Funko net sales for the second quarter of 2021 spiked a whopping 141% versus the same period last year. The results reflect a mix of strong consumer demand paired with the first full quarter of running up against the skewed numbers of 2020, during which Funko’s business was particularly upended due to its licensed goods and an immediate stop to live events due to the COVID-19 pandemic.
The Q2 earnings report was accompanied by the news that Funko will shuffle its leadership ranks effective January 3, 2022. Andrew Perlmutter will take the helm as CEO while current CEO Brian Mariotti will assume the new position of chief creative officer (CCO) and continue to serve on the company’s board of directors.
“Our teams delivered the largest top-line quarter in company history,” says Funko CEO Brian Mariotti. “Second quarter net sales more than doubled versus a year ago and also eclipsed 2019 levels, reflecting broad-based strength across our products, channels, and regions.”
In the U.S. and Europe, sales eclipsed 2019 results with U.S. net sales increasing 110%. Sales of Pop! branded products grew 137% with evergreen properties accounting for 65% of net sales. A 132% spike in Loungefly led net sales of “other” products to grow 136%. Additionally, direct-to-consumer (D2C) sales grew by more than 190% and now account for 11% of Funko’s total sales.
Funko says that strong growth was seen across multiple categories, including action figures, plush, and games.
Upon completion of the leadership transition next year, Mariotti will shift focus to creative oversight, including product innovation, fan engagement, business development, mergers and acquisitions, and Funko’s Digital Pop! product line.
Funko’s year-to-date net sales are up 81% through the first six months of 2021.
