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Funko Pop! Overload: Company Prepares to Throw Hundreds of Thousands of Collectibles in the Garbage

Is the Funko Pop! craze finally over? The company behind the iconic chibi figurines is in deep trouble, with warehouses overflowing with unsold inventory. In fact, the situation is so dire that Funko has announced it will be throwing hundreds of thousands of collectibles into the garbage to reduce costs.

During a recent earnings call, CEO Brian Mariotti revealed that the company has been bleeding cash renting shipping containers to hold all of the excess inventory. This comes on the heels of a 48% increase in inventory compared to the previous year. The company intends to eliminate this excess inventory in the first half of 2023, resulting in a write-down of approximately $30 to $36 million.

Part of the problem seems to be that the initial rush on Funko Pop! sales during the early pandemic years was a temporary phenomenon. Now that sales are dropping, the company is left with a ton of extra stock at the same time. It's also possible that the entire bobblehead craze has hit peak saturation.

While some Funkos have sold for thousands of dollars on the secondary market, the reality is that 99% of them are essentially worthless. It's a sad commentary on our culture that so many of these figurines will end up in a landfill in Arizona. Maybe it's time for us to reconsider our obsession with collectibles and focus on more meaningful pursuits.

(via: Kotaku)

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