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I'm sure there's a thread about this buried back in the abyss somewhere, but I am still questioning WHY this hasn't happened. Not just from a fan perspective, but a business perspective.
Reasons why it should be made (dispute if you disagree):
A. Millions of fans worldwide
B. Hours of content ready (world already created in books/movies)
C. Little to no need to invent lore
D. LOTRO did it and is still fairly succesful
When I saw that Warner Bros bought Turbine (maker of LOTRO), I thought a Harry Potter MMO would be announced soon after. The fact that they have loads of money, an MMO developer at their fingertips, and the rights to the franchise makes me wonder..
Now, sure it could be a bust. They could screw it up majorly. But seriously, what Harry Potter fan wouldn't at least consider the idea? Making your own story in the world of the Harry Potter series?
From a business perspective, I'd imagine they would make up almost any investment in box sales alone just due to the sheer popularity of the series.
edit: added poll