Marvel, which has ramped up production to be able to make three movies a year, is proving that, if done correctly, these character universes can resemble successful technology platforms—ecosystems that enable both creative risk taking and significant growth and profits. But too often, other companies look at the winning result without appreciating the forethought that produced it. Look no further than Marvel’s arch nemesis, DC Entertainment, which, in conjunction with Warner Bros. (its parent company), has tried to catch up to Marvel by launching its own “extended universe” of characters. ... Marvel’s approach, then, has been easy to replicate but challenging to duplicate. What is the true essence of Marvel’s success?