Walk into any supermarket with a bakery counter, and you can buy a Marvel cake for your eight-year-old's birthday. Spider-Man, the Avengers, PAW Patrol – licensed character products for children are so normalised in retail bakery that we have stopped noticing them. The licensing model is mature, the margins are understood and the consumer demand is consistent. Now consider this: there is a generation of adult readers – overwhelmingly women in their twenties, thirties and forties – with...