No “Pokemon GO” Film Anytime Soon

The Pokemon Company and Nintendo launched the wildly popular “Pokemon Go” augmented reality app last week in select markets and has become the biggest mobile game in U.S. history. A few days ago came a report that Legendary Pictures is in the very early stages of working on a deal for a live-action “Pokemon” movie.

Now though a new THR story surfaced today which claims that, despite the massive success of the game, both The Pokemon Group and Nintendo are unwilling to license their property out for a movie adaptation just yet.

The trade talked with an unnamed movie producer who has been in pursuit of the rights and found out why the companies aren’t keen on a film version: “Pokemon Co. and Nintendo are not focused on movie rights currently. The company doesn’t want a movie deal distracting its execs, nor does it want a deal to potentially detract from the game. They view a movie deal only as a downside at this stage.”

A potential movie licensing deal would be worth anywhere between $5 million and $10 million, nothing compared to the revenue the Pokemon Go app has generated thus far. Since the Pokemon Go launch, Nintendo’s stock has jumped 65% and added an estimated $12.8 billion to the company’s value.