Learning objectives (what students will walk away with)

• Understand and negotiate cross-media rights: adaptation, games, merchandising, audio, and live experiences.
• Practice deal mechanics: options, purchase, first-look, revenue splits, and escalation clauses.
• Develop pitch and scouting skills: packaging IP for global buyers and identifying value pools.
• Apply negotiation tactics: BATNA, ZOPA, anchoring, and bundling in IP contexts.
• Embrace 2026 trends: integration of generative AI for pitch materials and the rise of transmedia studios.

Classroom setup — roles, teams, and timing

This simulation works for classes of 12–36 students. Below is a recommended grouping and schedule for a 3–4 week assignment, adaptable to one-week intensive formats.

Roles (typical team size)

• Talent/Content Owner (The Orangery mock founders) — 2 students: present IP history, creative bible, and redlines.
• Agency (WME-style) — 3 students: scout, agent, packaging lead.
• Studio/Streamer Execs — 3 students: business affairs, development, distribution strategy.
• Third-party buyers (games publisher, merch partner, audio studio) — 2–3 students each group.
• Observers / Jury — remaining students or instructors who score negotiation and provide feedback.

Timeline (suggested for a semester)

1. Week 1 — Orientation, research on The Orangery, transmedia modelling, and role assignment.
2. Week 2 — IP dossier creation: pitch decks, rights inventory, valuation memo, and legal redlines.
3. Week 3 — Negotiation rounds (two rounds: initial term sheet and final contract) and simultaneous pitch sessions to buyers.
4. Week 4 — Debrief, grading, and reflection. Publish class case notes and optional polished deliverables for portfolios.

Preparatory materials and research briefs

Provide students with a starter pack that mirrors the kind of materials real agencies and buyers receive:

• IP Dossier: synopsis, character bibles, previous sales, and international performance metrics.
• Rights Inventory Template: checkboxes for film, TV, streaming, animation, games, audio, translation, merchandising, theme parks, and live-action stage.
• Market Data Snapshot (2025–26): streaming consumption trends, gaming revenue for licensed IP, and merchandise case studies.
• Legal Primer: sample option agreement, purchase agreement, and merchandising license clauses.

Designing the scenario: The Orangery casefile

Adapt the real headline into a classroom-safe scenario. Keep factual inspiration but change identifying details where needed. Core simulation prompts:

• The IP: a European graphic novel studio with two flagship titles: a sci-fi epic and an adult-themed romance series.
• Goal of the content owner: maximize long-term value through selective partners while retaining key adaptation rights.
• Buyers: a major global agency/packager (WME role), a US streamer with European expansion plans, a games studio, and a merch house.
• Constraints: a limited 12–18 month window to exercise an option; exclusivity demands from multiple buyers; EU/US jurisdictional issues.

Key teaching moments: Cross-media rights explained in action

Rather than a dry list, teach rights by negotiation scenarios:

1. Adaptation Rights: film and series — discuss term lengths, formats (limited vs. ongoing), and territory exclusivity.
2. Interactive Rights: games and AR/VR — explain revenue-share vs. licensing models and creative control over characters/plot.
3. Merchandising & Brand Licensing: scope of products, quality control, and minimum guarantees.
4. Audio & Podcast Rights: serialization, non-exclusive global audio rights, and performance royalties.
5. Sub-licensing and Sequel Rights: how to structure reversion triggers, escalation payments, and participation points.

Sample negotiation toolkit (what students actually use)

Give students templates and checklists so negotiations focus on strategy rather than format confusion. Core artifacts:

• Term Sheet Template — deal type (option/purchase), up-front payment, option period, exercise price, territory, media covered, and exclusivity.
• Option Agreement Key Clauses — representations & warranties, delivery materials, creative approvals, reversion events.
• Merchandising License Checklist — MOQ, royalties, retail channels, quality approval, and audit rights.
• Escalation & Bonus Structures — box office/streaming thresholds, cumulative revenue share, and backend participation.
• Redlines Guide — must-have vs. negotiable clauses for owners, agencies, and buyers.

Quick sample term-sheet bullets (class-use)

• Option fee: $50,000 for 18 months; exercise price: $1,000,000.
• Territory: worldwide excluding certain European language territories retained by owner.
• Media: live-action feature & series, animation, audio, games (non-exclusive for mobile casual), merchandising (exclusive for apparel).
• Backend: owner receives 5% of net profits on film; 3% of gross on merchandising after $500k MG.
• Creative approval: owner consult rights on casting and screenplay; production company retains final cut for streaming delivery.

Negotiation phases and tactics

Teach students to structure talks in measurable moves. Use these phases and tactics for each round.

Phase 1 — Discovery & Positioning

• Set priorities: what is non-negotiable for the owner? (e.g., character integrity, certain territories)
• Research BATNA for each party — a strong BATNA changes leverage.

Phase 2 — Anchoring & Bundling

• Anchor with a high-value initial ask, then bundle less desired rights with high-value offers to trade.
• Practice splitting bargaining across time: short-term exclusivity vs. long-term non-exclusive revenue streams.

Phase 3 — Closing with Conditionality

• Use conditional clauses to close deals: milestone payments, performance gates, and reversion triggers.
• Lock in deliverables and audit rights to maintain trust and clarity post-signature.

Scoring rubric: assess negotiation and IP literacy

Score teams on a 100-point scale. Provide clear rubrics so students know expectations.

• Deal Structure & Creativity (30 pts): Did the team craft a commercially viable, fair, and creative package?
• Legal & Rights Accuracy (25 pts): Were clauses appropriately framed for cross-media rights and reversion mechanics?
• Negotiation Skills (20 pts): Use of BATNA, anchoring, listening, and progressive concessions.
• Pitch & Packaging (15 pts): Quality of the pitch deck, logline clarity, and market rationale.
• Professionalism & Collaboration (10 pts): Teamwork, role fidelity, and responsiveness.

Examples of classroom outcomes and deliverables

Encourage production of portfolio-friendly artifacts:

• Signed mock term sheet and redline summary.
• One-page IP valuation memo with market comps (e.g., successful graphic-novel adaptations in 2022–2025).
• Pitch deck tailored to a specific buyer (streamer vs. games publisher).
• Reflection memo on negotiation choices and alternatives.

Integrating 2026 trends and technology

Update the exercise each year. For 2026, integrate these trends:

• Generative AI in Pitching: Allow teams to use AI tools to generate concept art, series bibles, or sizzle reels, then discuss ethical and IP attribution issues.
• Global Platform Expansion: Discuss how European IP (like The Orangery) is now more attractive as US streamers accelerate local-language commissioning (2025–26 trend).
• Interactive & Gaming Value: Show revenue splits from live-service games and mobile tie-ins; examine cross-promotion strategies.
• Regulatory & Rights Risk: Teach how data, privacy, and European content rules affect rights clearances and distribution.

Common teaching pitfalls and how to avoid them

• Avoid letting legal minutiae dominate: focus grading on commercial outcomes and understanding, not legal drafting perfection.
• Prevent role collapse: rotate roles in subsequent rounds so all students experience agency vs. owner vs. buyer dynamics.
• Manage time: cap negotiation rounds to encourage prioritization and decisiveness.

Debrief guide: critical reflection questions

• What concessions produced the most value and why?
• Which rights were hardest to price and how did teams approach valuation?
• How did 2026 market realities (streamer demand, gaming, generative AI) change bargaining positions?
• What would you change in the contract to protect the IP owner long-term?

Advanced variants and exam-style assignments

For assessment or higher-level classes, convert simulation outputs into graded deliverables:

• Written exam: draft a 2-page term sheet under time constraints with specified priorities.
• Case brief: compare your mock deal to WME–The Orangery signing and evaluate strategic differences.
• Portfolio task: produce a market-facing one-sheet and a legal redline to submit as evidence of competence.

Real-world relevance: why students need this

Industry moves in 2025–26 make this exercise timely. Agencies like WME are packaging transmedia studios and European IP for global buyers. Students who can negotiate cross-media deals, explain revenue waterfalls, and draft pragmatic terms are in demand for agencies, publishers, and legal teams.

Teacher’s checklist before you run the simulation

• Prepare starter dossiers and templates (term sheet, option agreement, rights inventory).
• Assign roles and distribute grading rubric in advance.
• Run a short workshop on negotiation basics and BATNA mechanics.
• Provide examples of recent deals (redacted) and market comps from 2024–26.
• Schedule time for a public pitch day and a private negotiation round.

Actionable next steps for instructors and students

1. Download or create the IP Dossier and Rights Inventory template and adapt to your course content.
2. Assign reading: recent articles about agency packaging and transmedia deals, including coverage of WME-The Orangery (Jan 2026) and platform expansion reports from late 2025.
3. Run a 60–90 minute negotiation workshop the week before the simulation begins.
4. Use the scoring rubric to conduct peer and instructor evaluations immediately after each negotiation round.

Final thoughts: make the classroom the industry sandbox

This mock agency exercise turns fragmented IP concepts into actionable skills. By roleplaying agents, scouts, and studio execs on a scenario modeled after the WME–The Orangery development, students gain a modern understanding of cross-media negotiation dynamics that matter in 2026 and beyond. The exercise teaches commercial reasoning, legal literacy, and negotiation craft — the exact combination employers now seek.

Call to action

Ready to run this in your class? Download the full simulation pack (term-sheet templates, rights inventory, rubric, and sample case files) and a 4-week lesson plan at Knowledged.net/sim-pack. Share your class outcomes and we’ll feature top student pitches in our educator showcase.

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