For all the american readers out there Airfix and Hornby are 2 modelling companies, one of which was made famous by selling kits of old WW2 military vehicles and the other a railway enthusiast company. Both are UK-based.

http://news.bbc.co.uk/1/hi/business/7131047.stm

For those that dont know Airfix went into administration in late 2006 and was brought by Hornby, a company with a like-minded audience I suppose, in 2007 for 2.6m ($5m)

This I suppose is a different market to GW but a few of the things Hornby have done in the last few years to keep their business going (Model Railways are hardly mainstream anymore) got me thinking:

"If we can apply the same lessons that we've learnt with Hornby to the Airfix business, really focus on what the needs of the enthusiasts are, but also to make the product more relevant to a new generation of collectors, then I think we'll succeed," says chief executive Frank Martin.
This got me thinking: Is this what GW are doing wrong? By turning the focus to getting newer players into the hobby and less on the Vets they are hurting their profits and sales. All the players who grew up playing 2nd edition in the 90's are now in their 20's, with more disposable income than your average teenager and more free time too. This is also the core pro

So Airfix is looking to licensing deals - making models of popular TV and film characters - to grab the attention of today's youngsters
.

Plus would the odd licence here and there hurt sales? Imagine if you will GW put their considerable manufacturing and casting techniques together to make non-GW models of a high quality, sell them at a managerie of outlets such as Toys'R'Us. They could include small advertising catalogues of Warhammer to get advertise to a new audience.

I imagine GW being able to make some great 3rd party models for things like Star Wars (groan), Marvel, DC, Narnia, Halo etc etc. They could then use these non-gaming models to get more money and more of a userbase.