Activision (NSDQ: ATVI) apparently has aspirations well beyond the video-game world for its hit franchise Guitar Hero. CEO Bobby Kotick told THR that the franchise “might make for a good TV show or good concert tour,” but the publication’s sources say discussions about it are well under way.

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Activision subsidiary Blizzard sold the rights to its best-selling MMO World of Warcraft to Legendary Pictures in 2007, but the project has been on the shelf since then. The plan was to set the film in the WoW universe, but the game’s fantasy setting (not to mention its extremely devoted—but critical—user base) could be what’s been keeping the brakes on.

Given Guitar Hero’s mainstream appeal, and the fact that music legends like Aerosmith, Metallica and Van Halen have already lent it their likenesses—the idea of it jumping to a TV show, film or tour doesn’t seem like as much of a stretch. Still, it does beg the question of just how much Guitar Hero saturation the market can stand. With gamers already complaining about too many installments of the franchise, the media blitz surrounding a new property could wind up driving the brand’s equity into the ground.