The big picture: Developers are increasingly turning to their existing catalog of intellectual property for monetization purposes. It's cheaper than creating new characters, plus it gives fans the opportunity to dive deeper into established storylines.

Netflix’s long-rumored animated series based on the popular Diablo franchise appears to be a lock.

Nick van Dyk, president of Activision-Blizzard Studios, notes on his LinkedIn profile that he is the executive producer of Diablo, a TV adaptation of the franchise that is rendered in anime style. The show is currently in pre-production and will be distributed worldwide through Netflix, he added.

A premiere date wasn’t mentioned although given its pre-production status, it could still be a ways out. We also know that Blizzard is working on Diablo IV which it showed for the first time at BlizzCon 2019 back in November. That project is likely a ways out, too – perhaps the two will be timed for a simultaneous launch?

The executive also revealed that, along with his creative partner, he developed and sold an animated series based on Blizzard’s Overwatch franchise.

The fate of the Overwatch series seems far less uncertain as van Dyk didn’t say who it was sold to or what the new owner is planning to do with it.

Blizzard wouldn’t be the first developer to turn to steaming to monetize IP from its catalog. Konami teamed with Netflix a few years back to develop an animated series based on the Castlevania franchise. Netflix last month also confirmed rumors that an anime film based on The Witcher is in the works.