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Funko is throwing away over $30 million worth of Funko Pops due to surplus of inventory

A shocker to all Funko Pop! collectors: Funko’s about to downsize its stocks big time.

On March 6, 2023, the maker of the famous vinyl figurines with big heads announced that they will be “eliminating” a part of their inventory in order to alleviate their financial troubles. Funko had also said that they will be throwing away over $30 million dollars’ worth of Funko Pop! figurines to the trash.

In their Q4 earnings report, the company detailed their reasons for their decision, stating that there was a “waning demand for the toys and a surplus of inventory”. Funko shared that because of their excess in inventory, they had to rent more warehouse space just to keep all their Funko figures. These figurines included Baby Yoda, Harry Potter, and more.

At the end of 2022, Funko was said to have a total of $246.4 million worth of dolls, which was 48% more of what they had in the previous year. Funko is also set to cut about 10% of their workforce in an effort to reduce the costs done by their excess storage.

Funko Pop fans had different reactions to the news, with some making memes of the situation and others suggesting other use for it.

Well, that’s a real shame.

Funko also mentioned in their Q4 report that they had lost a total of $47 million by the end of 2022, and their stock had fallen by 9.4% so far this year.

In other somewhat related news, it was reported this month as well that pallets of Magic: The Gathering cards were dumped at a Texas landfill, sparking speculations that Wizards of the Coast, the company behind the cards, is truly overprinting cards to boost their sales.

Other POP! stories that you might like:

‘Decoding Funko Pops!’: Understanding the craze behind these collectibles

Destination Funkotown: Toys that bring out the inner child in everyone

The aftermath of the bombshell ‘K-pop merch’ episode? Stans fear K-pop items are the new target for thievery

YG Entertainment leaves fans in shock after changing the final lineup of BABYMONSTER

Miley Cyrus releases demo version of ‘Flowers’

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