There's also the unfortunate reality that not a lot of comic publishers are really eager to do "kid's comics". Kid's comics are really treated poorly in the industry. I doubt Image/Skybound was even really interested in MLP. And...I can see how there can be concerns. Kid's comics might have more scrutiny on them from parents...without actually SELLING more to justify the potential problems, if someone finds something they object to.
And...most western comic writers and artists have more experience drawing superheroes than anything else, since...that makes up about 80% of the market (a percentage that I expertly researched, I assure you...didn't just make that up, nosir!). Cartoony horses are kind of outside most artists expertise. And it makes it hard to find people who can draw them, without either heavily relying on other images or changing the artstyle completely (see: the small controversy of the Generations artist using a LOT of reference material that was copied FAIRLY closely, or the sad case of Jay Fosgitt who had a unique style the fandom didn't embrace). So, getting people who can actually work well on these kind of books can be kind of tricky, since you almost need to find people who are already fans of the franchise.
I'm not sure most comic companies KNOW how to work with a licensed book that isn't a action series. Worse comes to worse, if a writer doesn't know the characters well, they can always fall back on action comics cliches most of the time. But, with MLP being focused SO MUCH on personal interaction, knowing the characters is a MUST. You can't just cover it up by...introducing evil robot clones of the main cast or something.
Most licensed comics already have a little bit of a stigma attached to them, anyway. Since they can be seen from some as "cynical cash grabs".
MLP being a kid's comic AND a licensed comic AND focusing on mostly slice of life personal stories might just be too much for most publishers.
And that's not even getting into the licensing fee, which...I have no idea if Hasbro is asking for a lot based on how big G4 got, but it's probably too much for a smaller indie publisher, anyway.
Even Boom, which WAS focusing on doing some licensed kids comics, really seems to have cut back. They're still doing Buffy/Firefly, Magic the Gathering, and of course the Power Rangers comics as far as licensed stuff goes (and all of these are focusing on a older nostalgia market). But, their Adventure Time, Regular Show, and Steven Universe comics all ended, and they never replaced them with stuff like Craig of the Creek or Victor and Valentino or Infinity Train. Boom seems to be cutting back on their licensed books a little just in general.
Back in the day, Archie might have been a option. But...they actually haven't had a proper ongoing title for a while now, focusing mostly on digests, and a one-shot here and there. And sometimes I get the feeling that the Riverdale TV show might be the only thing keeping the lights on over there.
There's probably a bunch of indie publishers that might be willing to give it a shot, but then you're dealing with a company that's even smaller than IDW and fewer stores would probably carry it. IDW is probably still the least worst option. IDW was the only one doing the younger-focused Star Wars and Sonic the Hedgehog books.
Now, the MLP comics definitely sold. Really surprisingly high numbers for a while. This was a licensed book that could support two ongoing series for most of it's run! That's really rare. But...I think everyone's a little worried that G5 won't be as popular as G4. I can understand most publishers being hesitant to jump onboard, right now.
Intriguingly, I wasn't talking about that. What I had in mind was was the mystery arc in Manehattan with Applejack, Rarity, Fluttershy, and the CMC. An earlier writer did minor foreshadowing when they got wind of the character overlap the other writer/artist team was using.
Ah, MLP 21 and Friends Forever 6 circa 2014! I forgot about that.
https://tedlyanderson.tumblr.com%2Fpost%2F94635881434
My Little Pony: Friends Forever #6 is the sixth issue of IDW Publishing's My Little Pony: Friends Forever comic series. In the issue, Rainbow Dash is called upon by a newly crowned Queen Trixie to perform for a kingdom of Diamond Dogs. An event inspired by the issue, "Danger in Dimondia", was...
mlp.fandom.com
Manehattan Mysteries[1] is the eighth story arc of IDW Comics' comic series, spanning issues #21-22. In the story, Trixie is accused of stealing a rare diamond, and Applejack, Apple Bloom, Fluttershy, Rarity, and Babs Seed set out to clear her name and catch the real thief, Rough Diamond. An...
mlp.fandom.com