i_hope_you_rot: I think the comics / movie / TV series / Minecraft games were a bad idea .
No, they were a great idea!
How many adventure game classics have been made with a third party IP?
Indiana Jones, Star Trek, Blade Runner, Sam&Max, etc.
The problem is that Telltale did almost nothing but licence stuff, and even with that, their quality started to go down.
Had they had some original IPs, and had they put so much effort into quality as those examples I mentioned, there wouldn't have been any problems. At least, that's the assumption.
When Telltale was good, they were very good. Wallace & Gromit has the exact feeling that the animations had. Too bad they couldn't keep up with that in the long run.
Of course their sales department wasn't probably very good. First they were kind of generous with free DVD-ROMs and all that, but then moved on to overpriced online sale, where their games were decent price only with -90% discounts. In the end, they offered some of their titles only as DRM versions, so add that to their quality issues, it's no wonder they weren't making money.
IPs as such were never a problem.
Having said that, I have always wondered whether making games like "Strong Bad's Cool Game for Attractive People" was really the smartest thing. You could probably find many other better-known better-selling IPs to base your games on...