Known to horror fans for their limited edition posters, high-end collectibles and vinyl records, many of which we’ve covered over the years here on Bloody Disgusting, Mondo was purchased by vinyl toy-maker Funko less than one year ago, and The Wrap now reports the depressing news that Funko has “unceremoniously laid off most of the staff of Mondo.”
The Wrap’s report continues, “They killed the poster division, which is a shock considering that’s how Mondo started, along with a division meant for cutting-edge experiences and products called The Lab, which was run by Mondo co-founder Rob Jones, who was also laid off during the process. Mitch Putnam, another co-founder, also got the axe. As of now, the only two divisions of the company that remain are the toys and records divisions. But insiders tell TheWrap it’s unclear how long those divisions will remain as part of the Funko portfolio.”
“Earlier this month, Funko revealed that it suffered a loss in the fourth quarter of 2022 and that it would destroy between $30 million and $36 million worth of inventory and lay off 10% of its staff. TheWrap has learned that much of those cuts landed on Mondo,” the report adds.
It was back in June 2022 that Funko purchased Mondo from Alamo Drafthouse, and the hopes were high that Funko would allow Mondo to take things to a whole new level.
Mondo said in a statement at the time, “For 20 years, we have poured our heart and souls into this weird little thing that Rob Jones and Tim League started in a closet in the corner of an Alamo Drafthouse lobby… then out of a closet underneath the seats of a Drafthouse auditorium (seriously). Eventually, we opened our own gallery space, and even started our own convention. But we needed a bigger boat… and that’s where Funko comes in. They understand what Mondo is today and are eager to help us become the company we want to be. We are still the same company that started in the theater lobby… only now with even more resources to support our vision. We can’t wait to show you what’s next.”
Our thoughts are with everyone on the Mondo team, who have worked tirelessly since 2004 to elevate the game of pop culture collectibles, and of movie poster art in particular.
Collecting just won’t be the same without Mondo on our side, that’s for damn sure.
UPDATE: We’re hearing that Funko is still planning on continuing Mondo’s movie poster division, despite the earlier reports to the contrary. Stay tuned for more as we learn it.
