Funko licenses out the team that made Disney Villainous "to reduce our debt"
Jan. 18, 2024Funko continues “streamlining our business”
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Funko has announced an “exclusive worldwide license and distribution agreement” for its board game portfolio as a way to tackle the company’s debt. This includes the studio responsible for making the originalDisney Villainous.
According to the press release, a deal was struck between Funko and Goliath (which is primarily known for its range of party and children’s board games) that would allow the latter to become sole distributor for Funko’s catalog worldwide. Goliath has also “agreed to collaborate with Funko to develop and distribute new games and puzzles,” and gains “rights to intellectual property related to the studio.”
Because that deal includes Prospero Hall, an incredibly well-respected studio with everything fromJurassic World: The Legacy of NublartoThe Haunted Mansion: Call of the Spiritsunder its belt, this deal is pretty noteworthy. In addition, the license presumably includes theFunkoverse Strategy Gamethat uses major brands like Marvel.
In terms of why Funko is handing over a studio responsible for what are arguably some of thebest board gamesof recent years, it’s been attempting to cut costs (including through layoffs) over the past few months. Interim CEO for Funko, Mike Lunsford, stated that this transaction “is designed to keep with our previously stated goal of streamlining our business by focusing on our core assets. We intend to use the proceeds from this transaction to reduce our debt. We believe that Goliath’s size and scale, as well as their intimate knowledge of the global games and toys market, make them a strong partner for Funko in the board game category.”
Intriguingly, it doesn’t seem like shoppers will notice much of a difference – judging by what Goliath CEO Jochanan Golad has said, it seems as if the Funko branding will remain. More specifically, Golad notes that “we look forward to bringing the Funko brand and style to the game aisle in new and innovative ways.”
In addition, a new Funko game is on the way despite the deal. Golad adds that Goliath is working on a new title called “Bitty Pop! Chase, which includes Funko’s popular Bitty Pop! miniature collectible characters.”
For recommendations of what to play next, check out our guide toboard games for 2 players, or must-havefamily board games.
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