Hi all,
To celebrate the return of Undervalued to the Reddit community, I decided to put together a quick DD and post it on a stock that I have had my eye on for a little while. It's still a "work-in-progress" and I may potentially update it later on Reddit with more information or detail if I have time at some point in the future.
If you have any opinions, thoughts, or additional information, please share it. Positive. Negative. Neutral. All information is helpful and informative to the community. (I thought the feedback received from my first DD posted to this sub was quite helpful and I look forward to what you have to say.)
Thank you to u/BuyLowSellNever for turning the sub back on; allowing us to share and discuss ideas with the broader community in a thoughtful and respectful manner. Best wishes. - LA

Funko (FNKO)
Share Price (1/28/21) : $11.97
Share Price (09/16/19) : $27.86
Short Interest (1/26/21) : 14%
Next Earnings Release: March 2021
Funko Inc. is an American company that manufactures licensed pop culture collectibles, best known for its licensed vinyl figurines and bobbleheads. They have over 1,000 licenses across music, video games, film, TV, sports and many other pop culture properties. Some of their most popular licensed brands include Marvel, Disney, Star Wars, Pokemon, Fortnite, NBA, NFL, MLB, DC Comics, and a variety of anime properties.
Several points below support the belief that Funko’s revenue grew during the 2020 holiday season and could continue well into 2021:
· Increasing search traffic for Funko products
· Direct sales growth is driving increased revenue and profitability
· Parents are buying more gifts for their kids due to COVID
· People have more disposable income from staying at home and not going out
· Expansion of new products and licensees continuing through 2021
· Collectible investments like Funko POP! figures are exploding in value and popularity
· Recent analyst commentary, valuation, and financials are positive
FUNKO’S SEARCH TRAFFIC REACHES AN ALL-TIME HIGH IN Q4 2020
“Funko” google trends search traffic was up 20-30% in Q4 2020 (vs. Q4 2019)
Searches for “Funko” were up 2x in December vs the beginning of November 2020
After falling in December, “Funko” searches are trending back up to all-time-high levels
FUNKO’S DIRECT SALES INITIATIVES DRIVING HIGHER REVENUE & MARGIN
Funko Direct Sales (B2C) grew significantly in Q3 and likely to continue into Q4
· B2C business as a percentage of sales increased to 8% in Q3 2020 from 4% during the prior year.
· Funko’s e-commerce site grew over 150% vs. the prior year in Q3 2020
· The number of SKU’s on Funko’s e-commerce site rose tenfold since June 2020
“We went from only 200 of our own products [on our website] as late as June this year, to now well over 2,000 products available on our website.” – Funko CEO, Brian Mariotti
Funko’s first ever Selena Pop! sold out online in just 40 minutes.
Funko’s Q3 2020 Gross Profit % and Operating Margin % were near all-time-highs for the company
· Funko’s Q3 Gross Profit Percentage of 38.6% was its second highest ever (behind only Q1 2020)
· Funko’s Q3 Operating Profit Percentage of 10.8% was its second highest ever (behind only Q4 2018)
· As Funko continues to grow it’s B2C e-commerce sales in Q4 and beyond, it is possible that gross profit and operating profit percentages could rise as well
Retail customers were able to shift their Brick & Mortar inventory to their e-commerce channels to Funko unit sales
· Funko resellers who didn’t sell online were severely impacted by Brick & Mortar closures during COVID stay-at-home orders. As 2020 progressed, some of these retailers were able to create online stores (e.g.- Shopify, Amazon, eBay, etc.) through which they could sell their Funko inventory.
· Larger retailers that already had an omni-channel presence were able to shift their sales inventory from their Brick & Mortar stores to online fulfilment.
Funko has also created a mini-Pop! factory at its headquarters where customers can make their own custom Funko at a price of $25 each
· According to Funko, you can customize your Pop! using thousands of combinations. It’s “Think Build-A-Bear meets Funko Pop!” according to CEO Brian Mariotti.
· With a $25 price point, the margins are likely higher than the average Pop! figure that retails for between $10 to $15
PARENTS BUYING MORE GIFTS FOR THEIR KIDS DUE TO COVID
Parents likely splurged on their kids out of guilt of having shelter at home because of restrictions and to keep them occupied while they had to work at home.
· “Faced with rising transmission of the virus, state restrictions on retailers and heightened political and economic uncertainty, consumers chose to spend on gifts that lifted the spirits of their families and friends and provided a sense of normalcy given the challenging year. We believe President-elect Biden’s stimulus proposal, with direct payments to families and individuals, and further aid for small businesses and tools to keep businesses open, will keep the economy growing.” NRF President Matthew Shay
· “2020 was an unprecedented year for the U.S. toy industry. The growth we’ve seen in the toy industry speaks to the fact that parents are willing to put their children’s happiness above all else. The industry’s resiliency is very much underpinned by the reality that, in times of hardship, families look to toys to help keep their children engaged, active, and delighted. Put simply, toys are a big part of the happiness equation.” Juli Lennett - VP, U.S. Toys at NPD
Toy sales were strong in 2020 as US retail sales of toys was up 16% vs 2019; driven by pandemic spending
· According to NPD, “Much of the growth in 2020 was directly correlated to the COVID-19 pandemic and the changing consumer behavior associated with widespread lockdowns and school closures, the disposable income diverted from other types of entertainment to toys, as well as the onset of federal stimulus checks.”
Consumer spending on toys increased measurably due to lockdowns; with strong performance continuing through the holidays
· Per NPD, “While toy sales through mid-March 2020 were flat vs. 2019, widespread lockdown measures led to an abrupt increase in sales. This was further amplified by the distribution of stimulus checks beginning in April, resulting in the strongest month of growth for the year in May (+38%). Toy industry growth peaked again in October with an increase of 33% when the holiday season kicked off with Amazon Prime Day along with other retailer deals the same week.”
Key retail sources reporting significant sales growth during Q4 2020 suggest Funko sales performance was strong
· Target Q4 sales were fantastic showing signs of retail strength with a consumer that overlaps well with the Funko
> Overall comparable sales were up 17.2%
> Comparable digital sales were up over 100%
> Store-originated comparable sales were up 4.2%
> Store traffic was up 4.3%
> Average ticket size was up 12.3%
· GameStop Q4 sales were solid; showing additional potential for Funko sales
> Same store sales were up 4.8% in Q4 2020
> Online sales increased 309% in Q4 2020
· According to the NRF, 2020 Holiday Retail Sales were up 8.3% compared to the prior year despite the pandemic
> A surge in online shopping drove the increase (rising 32% vs. 2019)
> The increase of 8.3% was over double the average increase of 3.5% that the industry had seen over the last five years.
MORE DISPOSABLE INCOME TO SPEND AT HOME BY NOT GOING OUT
The National Retail Federation (NRF) says that strong retail performance has been driven by consumers with stimulus checks and extra savings from not going out or traveling
· “There was a massive boost to consumer wallets this season. Consumers were able to splurge on holiday gifts because of increased money in their bank accounts from the stimulus payments they received earlier in the year and the money they saved by not traveling, dining out, or attending entertainment events” – NRF Chief Economist Jack Kleinhenz.
Spending on “experiences” fell significantly in 2020
· The US Travel Association forecasts that spending on travel fell $500 billion in 2020 from $1.1 trillion in 2019
> The industry has lost about 40% of its direct travel jobs (about 3.5 million jobs) in 2020; driven by a reduction in business travel
> Foreign visitors to the US fell about 75% in 2020; driving a $119 billion reduction in travel spending
· Concert spending is down dramatically
> Live Nation reported a 98% decline in concert revenue in Q2 2020 and a 95% decline in concert revenue in Q3 2020
> About 5.2 million tickets were refunded in Q3 2020 and 23.3 million tickets had been refunded so far in 2020 (as of the end of Q3)
· Movie theater attendance is down substantially
> AMC theaters saw a 97% decline in attendance and a 91% decline in revenue in Q3 2020
> Cinemark saw a 96% decline in revenue
> Marcus Corporation (which also owns hotels and restaurants) saw a 84% decline in revenue
> Studio Movie Grill filed for bankruptcy
· Other anecdotal information points to more stay-at-home activity decreasing recreational spending
> Chuck E Cheese’s declared bankruptcy
> Dave & Busters is considering bankruptcy and plans layoffs of +1,000
> CiCi’s Pizza declares bankruptcy
> Starbucks saw fewer customers, reduced store hours, increased store closures, and a 5% decline in revenues in Q4 2020. This has led them to plan a shift to more “to-go” formats
> Many Las Vegas Hotels and Casinos have decided to close “part-time” during the week due to lower attendance and travel.
These include Encore, Rio, Linq, Planet Hollywood, Mandalay Bay, Park MGM, and Mirage
The majority of food buffets at the major hotels and casinos have been shuttered for the time being
Stimulus checks and other government programs to support consumer spending provide tailwinds for retail activity
· The US government authorized more than $10,000 per person in stimulus spending in 2020 over the course of five relief bills totaling $3.5 trillion
· More stimulus spending is expected; including a potential $1.9 trillion package that could include an additional $1,400 in stimulus checks
MORE SKUS / LICENSES ARE GROWING AND EXPECTED TO CONINUE STRONG
Active properties continue to rise and are expected to grow well into the future
· The number of active properties in Q3 2020 grew 15% over 2019
· Active properties grew from 644 in Q2 to 715 in Q3 2020
· The potential universe for Funko Pops! is limitless as new films, tv shows, musicians, anime characters, sports stars, and other media properties are created every year.
Some of the hot properties for this year and beyond
· Star Wars: Baby Yoda, Mandalorian, Rey, Valentine’s Day, etc.
· Marvel: WandaVision, Deadpool, Lucha Libre, Spiderman, Venom
· Anime: Dragon Ball Z, Naruto, Bakugan, My Hero Academia
· Films: Harry Potter, The Goonies, The Mummy, Fast & Furious
· TV: The Office, Umbrella Academy, The Queen’s Gambit, The Simpsons
· Sports: NFL, NBA, MLB, WWE
· Others: Disney, Pokemon, etc.
COLLECTIBLE INVESTMENTS ARE GROWING IN VALUE & POPULARITY
· Funko: The average Pops! Figure has a retail price from between $10 and $15 which allows most people an affordable entry point into collecting. Over time some Pops! Figures increase substantially in price; from $50 to $100 to even several thousand dollars. While some collectors buy Pops! as primarily an investment, many more buy them as a way to show their fandom. Whether they are avid Star Wars, Harry Potter, Pokemon, Sports, or Anime fans; collectors build large collections and show them off to friends.
· Sports Cards: To those paying attention, sports cards have been on a massive run with some cards worth more than your parent’s house and your sister’s car. Since the pandemic started, the demand for sports collectibles from basketball to football to soccer (and many others) has skyrocketed. Countless videos of box-breaks and pack openings have become the norm on social media. Some of these boxes are being purchased for tens of thousands with “hits” ranging from several hundred to hundreds of thousands.
· Collector’s Universe: This company that grades sports cards and other collectibles has tripled in value since June 2020. The number of sports collectors grading cards has exploded as demand rises. The popularity of grading sports cards is expected to maintain as prices continue to rise and the hobby becomes more mainstream.
ANALYST COMMENTARY AND FINANCIALS ARE A POSTIVE FOR THE STOCK
Piper Sandler: Upgraded Funko from “Neutral” to “Overweight” (raising their price target from $6 to $12).
· Analyst Erin Murphy sees evidence of “subsequent revenue pillars” with their recent launch of Snapsies at 800 Target stores; along with an expansion into board games and its digital efforts, which include a newly launched website in six European countries.
Valuation Comparison: Market Cap / Revenue (TTM)
· Funko: MC - $604 million / Rev - $640 million (0.9x sales)
· Mattel: MC - $6.27 billion / Rev - $4.43 billion (1.4x sales)
· Hasbro: MC - $13.13 billion / Rev - $5.17 billion (2.5x sales)
Key Financial Trends For Funko
· Q3 2020 EPS (Adjusted) = $0.31
> Third highest ever (only Q4 2018 & Q3 2019 were higher)
· Q3 2020 Revenue = $191 million
> Fourth highest ever (only Q4 2018, Q3 2019, and Q4 2019 were higher)
· Q3 2020 Revenue increase vs prior quarter of 94%
> Q1 and Q2 2020 saw significant declines due to COVID
> Q3 2020 only down 14% vs Q3 2019 despite Q2 2020 being down 49%
> Q3 2020 strength driven by Funko adapting quickly to online in the US market. (Q4 2020 revenue growth could be aided substantially by Funko’s development of their e-commerce shop in Europe.)
· Q3 2020 SG&A was reduced 20% vs. the prior year as Funko rationalizes costs and adjusts to focus more on D2C e-commerce
TL;DR
After a tough summer, Funko sales have rocketed back in Q3 to near where they were pre-pandemic; setting up a potentially historic earnings for Q4 2020. Google search activity suggests that Funko is as popular as ever and is set up well for a strong year in 2021. People are spending less on “going out;” instead buying things to use at home and presents for their kids. As time passes, Funko’s status as a popular collectible only continues to gain momentum.
Their direct sales initiative allows Funko to capture additional margin by sidestepping traditional brick and mortar retail to reach their customers. Investments in collectible products like Pops! and sports cards continue to increase in popularity and price. And the company continues to release even more products beyond Pops!; including games and apparel. While some Wall Street Analysts have already begun to take notice, a strong Q4 earnings announcement can drive even more attention to the stock.
Positions: Long Shares & Calls
Disclosure: I am long FNKO. This is not investment advice. I reserve the right to buy or sell FNKO without updating this thread. Do your own research and share (or not share) with the community in this thread. Thank you to the others on Reddit that shared this idea earlier.
Feedback: If you have any additional information, ideas, or critiques please make sure to comment. It is great to get the perspective of others when making an investment. Also that information can be incorporated into future posts and updates.

2/9/21 Update: Additional info posted here

DD - Funko Toys

2/9/21 Update: Additional info posted here

Funko is a good company with solid performance that is still trading at a reasonable price. Check out my DD below:

Funko (FNKO)
Share Price (1/28/21) : $11.97
Share Price (09/16/19) : $27.86
Short Interest (1/26/21) : 14%
Next Earnings Release: March 2021
Funko Inc. is an American company that manufactures licensed pop culture collectibles, best known for its licensed vinyl figurines and bobbleheads. They have over 1,000 licenses across music, video games, film, TV, sports and many other pop culture properties. Some of their most popular licensed brands include Marvel, Disney, Star Wars, Pokemon, Fortnite, NBA, NFL, MLB, DC Comics, and a variety of anime properties.
Several points below support the belief that Funko’s revenue grew during the 2020 holiday season and could continue well into 2021:
· Increasing search traffic for Funko products
· Direct sales growth is driving increased revenue and profitability
· Parents are buying more gifts for their kids due to COVID
· People have more disposable income from staying at home and not going out
· Expansion of new products and licensees continuing through 2021
· Collectible investments like Funko POP! figures are exploding in value and popularity
· Recent analyst commentary, valuation, and financials are positive
FUNKO’S SEARCH TRAFFIC REACHES AN ALL-TIME HIGH IN Q4 2020
“Funko” google trends search traffic was up 20-30% in Q4 2020 (vs. Q4 2019)
Searches for “Funko” were up 2x in December vs the beginning of November 2020
After falling in December, “Funko” searches are trending back up to all-time-high levels
FUNKO’S DIRECT SALES INITIATIVES DRIVING HIGHER REVENUE & MARGIN
Funko Direct Sales (B2C) grew significantly in Q3 and likely to continue into Q4
· B2C business as a percentage of sales increased to 8% in Q3 2020 from 4% during the prior year.
· Funko’s e-commerce site grew over 150% vs. the prior year in Q3 2020
· The number of SKU’s on Funko’s e-commerce site rose tenfold since June 2020
“We went from only 200 of our own products [on our website] as late as June this year, to now well over 2,000 products available on our website.” – Funko CEO, Brian Mariotti
Funko’s first ever Selena Pop! sold out online in just 40 minutes.
Funko’s Q3 2020 Gross Profit % and Operating Margin % were near all-time-highs for the company
· Funko’s Q3 Gross Profit Percentage of 38.6% was its second highest ever (behind only Q1 2020)
· Funko’s Q3 Operating Profit Percentage of 10.8% was its second highest ever (behind only Q4 2018)
· As Funko continues to grow it’s B2C e-commerce sales in Q4 and beyond, it is possible that gross profit and operating profit percentages could rise as well
Retail customers were able to shift their Brick & Mortar inventory to their e-commerce channels to Funko unit sales
· Funko resellers who didn’t sell online were severely impacted by Brick & Mortar closures during COVID stay-at-home orders. As 2020 progressed, some of these retailers were able to create online stores (e.g.- Shopify, Amazon, eBay, etc.) through which they could sell their Funko inventory.
· Larger retailers that already had an omni-channel presence were able to shift their sales inventory from their Brick & Mortar stores to online fulfilment.
Funko has also created a mini-Pop! factory at its headquarters where customers can make their own custom Funko at a price of $25 each
· According to Funko, you can customize your Pop! using thousands of combinations. It’s “Think Build-A-Bear meets Funko Pop!” according to CEO Brian Mariotti.
· With a $25 price point, the margins are likely higher than the average Pop! figure that retails for between $10 to $15
PARENTS BUYING MORE GIFTS FOR THEIR KIDS DUE TO COVID
Parents likely splurged on their kids out of guilt of having shelter at home because of restrictions and to keep them occupied while they had to work at home.
· “Faced with rising transmission of the virus, state restrictions on retailers and heightened political and economic uncertainty, consumers chose to spend on gifts that lifted the spirits of their families and friends and provided a sense of normalcy given the challenging year. We believe President-elect Biden’s stimulus proposal, with direct payments to families and individuals, and further aid for small businesses and tools to keep businesses open, will keep the economy growing.” NRF President Matthew Shay
· “2020 was an unprecedented year for the U.S. toy industry. The growth we’ve seen in the toy industry speaks to the fact that parents are willing to put their children’s happiness above all else. The industry’s resiliency is very much underpinned by the reality that, in times of hardship, families look to toys to help keep their children engaged, active, and delighted. Put simply, toys are a big part of the happiness equation.” Juli Lennett - VP, U.S. Toys at NPD
Toy sales were strong in 2020 as US retail sales of toys was up 16% vs 2019; driven by pandemic spending
· According to NPD, “Much of the growth in 2020 was directly correlated to the COVID-19 pandemic and the changing consumer behavior associated with widespread lockdowns and school closures, the disposable income diverted from other types of entertainment to toys, as well as the onset of federal stimulus checks.”
Consumer spending on toys increased measurably due to lockdowns; with strong performance continuing through the holidays
· Per NPD, “While toy sales through mid-March 2020 were flat vs. 2019, widespread lockdown measures led to an abrupt increase in sales. This was further amplified by the distribution of stimulus checks beginning in April, resulting in the strongest month of growth for the year in May (+38%). Toy industry growth peaked again in October with an increase of 33% when the holiday season kicked off with Amazon Prime Day along with other retailer deals the same week.”
Key retail sources reporting significant sales growth during Q4 2020 suggest Funko sales performance was strong
· Target Q4 sales were fantastic showing signs of retail strength with a consumer that overlaps well with the Funko
> Overall comparable sales were up 17.2%
> Comparable digital sales were up over 100%
> Store-originated comparable sales were up 4.2%
> Store traffic was up 4.3%
> Average ticket size was up 12.3%
· GameStop Q4 sales were solid; showing additional potential for Funko sales
> Same store sales were up 4.8% in Q4 2020
> Online sales increased 309% in Q4 2020
· According to the NRF, 2020 Holiday Retail Sales were up 8.3% compared to the prior year despite the pandemic
> A surge in online shopping drove the increase (rising 32% vs. 2019)
> The increase of 8.3% was over double the average increase of 3.5% that the industry had seen over the last five years.
MORE DISPOSABLE INCOME TO SPEND AT HOME BY NOT GOING OUT
The National Retail Federation (NRF) says that strong retail performance has been driven by consumers with stimulus checks and extra savings from not going out or traveling
· “There was a massive boost to consumer wallets this season. Consumers were able to splurge on holiday gifts because of increased money in their bank accounts from the stimulus payments they received earlier in the year and the money they saved by not traveling, dining out, or attending entertainment events” – NRF Chief Economist Jack Kleinhenz.
Spending on “experiences” fell significantly in 2020
· The US Travel Association forecasts that spending on travel fell $500 billion in 2020 from $1.1 trillion in 2019
> The industry has lost about 40% of its direct travel jobs (about 3.5 million jobs) in 2020; driven by a reduction in business travel
> Foreign visitors to the US fell about 75% in 2020; driving a $119 billion reduction in travel spending
· Concert spending is down dramatically
> Live Nation reported a 98% decline in concert revenue in Q2 2020 and a 95% decline in concert revenue in Q3 2020
> About 5.2 million tickets were refunded in Q3 2020 and 23.3 million tickets had been refunded so far in 2020 (as of the end of Q3)
· Movie theater attendance is down substantially
> AMC theaters saw a 97% decline in attendance and a 91% decline in revenue in Q3 2020
> Cinemark saw a 96% decline in revenue
> Marcus Corporation (which also owns hotels and restaurants) saw a 84% decline in revenue
> Studio Movie Grill filed for bankruptcy
· Other anecdotal information points to more stay-at-home activity decreasing recreational spending
> Chuck E Cheese’s declared bankruptcy
> Dave & Busters is considering bankruptcy and plans layoffs of +1,000
> CiCi’s Pizza declares bankruptcy
> Starbucks saw fewer customers, reduced store hours, increased store closures, and a 5% decline in revenues in Q4 2020. This has led them to plan a shift to more “to-go” formats
> Many Las Vegas Hotels and Casinos have decided to close “part-time” during the week due to lower attendance and travel.
These include Encore, Rio, Linq, Planet Hollywood, Mandalay Bay, Park MGM, and Mirage
The majority of food buffets at the major hotels and casinos have been shuttered for the time being
Stimulus checks and other government programs to support consumer spending provide tailwinds for retail activity
· The US government authorized more than $10,000 per person in stimulus spending in 2020 over the course of five relief bills totaling $3.5 trillion
· More stimulus spending is expected; including a potential $1.9 trillion package that could include an additional $1,400 in stimulus checks
MORE SKUS / LICENSES ARE GROWING AND EXPECTED TO CONINUE STRONG
Active properties continue to rise and are expected to grow well into the future
· The number of active properties in Q3 2020 grew 15% over 2019
· Active properties grew from 644 in Q2 to 715 in Q3 2020
· The potential universe for Funko Pops! is limitless as new films, tv shows, musicians, anime characters, sports stars, and other media properties are created every year.
Some of the hot properties for this year and beyond
· Star Wars: Baby Yoda, Mandalorian, Rey, Valentine’s Day, etc.
· Marvel: WandaVision, Deadpool, Lucha Libre, Spiderman, Venom
· Anime: Dragon Ball Z, Naruto, Bakugan, My Hero Academia
· Films: Harry Potter, The Goonies, The Mummy, Fast & Furious
· TV: The Office, Umbrella Academy, The Queen’s Gambit, The Simpsons
· Sports: NFL, NBA, MLB, WWE
· Others: Disney, Pokemon, etc.
Retail exclusives can grow the potential universe of licenses and increase retailer buy-in
· For example: A retailer like GameStop could lobby Funko to make a GameStop exclusive of the WallStreetBets Kid like this person suggested here. (The exclusive Pop! would be made into a limited edition and sold only to GameStop to sell at their stores)
COLLECTIBLE INVESTMENTS ARE GROWING IN VALUE & POPULARITY
· Funko: The average Pops! Figure has a retail price from between $10 and $15 which allows most people an affordable entry point into collecting. Over time some Pops! Figures increase substantially in price; from $50 to $100 to even several thousand dollars. While some collectors buy Pops! as primarily an investment, many more buy them as a way to show their fandom. Whether they are avid Star Wars, Harry Potter, Pokemon, Sports, or Anime fans; collectors build large collections and show them off to friends.
· Sports Cards: To those paying attention, sports cards have been on a massive run with some cards worth more than your parent’s house and your sister’s car. Since the pandemic started, the demand for sports collectibles from basketball to football to soccer (and many others) has skyrocketed. Countless videos of box-breaks and pack openings have become the norm on social media. Some of these boxes are being purchased for tens of thousands with “hits” ranging from several hundred to hundreds of thousands.
· Collector’s Universe: This company that grades sports cards and other collectibles has tripled in value since June 2020. The number of sports collectors grading cards has exploded as demand rises. The popularity of grading sports cards is expected to maintain as prices continue to rise and the hobby becomes more mainstream.
ANALYST COMMENTARY AND FINANCIALS ARE A POSTIVE FOR THE STOCK
Piper Sandler: Upgraded Funko from “Neutral” to “Overweight” (raising their price target from $6 to $12).
· Analyst Erin Murphy sees evidence of “subsequent revenue pillars” with their recent launch of Snapsies at 800 Target stores; along with an expansion into board games and its digital efforts, which include a newly launched website in six European countries.
Valuation Comparison: Market Cap / Revenue (TTM)
· Funko: MC - $604 million / Rev - $640 million (0.9x sales)
· Mattel: MC - $6.27 billion / Rev - $4.43 billion (1.4x sales)
· Hasbro: MC - $13.13 billion / Rev - $5.17 billion (2.5x sales)
Key Financial Trends For Funko
· Q3 2020 EPS (Adjusted) = $0.31
> Third highest ever (only Q4 2018 & Q3 2019 were higher)
· Q3 2020 Revenue = $191 million
> Fourth highest ever (only Q4 2018, Q3 2019, and Q4 2019 were higher)
· Q3 2020 Revenue increase vs prior quarter of 94%
> Q1 and Q2 2020 saw significant declines due to COVID
> Q3 2020 only down 14% vs Q3 2019 despite Q2 2020 being down 49%
> Q3 2020 strength driven by Funko adapting quickly to online in the US market. (Q4 2020 revenue growth could be aided substantially by Funko’s development of their e-commerce shop in Europe.)
· Q3 2020 SG&A was reduced 20% vs. the prior year as Funko rationalizes costs and adjusts to focus more on D2C e-commerce
TL;DR
After a tough summer, Funko sales have rocketed back in Q3 to near where they were pre-pandemic; setting up a potentially historic earnings for Q4 2020. Google search activity suggests that Funko is as popular as ever and is set up well for a strong year in 2021. People are spending less on “going out;” instead buying things to use at home and presents for their kids. As time passes, Funko’s status as a popular collectible only continues to gain momentum.
Their direct sales initiative allows Funko to capture additional margin by sidestepping traditional brick and mortar retail to reach their customers. Investments in collectible products like Pops! and sports cards continue to increase in popularity and price. And the company continues to release even more products beyond Pops!; including games and apparel. While some Wall Street Analysts have already begun to take notice, a strong Q4 earnings announcement can drive even more attention to the stock.
Positions: Long Shares & Calls
Disclosure: I am long FNKO. This is not investment advice. I reserve the right to buy or sell FNKO without updating this thread. Do your own research and share (or not share) with the community in this thread. Thank you to the others on Reddit that shared this idea earlier.
Feedback: If you have any additional information, ideas, or critiques please make sure to comment. It is great to get the perspective of others when making an investment. Also that information can be incorporated into future posts and updates.
Previous DD: Herman Miller

DD - Funko Toys (+$15 per share / +$600m Market Cap)

2/9/21 Update: Additional info posted here

Funko is a good company with solid performance that is still trading at a reasonable price.
Check out my DD below:
Funko (FNKO)
Share Price (02/01/21) : $12.90
Share Price (09/16/19) : $27.86
Short Interest (1/26/21) : 14%
Next Earnings Release: March 2021
Funko Inc. is an American company that manufactures licensed pop culture collectibles, best known for its licensed vinyl figurines and bobbleheads. They have over 1,000 licenses across music, video games, film, TV, sports and many other pop culture properties. Some of their most popular licensed brands include Marvel, Disney, Star Wars, Pokemon, Fortnite, NBA, NFL, MLB, DC Comics, and a variety of anime properties.
Several points below support the belief that Funko’s revenue grew during the 2020 holiday season and could continue well into 2021:
· Increasing search traffic for Funko products
· Direct sales growth is driving increased revenue and profitability
· Parents are buying more gifts for their kids due to COVID
· People have more disposable income from staying at home and not going out
· Expansion of new products and licensees continuing through 2021
· Collectible investments like Funko POP! figures are exploding in value and popularity
· Recent analyst commentary, valuation, and financials are positive
FUNKO’S SEARCH TRAFFIC REACHES AN ALL-TIME HIGH IN Q4 2020
“Funko” google trends search traffic was up 20-30% in Q4 2020 (vs. Q4 2019)
Searches for “Funko” were up 2x in December vs the beginning of November 2020
After falling in December, “Funko” searches are trending back up to all-time-high levels
FUNKO’S DIRECT SALES INITIATIVES DRIVING HIGHER REVENUE & MARGIN
Funko Direct Sales (B2C) grew significantly in Q3 and likely to continue into Q4
· B2C business as a percentage of sales increased to 8% in Q3 2020 from 4% during the prior year.
· Funko’s e-commerce site grew over 150% vs. the prior year in Q3 2020
· The number of SKU’s on Funko’s e-commerce site rose tenfold since June 2020
“We went from only 200 of our own products [on our website] as late as June this year, to now well over 2,000 products available on our website.” – Funko CEO, Brian Mariotti
Funko’s first ever Selena Pop! sold out online in just 40 minutes.
Funko’s Q3 2020 Gross Profit % and Operating Margin % were near all-time-highs for the company
· Funko’s Q3 Gross Profit Percentage of 38.6% was its second highest ever (behind only Q1 2020)
· Funko’s Q3 Operating Profit Percentage of 10.8% was its second highest ever (behind only Q4 2018)
· As Funko continues to grow it’s B2C e-commerce sales in Q4 and beyond, it is possible that gross profit and operating profit percentages could rise as well
Retail customers were able to shift their Brick & Mortar inventory to their e-commerce channels to Funko unit sales
· Funko resellers who didn’t sell online were severely impacted by Brick & Mortar closures during COVID stay-at-home orders. As 2020 progressed, some of these retailers were able to create online stores (e.g.- Shopify, Amazon, eBay, etc.) through which they could sell their Funko inventory.
· Larger retailers that already had an omni-channel presence were able to shift their sales inventory from their Brick & Mortar stores to online fulfilment.
Funko has also created a mini-Pop! factory at its headquarters where customers can make their own custom Funko at a price of $25 each
· According to Funko, you can customize your Pop! using thousands of combinations. It’s “Think Build-A-Bear meets Funko Pop!” according to CEO Brian Mariotti.
· With a $25 price point, the margins are likely higher than the average Pop! figure that retails for between $10 to $15
PARENTS BUYING MORE GIFTS FOR THEIR KIDS DUE TO COVID
Parents likely splurged on their kids out of guilt of having shelter at home because of restrictions and to keep them occupied while they had to work at home.
· “Faced with rising transmission of the virus, state restrictions on retailers and heightened political and economic uncertainty, consumers chose to spend on gifts that lifted the spirits of their families and friends and provided a sense of normalcy given the challenging year. We believe President-elect Biden’s stimulus proposal, with direct payments to families and individuals, and further aid for small businesses and tools to keep businesses open, will keep the economy growing.” NRF President Matthew Shay
· “2020 was an unprecedented year for the U.S. toy industry. The growth we’ve seen in the toy industry speaks to the fact that parents are willing to put their children’s happiness above all else. The industry’s resiliency is very much underpinned by the reality that, in times of hardship, families look to toys to help keep their children engaged, active, and delighted. Put simply, toys are a big part of the happiness equation.” Juli Lennett - VP, U.S. Toys at NPD
Toy sales were strong in 2020 as US retail sales of toys was up 16% vs 2019; driven by pandemic spending
· According to NPD, “Much of the growth in 2020 was directly correlated to the COVID-19 pandemic and the changing consumer behavior associated with widespread lockdowns and school closures, the disposable income diverted from other types of entertainment to toys, as well as the onset of federal stimulus checks.”
Consumer spending on toys increased measurably due to lockdowns; with strong performance continuing through the holidays
· Per NPD, “While toy sales through mid-March 2020 were flat vs. 2019, widespread lockdown measures led to an abrupt increase in sales. This was further amplified by the distribution of stimulus checks beginning in April, resulting in the strongest month of growth for the year in May (+38%). Toy industry growth peaked again in October with an increase of 33% when the holiday season kicked off with Amazon Prime Day along with other retailer deals the same week.”
Key retail sources reporting significant sales growth during Q4 2020 suggest Funko sales performance was strong
· Target Q4 sales were fantastic showing signs of retail strength with a consumer that overlaps well with the Funko
> Overall comparable sales were up 17.2%
> Comparable digital sales were up over 100%
> Store-originated comparable sales were up 4.2%
> Store traffic was up 4.3%
> Average ticket size was up 12.3%
· GameStop Q4 sales were solid; showing additional potential for Funko sales
> Same store sales were up 4.8% in Q4 2020
> Online sales increased 309% in Q4 2020
· According to the NRF, 2020 Holiday Retail Sales were up 8.3% compared to the prior year despite the pandemic
> A surge in online shopping drove the increase (rising 32% vs. 2019)
> The increase of 8.3% was over double the average increase of 3.5% that the industry had seen over the last five years.
MORE DISPOSABLE INCOME TO SPEND AT HOME BY NOT GOING OUT
The National Retail Federation (NRF) says that strong retail performance has been driven by consumers with stimulus checks and extra savings from not going out or traveling
· “There was a massive boost to consumer wallets this season. Consumers were able to splurge on holiday gifts because of increased money in their bank accounts from the stimulus payments they received earlier in the year and the money they saved by not traveling, dining out, or attending entertainment events” – NRF Chief Economist Jack Kleinhenz.
Spending on “experiences” fell significantly in 2020
· The US Travel Association forecasts that spending on travel fell $500 billion in 2020 from $1.1 trillion in 2019
> The industry has lost about 40% of its direct travel jobs (about 3.5 million jobs) in 2020; driven by a reduction in business travel
> Foreign visitors to the US fell about 75% in 2020; driving a $119 billion reduction in travel spending
· Concert spending is down dramatically
> Live Nation reported a 98% decline in concert revenue in Q2 2020 and a 95% decline in concert revenue in Q3 2020
> About 5.2 million tickets were refunded in Q3 2020 and 23.3 million tickets had been refunded so far in 2020 (as of the end of Q3)
· Movie theater attendance is down substantially
> AMC theaters saw a 97% decline in attendance and a 91% decline in revenue in Q3 2020
> Cinemark saw a 96% decline in revenue
> Marcus Corporation (which also owns hotels and restaurants) saw a 84% decline in revenue
> Studio Movie Grill filed for bankruptcy
· Other anecdotal information points to more stay-at-home activity decreasing recreational spending
> Chuck E Cheese’s declared bankruptcy
> Dave & Busters is considering bankruptcy and plans layoffs of +1,000
> CiCi’s Pizza declares bankruptcy
> Starbucks saw fewer customers, reduced store hours, increased store closures, and a 5% decline in revenues in Q4 2020. This has led them to plan a shift to more “to-go” formats
> Many Las Vegas Hotels and Casinos have decided to close “part-time” during the week due to lower attendance and travel.
These include Encore, Rio, Linq, Planet Hollywood, Mandalay Bay, Park MGM, and Mirage
The majority of food buffets at the major hotels and casinos have been shuttered for the time being
Stimulus checks and other government programs to support consumer spending provide tailwinds for retail activity
· The US government authorized more than $10,000 per person in stimulus spending in 2020 over the course of five relief bills totaling $3.5 trillion
· More stimulus spending is expected; including a potential $1.9 trillion package that could include an additional $1,400 in stimulus checks
MORE SKUS / LICENSES ARE GROWING AND EXPECTED TO CONINUE STRONG
Active properties continue to rise and are expected to grow well into the future
· The number of active properties in Q3 2020 grew 15% over 2019
· Active properties grew from 644 in Q2 to 715 in Q3 2020
· The potential universe for Funko Pops! is limitless as new films, tv shows, musicians, anime characters, sports stars, and other media properties are created every year.
Some of the hot properties for this year and beyond
· Star Wars: Baby Yoda, Mandalorian, Rey, Valentine’s Day, etc.
· Marvel: WandaVision, Deadpool, Lucha Libre, Spiderman, Venom
· Anime: Dragon Ball Z, Naruto, Bakugan, My Hero Academia
· Films: Harry Potter, The Goonies, The Mummy, Fast & Furious
· TV: The Office, Umbrella Academy, The Queen’s Gambit, The Simpsons
· Sports: NFL, NBA, MLB, WWE
· Others: Disney, Pokemon, etc.
Retail exclusives can grow the potential universe of licenses and increase retailer buy-in
· For example: A retailer like GameStop could lobby Funko to make a GameStop exclusive of the WallStreetBets Kid like this person suggested here. (The exclusive Pop! would be made into a limited edition and sold only to GameStop to sell at their stores)
COLLECTIBLE INVESTMENTS ARE GROWING IN VALUE & POPULARITY
· Funko: The average Pops! Figure has a retail price from between $10 and $15 which allows most people an affordable entry point into collecting. Over time some Pops! Figures increase substantially in price; from $50 to $100 to even several thousand dollars. While some collectors buy Pops! as primarily an investment, many more buy them as a way to show their fandom. Whether they are avid Star Wars, Harry Potter, Pokemon, Sports, or Anime fans; collectors build large collections and show them off to friends.
· Sports Cards: To those paying attention, sports cards have been on a massive run with some cards worth more than your parent’s house and your sister’s car. Since the pandemic started, the demand for sports collectibles from basketball to football to soccer (and many others) has skyrocketed. Countless videos of box-breaks and pack openings have become the norm on social media. Some of these boxes are being purchased for tens of thousands with “hits” ranging from several hundred to hundreds of thousands.
· Collector’s Universe: This company that grades sports cards and other collectibles has tripled in value since June 2020. The number of sports collectors grading cards has exploded as demand rises. The popularity of grading sports cards is expected to maintain as prices continue to rise and the hobby becomes more mainstream.
ANALYST COMMENTARY AND FINANCIALS ARE A POSTIVE FOR THE STOCK
Piper Sandler: Upgraded Funko from “Neutral” to “Overweight” (raising their price target from $6 to $12).
· Analyst Erin Murphy sees evidence of “subsequent revenue pillars” with their recent launch of Snapsies at 800 Target stores; along with an expansion into board games and its digital efforts, which include a newly launched website in six European countries.
Valuation Comparison: Market Cap / Revenue (TTM)
· Funko: MC - $604 million / Rev - $640 million (0.9x sales)
· Mattel: MC - $6.27 billion / Rev - $4.43 billion (1.4x sales)
· Hasbro: MC - $13.13 billion / Rev - $5.17 billion (2.5x sales)
Key Financial Trends For Funko
· Q3 2020 EPS (Adjusted) = $0.31
> Third highest ever (only Q4 2018 & Q3 2019 were higher)
· Q3 2020 Revenue = $191 million
> Fourth highest ever (only Q4 2018, Q3 2019, and Q4 2019 were higher)
· Q3 2020 Revenue increase vs prior quarter of 94%
> Q1 and Q2 2020 saw significant declines due to COVID
> Q3 2020 only down 14% vs Q3 2019 despite Q2 2020 being down 49%
> Q3 2020 strength driven by Funko adapting quickly to online in the US market. (Q4 2020 revenue growth could be aided substantially by Funko’s development of their e-commerce shop in Europe.)
· Q3 2020 SG&A was reduced 20% vs. the prior year as Funko rationalizes costs and adjusts to focus more on D2C e-commerce
TL;DR
After a tough summer, Funko sales have rocketed back in Q3 to near where they were pre-pandemic; setting up a potentially historic earnings for Q4 2020. Google search activity suggests that Funko is as popular as ever and is set up well for a strong year in 2021. People are spending less on “going out;” instead buying things to use at home and presents for their kids. As time passes, Funko’s status as a popular collectible only continues to gain momentum.
Their direct sales initiative allows Funko to capture additional margin by sidestepping traditional brick and mortar retail to reach their customers. Investments in collectible products like Pops! and sports cards continue to increase in popularity and price. And the company continues to release even more products beyond Pops!; including games and apparel. While some Wall Street Analysts have already begun to take notice, a strong Q4 earnings announcement can drive even more attention to the stock.
Positions: Long Shares & Calls
Disclosure: I am long FNKO. This is not investment advice. I reserve the right to buy or sell FNKO without updating this thread. Do your own research and share (or not share) with the community in this thread. Thank you to the others on Reddit that shared this idea earlier.
Feedback: If you have any additional information, ideas, or critiques please make sure to comment. It is great to get the perspective of others when making an investment. Also that information can be incorporated into future posts and updates.
Previous DD: Herman Miller

Funko (FNKO) - This Is The Way

2/9/21 Update: Additional info posted here

Hi everyone.
Funko is a great stock that I believe will do well this year. Internet search traffic for Funko has been increasing and is at all-time highs over the last couple of months. The company is selling more of their toys directly to customers through their e-commerce shop (which allows them to capture higher retail revenues than wholesale revenues). And demand for collectibles and toys continues to be strong.
Here is a DD I wrote on the company below. I would love to get your thoughts.

The timeshare presentations in Nevada are gettimg out of hand...

“...and walk away with a trip to beautiful Las Vegas Nevada! Enjoy a complimentary 5 day 4 night stay at any MGM casino resort all on us! No nonsense, no gimmicks. Just a bit of your precious time! Call today!”
Yes. A vacation extravaganza all on the arm. Courtesy of the Hibou Timeshare Corporation. All it cost was your time and cooperation for a timeshare presentation. Simple enough yes? I wish I would have realized how much better a couple of overtimes would have served me, than taking myself to that horrid building.
I was living in Phoenix AZ with my parents. Still half way bullshitting my final semester at college. I’ve got to be honest, I was checked out. It was summer..I was going to graduate and I had these final two classes in the bag. I could have failed my finals and still walked out with a C. Yes but that kind of luxury came at a price. My social life was the casualty in all of this. While I did have a tight knit of pals, my attendance to social gatherings were...well..less than punctual. I was usually doing work for one of my advanced classes. If not that, then I was pulling a shift at either of my jobs. Yeah..you could say I gave up the glamour of late night pizzas, puking in my friends car and hooking up with a random ASU frat sluts for a heavier wallet...except I was paying everything out of my own pocket. My gas, insurance, cell, college. I wasn't exactly hiding cash in the walls. My parents worked hard but..never did make a living to give me and my siblings an extravagant lifestyle. We were grateful though.
So when I heard that AD of how I could get a long needed vacation to party central Las Vegas, all for watching some BS timeshare I knew I wasn’t going to buy into, you bet your ass off I made that call. The phone only rang once before I got an answer,
“Thank you for calling the Hibou Timeshare Corporation, how can we help you?” a voice rang through the phone. The voice sounded shrill and sickly.
“Hi, I'm calling about the vacation in Vegas? Says that you need people for a presen..”
“Yeessss.” the voice interrupted “The timeshare presentation, well...we would be so honored to have you”
“Uhh..yeah...anyway I’d like to sign up? Is there a form online or do you take the information here?” I said..now feeling a bit tense.
“Well I'll tell you what...pack your things for the vacation. When we are finished presenting..we can send you on our way to Vegas. We just need..a bit of your time.”
That was that. He gave me the address, date and time of the meeting. The area was in a place called Amargosa Valley in Nevada. Luckily it was just about an hour away from Vegas. Before we parted ways on the phone, the operator said something...he said something that should have been a MAJOR red flag.
“Okay then, you’re all set...we will see you July 28th at 4:30pm. Not a moment later” he laughed
“Oh..and..one more thing, if you have some more specimens like yourself that might be interested in the free vacation...bring them along. They’ll all receive the same prize and you will receive $100 cash for every person you bring. We look forward to presenting you, Austin. Good day.”
I never gave him my name.
Still, my young dumb brain didn’t hear anything past $100 dollars. So I rounded up a few of my best pals and we were set to meet the reps over at the timeshare. The days leading up to the trip I couldn't get a hold of myself. It was so exciting. My first real vacation in...i couldn't remember how long. I longed for this type of adventure with my friends. We packed a truck full and set off to Amargosa Valley.
I brought Luke, Larry and Adam. We’d been friends since the 3rd grade. We all moved to AZ from different parts of the country that summer, so being new kids we naturally ganged up together. Luke was from Texas..we called him Tex. Real big guy. Loved to work out but definitely was a bit of a boozebag. Larry was from Ohio. Quiet in public but probably the loudest of us all. Always had some political conspiracy to talk about. Then Adam..Adam was interesting. He was from Florida...or Georgia...or Nebraska. Adam never could keep it straight about where he was from. He always had some sort of story and backtrack about where he’d come from. I personally thought he was probably from another part of AZ and just wanted to fit in...so we humor him and let him be the nomad of our group. I myself was originally from California...things got pricey so we made the move to blistering AZ.
That was my crew. No matter how long it had been, we were always as tight as ever. The ride was filled with laughing and gags. Stops at fast food joints and all around bullshitting. Yes it was an amazing time just driving there, we couldn't wait to get on with the meeting and head down to Boozeville USA. As we approached our destination...something felt off. Amargosa Valley had been a bit of a ghost town the whole drive. A gas station here. A small outlet there...but otherwise unpopulated. When we hit our destination we were met by a Chrome building. Smack center in the middle of the highway. As we parked at the only stall..we all took a look at each other.
“Well this is...odd.” Luke said plainly.
“Yeah man...are we really going there?” Adam shook out. Barely containing his fear.
“Look guys, I know it looks weird. This place is really clean and bright in the middle of a dusty desert but c’mon. It's like what...an hour of our time? Within 2 hours we’ll be on our way to the dopest guys trip ever.” I said...selfishly.
The guys all agreed. We got out, locked the car up and walked in through the sliding glass doors. The cool air hit us like a wave. Each of us breathing in the refreshingly cold air. The inside of this lobby..was also immaculate. Chrome everywhere. Right down to the sofas and chairs. A woman came from around the front desk.
“You must be here to be presented. I see you brought more specimens! What a joy! Will you gentlemen please follow me?” She said.
Specimens. Ugh. Her tone. That word still makes me shutter.
Me and the boys looked at each other..all with the same should we do it look on our faces. Maybe it was the cold air enticing our sweaty brows. We’d been a poorly AC’D truck for a couple hours. Or maybe it was the ice cold drinks she presented in front of us. Whatever the case we followed her through a door behind the front desk and were met with a grand auditorium. It looked as if it could hold maybe 50 people. And all they had was me and my knucklehead friends. As we sat down, sucking down sodas and waters, a mans voice came over the intercom.
“Welcome my friends to the Hibou Timeshare Corporation presentation. Today you will be examining the lifetime of these vessels. Determine whether or not you think they are a smart investment and make a choice if you would like to partake!” I recognized the voice. It was the same shrill tone that I set up the appointment with.
“Now my dear friends, it's time to sit back with your favorite drink...and listen..”
With that, a large projector screen came down from the celine. An old timey countdown began winding down.
BEEP3...BEEP2...BEEP1
From what I can remember, I heard the screams of something...unnatural. A scream so high tone that I felt as if my ears would burst with blood. I tried clasping my hands over my ears but to no avail. The screams were too overpowering. As soon as it started, I passed out.
I awoke looking at the lights on the celine. Unable to sit up. I could tell I was bareass naked on a metal table. I moved my head, the little that i could to see Adam next to me on another table. Naked as the day we were born. He was encased in what looked like a light purple energy field. Looking more in depth, I too had this field in front of me. Before I could speak the tables raised up. Bringing me upright. Bringing me face to face with Tex. To the left of me..Larry. “My friends, I present to you: Terramite 99-0 specimens.” a voice rang out. The same voice from the auditorium.
“They are..of the male species. Strong. Cunning and above all loyal...if raised properly.”
“HEY, you bastards. WTF is this! LET US GO!” Tex cried out. Before he could continue, the energy field tightened around him. Tex let out a scream that will haunt me for the rest of my life. The smell of burned flesh and hair filled the area. I would have puked had the horror of seeing my best friend being burned alive wasn't keeping my attention away from the smell. When the field lifted, Tex was stripped down to the muscle fibers. Hair burned down to the scalp. Tex convulsed until he finally relaxed into a hanging position on the table.
“Now see..specimen is now sedated. Reduced to a weaker position. With the energy field keeping him contained and the Auto-Reversal Time Warp engaging, we can have this specimen back into working shape immediately.”
There was an electrical hum in the air. As before my eyes, Tex’s skin began to heal. His hair growing back. And all burns subsiding. It was as if nothing had happened to him. He still hung in limbo, but we could see the breath return to his chest.The rest of us let out bits of gasps of horror and astonishment.
I could see Adam crying a bit in the corner of my eyes.
A figure appeared from behind me. A tentacle graced my shoulder, not even phased by the force field. I caught sight of the creature. It stood around 7foot tall. Skin that looked human but a head that was elongated. No nose. And eyes that were black as coal. It had two tentacles for hands. I could not see its feet, as it was covered by a long gown.
Larry screamed in anger. “Your...your...a...a…” he managed to get out before the creature silenced him.
“Shhhh….I am...a salesman is all. Now my friends I will demonstrate the life cycle of the Terramite 99-0’s.”
With that, Larry's forcefield began to hum. Right before my eyes Larry began to get...smaller. Not in stature necessarily, no, but in age. He went from being a young man..to a teenager..to that kid i met in 3rd grade..to an infant. His cries were extremely loud. Unaware of the horrors around him. At that moment I could hear Adam's field begin to hum.
“Please no! Please!” Adam begged.
“If you will direct your attention to our third pod:”
Adam then began to scream as he went from a young man..to middle aged man...to retirement age and finally...to a decrepit old man. Hair as white as snow. Wrinkled beyond recognition. Each breath looking to nearly be his last.
“From birth to the declining ages of 70 and beyond the Auto-Reversal Time Warp pods are the perfect tool to use when training your armys, your children, your slaves. Imagine...never having to replace workers. Never worrying if your training methods or punishments might go too far. Never losing a prisoner to death. And though the Terramites look to be difficult to control, I can guarantee their cooperation once put through the proper training.” The creature said. Full of glee in his dead eyes.
Between the crying of baby larry and incoherent babbling of old man adam, the room felt like it was spinning. Just when I thought things couldn't get any stranger, the rest of the lights came to life. The room we were in were surrounded by seats, similar to the ones we sat in. However, sitting in these seats were ghastly creatures of different varieties. Some looked like the salesman creature. Others were ogreish. Large bodied creatures covered in a film of slime. Some of them even looked human. It was the eyes though...their eyes were a teal color with white pupils. Many many creatures looked up me and my friends. All of them began clapping their hands and cheering in unison. The claps were deafening. The cries of the baby felt as if a baseball bat was ramming my head. Adams babbling was terrifyingly disturbing. And Tex...hanging there. Eyes rolled back into his skull. I couldnt imagine the hell he began to feel. At this point I wondered what awaited my fate. The clapping stopped abruptly.
“Oh...Austin...yes, well if you want to know what fate awaits you just shut your eyes. Shut your eyes and quietly count back from 3.” the creature said...was he reading my mind?
Suddenly the urge to close my eyes overtook me. Almost as if I had no choice, I began counting down. 3….2….1….
Everything went black. I wasn't sure if i was alive or dead...or somewhere in between. I saw nothing but black for what felt like a lifetime. And in an instant...I heard that same shrill scream. Only this time I could not cover my ears. I couldn’t feel my body but I felt an unimaginable amount of pain. As the scream grew to its peak, I slammed my eyes open. Trying to catch my breath.
I was back in the car...we were all back in the car. The engine was on. Shitty ac blasting. The others were still out. I sat up in my seat. Not wanting to move too suddenly. The sun was beating down on us. I looked over at the time on the dash…July 28th 4:34 pm. I reached into my shirt pocket and I found several vouchers for the MGM hotels in Vegas along with $300 dollars. I also found a card that simply read “Hibou Timeshare Corp. would like to thank you for a bit of your time”
The boys came too. All feeling rather groggy.
“We all fell asleep huh?” Adam laughed. “We here?”
They didn't remember a thing. Not one thing. Not going in...not the reception area...not the freaky timeshare presentation...not one bit. I lied...i told them that while they were sound asleep, we arrived a little earlier than expected. The presenter had an emergency and left our vouchers at the front desk and apologized profusely.
“Wow, what a gentleman!” Tex laughed. “We definitely owe it to him to sit through another timeshare, probono.” Larry added.
I think it's safe to say that I will not be returning to this or any other timeshare. As I drove away I could see the building disappear in the rear view mirror.
So if you’re traveling deep within the southwest of the United States and hear an ad for a free vacation that's too good to be true...do yourself a favor..turn off the radio, call into work and ask for some overtime..because nothing is ever given for free.

(Offer) Solo: Star Wars Story 4K, Secret Life of Pets 2 4K, Fight Club, Whiplash, Wreck it Ralph 4K, The Lion King 4K, Black Panther 4K,Ant-Man 4K, Spider-Man Far from Home 4K, Brightburn 4K, Men in Black International 4K, Iron Man & Hulk Heroes United, and more....(Request) Anything I don't have

I have the following below for trade. MY REQUESTS/WANTS: Vudu Credits, iTunes gift cards, The Invisible Man 2020 4K, Mulan 2020 4K, Unhinged HD, Force of Nature HD, Downhill HD, Underwater HD, Cats & Dogs 3 HD, The Good Liar HD, Motherless Brooklyn HD, Antebellum 4K, Return of Jedi 4K, Scream 2 and 3 HD, Indiana Jones Raider of Lost Ark HD ( old blue and white codes redeem via Vudu now) and anything I don't have. Open to all offers!

*4K UHD*
Avengers: Age of Ultron Full Code
Avengers: Infinity War Full Code
Avengers: Endgame iTunes 4K ports
Black Panther Full code
Thor: Ragnorak Full Code
Ant-Man iTunes 4K ports
Guardians of the Galaxy iTunes 4K ports
Captain America: Civil War iTunes 4K ports
Finding Dory iTunes 4K ports
Home Alone iTunes 4K ports
Deadpool iTunes 4K ports
War for the Planet of Apes iTunes 4k ports
John Wick Chapter 3 iTunes 4K no port
The Lion King 4K Full Code
Wreck it Ralph 4K Full Code
Solo: Star Wars Story 4K Full Code
Star Wars: Force Awakens iTunes 4K ports
Star Wars: Rise of Skywalker 4K MA
A Wrinkle in Time 2018 4K Full Code
Incredibles 2 4K Full Code
Pirates of Caribbean: Dead Men Tell No Tales iTunes 4K ports
Atomic Blonde 4K MA or Vudu
Get Out 4K MA or Vudu
The Secret Life of Pets 1 2016 4K MA or Vudu
The Secret Life of Pets 2 2019 4K MA or Vudu
Terminator Genisys 4K Vudu
Holms & Watson 4K
The Dark Tower 4K
Gemini Man 4K Vudu
Annihilation 4K Vudu
Ghost in the Shell 2017 4K Vudu
Jason bourne 4K MA or vudu
The LEGO Movie 4K MA
The Fate of the Furious Theatrical 4K MA or Vudu
Alpha 4K MA
The Star 2017 4K MA
The Night Before 4K MA
Zombieland 4k MA
The Angry Birds Movie 2016 4K MA
The Possession of Hannah Grace 4K MA

*Disney*
Avengers: Age of Ultron 4K Full Code
Avengers: Infinity War 4K Full Code
Avengers: Endgame iTunes 4K ports
Black Panther 4K Full Code
Thor: Ragnarok 4K Full Code
Captain America: Civil War HD MA or iTunes 4K ports
Ant-Man HD MA or iTunes 4K ports
Captain Marvel HD GP
Iron Man 3 HD MA
Guardians of the Galaxy HD MA or iTunes MA 4K ports 4K
Guardians of the Galaxy HD GP
Ant-Man HD MA
Doctor Strange HD Ma
Iron Man & Hulk: Heroes United HD MA
Iron Man & Hulk: Heroes United HD GP
Super Buddies HD GP
Solo: A Star Wars Story 4K MA Full Code
Solo: A Star Wars Story HD GP
Star Wars: Rise of Skywalker 4K MA
Star Wars: Force Awakens iTunes 4K ports
Star Wars: Rise of Skywalker HD GP
Incredibles 2 4K MA Full Code
A Wrinkle in Time 2018 4K MA Full code
Aladdin 1992 HD MA
Aladdin 1992 HD GP
Planes HD MA Full Code
Finding Dory HD MA or iTunes 4k ports
Christopher Robin HD MA
Christopher Robin HD GP
Mary Poppins MA
Bridge of Spies MA
The Jungle Book 1967 HD GP
Bambi HD GP
Toy Story 2 HD GP
Toy Story 3 HD GP
Toy Story 4 HD MA or iTunes 4K ports
Maleficent HD GP
Maleficent 2: Mistress of Evil HD GP
Peter Pan HD MA
Peter Pan HD GP
Pete's Dragon 2016 LA HD MA
Pete's Dragon 2016 LA HD GP
Moana HD GP
Coco HD GP
Cars 3 iTunes 4K ports
Cars 3 HD GP
Tangled HD GP
The Jungle Book 2016 HD MA
Zootopia HD MA
Mulan 1998 HD MA
Pirates of Caribbean: Dead Men Tell No Tales iTunes 4K ports
Diary of a Wimpy Kid: Dog Days HD MA
Diary of a Wimpy Kid: The Long Haul HD MA
Home Alone HD MA or iTunes 4K ports
War for the Planet of Apes HD MA or iTunes MA 4K
Deadpool iTunes MA 4K ports
Deadpool 2 HD MA includes Super Duper Cut
12 Rounds 2: Reloaded HD MA
The Heat HD MA
Fight Club HD MA
The Secret Life of Walter Mitty HD MA
Atlas Shrugged Trilogy SD MA Bundle
Atlas Shrugged Part 1 HD MA
Edward Sissorhands HD MA

*HD Vudu or MA*
The Dark Knight vuduredeem includes bonus features ports to MA
Fight Club
Atlas Shrugged Part 1
The Incredible Hulk
Beetlejuice
Halloween: The Curse of Michael Meyers Unrated
Grown Ups 1 2010
Stuart Little
Searching 2018
Don't Breathe 2016
Minions
Edward Scissorhands
12 Rounds 2: Reloaded
The Heat
Diary of a Wimpy Kid 3: Dog Days
Diary of a Wimpy Kid: The Long Haul
Home Alone HD MA or iTunes MA 4K
War for the Planet of apes HD MA or iTunes MA 4K
The Secret Life of Walter Mitty
Deadpool HD MA or iTunes MA 4K
Deadpool 2
2 Fast 2 Furious
Ender's Game ( possibly redeems in 4k via vudu)
Power Rangers 2017 HD vudu or iTunes 4K no port
The Magnificent 7 2016
Fist Fight
The LEGO Batman Movie 2017
The Smurfs 2
Crawl
No Strings Attached
Jersey Boys
Divergent HD vudu or iTunes 4K no port
The Divergent Series: Insurgent HD vudu or iTunes 4K no port
Argo
Valerian and City of Thousand Planets
The Hobbit: Desolation of Smaug Extended Edition
Hugo
Paranormal Activity 1
Paranormal Activity 2
Paranormal Activity 3 Extended HD or SD?
The Devil Inside HD or SD?
True Grit 2010
Jackass 3
Terminator Genisys
Terminator: Dark Fate
Pet Sematary 2019
G.I. Joe Retaliation
Annihilation
Ghost in Shell 2017
The Mummy 1999
The Mummy: Returns
Rango
Justin Beiber: Never Say Never
Titanic 1997
The Fighter
The LEGO Batman Movie 2017
The LEGO Movie vuduredeem will ports includes bonus features
Barbie: Video Game Movie
Now You See Me
Grudge Match
Get Hard
Snitch
Alex Cross
The Cabin in the Woods
Kevin Hart: Let Me Explain
Jurassic Park
the Lost World: Jurassic Park
Jurassic Park 3
Jurassic World
The Campaign
Sherlock Holmes 1 2009
Get Smart
Fifty Shades of Grey Unrated
Fifty Shades Darker Unrated
Snow White & the Huntsman Extended Edition
The Hobbit: an Unexpected Journey
The Hobbit: Desolation of Smaug
Man of Steel
Batman V Superman: Dawn of Justice Ultimate Edition
The Secret Life of Pets 1 2016
The Secret Life of Pets 2019
Downtown Abbey: The movie 2019
Daddy's Home
Noah
Terminator Dark Fate
How to Train Your Dragon 2
Turbo
Madagascar 3: Europe's Most Wanted
Whiplash
The Amazing Spider-Man 2
Robocop 2014
The House 2017
Chips 2017
Twilight: Breaking Dawn Part 2 HD vudu or iTunes 4k no port
Warm Bodies HD vudu or iTunes 4K no port
Jason Bourne
The Bourne Supremacy
Harry Potter Order of the Phoenix
Harry Potter and Half-Blood Prince
Harry Potter and Deathly Hallows Part 1
Harry Potter and Deathly Hallows Part 2
Sex & the City: The Movie
The Fast and the Furious 1 2001
Fast Five Extended
Fast & Furious 6 Extended
Furious 7 Extended
The Fate of the Furious Theatrical
The Fate of the Furious Extended
The Fast & Furious Presents: Hobbs & Shaw
Hercules 2014
Magic Mike
Magic Mike XXL
The Last Stand
The Grinch 2018
The Grinch Who Stole Christmas 2000
A Dog's Purpose
Journey 2: The Mysterious Island
Pacific Rim
Gravity
Super 8
The Hunger Games
The Hunger Games: Catching Fire
the Hunger Games: Mockingjay Part 1
Surf's Up
Anger Management
The 6th Day
Safe 2012
Spider-Man: Homecoming
Pitch Perfect
Hail, Caesar
The Young Messiah
Happy Feet 2
Ted Unrated HD MA doesn't redeem via vudu only MA or FN
Ted 2 Unrated HD MA same as Ted 1, doesn't redeem via Vudu only MA or FN
John Wick HD vudu or iTunes 4K no port
john Wick Chapter 2 HD vudu or iTunes 4K no port
Mission Impossible 4: Ghost Protocol
Mission Impossible 5: Rogue Nation
Non-Stop
Cloud Atlas
Hours 2014 film
Dirty Grandpa Unrated
The Expendables 2
The Expendables 3 theatrical
Wrath of the Titans
Riddick Unrated Director's Cut
London has Fallen
Mechanic Resurrection HD or SD?
Warcraft
Hansel & Gretel: witch Hunters Unrated
World War Z
The Last Witch Hunter HD Vudu or iTunes 4K no port
God's Not Dead 2 2016
TMNT 2014
Transformers: Dark of Moon
Transformers: Age of Extinction
Transformers: The Last Knight
Star Trek 1 2009
Star Trek: Into Darkness
Star Trek: Beyond
Chappie
Extremely Loud & Incredibly Close
The Great Gatsby
Inception
The Dark Knight Rises

*TV Shows & Movie Bundles*
Game of Thrones Season 1 vudu/GP or iTunes
Game of Thrones Season 3 vudu/GP or iTunes
Game of Thrones Season 7 vudu/GP or iTunes
Game of Thrones Seasons 1-7 HD vudu Bundle 1 code redeems all season 1-7
Game of Thrones Season 8 vudu/GP or iTunes
Arrow Season 3 SD vudu
Saw 1-7 Unrated Bundle HD vudu 1 code, 7 movies
Atlas Shrugged Trilogy SD MA bundle 1 code, 3 movies
How to Train Your Dragon Trilogy HD MA bundle or vudu 1 code, 3 movies
The Secret Life of Pets 1 & 2 2 Film Collection HD MA or vudu 1 code, 2 movies
Mamma Mia 1 & 2 2 Film Collection HD MA or vudu 1 code, 2 movies

*MA Google Play, all will ports*
Alien 1979
Alien: Covenant
X-Men: Days of Future Past
X-Men: Apocalypse
The Wolverine
The Heat
The Other Women
How to Train Your Dragon 2
The Croods
Turbo
Spirit: Stallion of the Cimarron
The Secret Life of Walter Mitty
Rio 2
A Good Day to Die Hard
Deadpool 2
Taken
Taken 2
Ice Age

*SD MA or vudu*
Fury 2014
22 Jump Steet
Olympus has Fallen
The Vow
1 Direction: This is Us
Dead Man Down
No Good Dead
Concussion
Don't Breathe
The Shallows
Neighbors
Fast Five Extended
Sausage Party
Think Like a Man 2
Sherlock Holmes 2: A Game of Shadows
Aloha

*Canadian MA Google Play, all should port*
Mortal Engines 4K ports HD only
Starship Troopers 4K ports HD only
Dunkirk 4K ports HD only
Passengers 2016 4K ports HD only
The LEGO Movie 4K ports HD only
The LEGO Ninjago Movie 4K ports HD only
Batman V superman: Dawn of Justice Ultimate Edition 4K ports HD only
J.Edgar
Edge of Tomorrow
Ghostbusters 1984
Spider-Man: Homecoming
Jurassic World 2: Fallen Kingdom
Angry Birds Movie 1 2016
Goosebumps 2015
Doctor Sleep
Ted Unrated
Ted 2 Unrated
Jurassic Park
The Lost World Jurassic Park
Jurassic Park 3
Jurassic World
The Fast and Furious 1 2001
Fast Five Extended
Fast & Furious 6 Extended
Furious 7 Extended
The Fate of the Furious Theatrical
The Fate of the Furious Theatrical
Split 2017
Minions
The Secret Life of Pets 1 2016
The Grinch Who Stole Christmas 2000
The Bourne Supremacy
Jason Bourne
Barbie: Video Game Movie
The Mummy 1999
The Mummy: Returns
007: Skyfall MGM, Will not port to MA
Pitch Perfect
Hail, Caesar
The Young Messiah
We're the Millers
Resident Evil 6: The Final Chapter
The LEGO Batman: Heroes United 2013 animated film
Man of Steel
Argo
Beautiful Creatures
American Sniper
The Great Gatsby
Halloween 2018
Ready Player One
Sex & City: The Movie
Get Smart
The Hobbit: an Unexpected Journey
The Hobbit: Desolation of Smaug Extended Edition
The Hobbit: Desolation of Smaug Theatrical
The Hobbit: Battle of Five Armies
The Wizard of Oz
Jack the Giant Slayer
Batman: The Dark Knight Returns Part 2
Pacific Rimg
Godzilla 2014
The Hangover Part 3
300: Rise of an Empire
Elysium
A Very Harold & Kumar Christmas
The Good Lie
The Incredible Burt Wonderstone
The Grinch 2018
Extremely Loud & Incredible Close
Son of God foxredeem doesn't port
Joy Ride 3 foxredeem doesn't port
Justice League: Throne of Atlantic
Justice League: Doom
White House Down
Keanu 2016

*iTunes redeem*
The Boss MA
Ratchet & Clank MA
Scarface 4K MA
The Mummy 2017 4K MA
The Mummy 1999 4K MA
The Mummy Returns 4K MA
Back to the Future 4K MA
Back the the Future Part 2 4K MA
Back to the Future Part 3 4K MA
The Great Wall 4K MA
psycho 4K MA
The Girl on the Train 4k MA
Lucy 4K MA
Battleship 4K MA
Deadpool 4K MA
War for the Planet of Apes 4K MA
Home alone 4K MA
Avengers: Endgame 4K MA
Captain American: Civil War 4K MA
Ant-Man 4K MA
Star Wars: Force Awakens 4K MA
Finding Dory 4K MA
Toy Story 4 4K MA
Cars 3 4K MA
Pirates of Caribbean: Dead Men tell No Tales 4K MA
Dr. Seuss's: The Lorax 2012 HD MA
The Secret Life of Pets 1 2016 4K MA
The Grinch Who Stole Christmas 2000 4k MA
Schindler's List 4k MA
Love Actually HD MA
Girls Trip HD MA
Neighbors HD MA
Ride Along HD MA
Ride Along 2 HD MA
Holiday Inn HD MA
The Huntsman: Winter's War 4K MA
Get Out 4K MA
Split 4K MA
Jurassic Park 4K MA
The Lost World: Jurassic Park 4k MA
Jurassic Park 3 4K MA
Jurassic World 4K MA
Straight Outta Compton 4k MA
The cult of Chucky HD MA
Krampus HD MA
London has Fallen HD MA
Paul 2011 HD MA
The Purge 4K MA
The Purge: Anarchy 4K MA
The Purge: Election Year 4K MA
Dead Again in Tombstone HD MA
Sinister 2 HD MA
Non-Stop HD MA
The Grey HD MA
Warcraft 4K MA
The Bounre Legacy 4K MA
The bourne Supremacy 4K MA
The Bourne Identity 4K MA
Jason Bourne 4K MA
The Bourne Ultimatum 4K MA
Atomic Blonde 4K MA
Oblivion 4K MA
Serenity 2005 4K MA
Shaun of the Dead 4K MA
A Dog's Purpose HD MA ports
The Nightmare Before Christmas SD MA
Family Guy: Blue Harvest SD MA
Finding Nemo SD MA
The Fast and the Furious 1 2001 4K MA
2 Fast 2 Furious 4K MA
The Fast and Furious: Tokyo Drift 4K MA
Fast & Furious 4 2009 4K MA
Fast Five HD MA
Fast & Furious 6 4K MA
Furious 7 4K MA
The Fate of Furious Theatrical and Extended Edition 4K MA
Oblivion 4K MA
Serenity 2005 4K MA
The Incredible Hulk 4K MA
Jaws 4K MA
Megan Leavy HD MA ports
Despicable Me 1 2010 4K MA ports
Despicable Me 2 4K MA ports
Despicable Me 3 4K MA ports
Smokey and Bandit HD MA ports
Fifty Shades of Grey 4K MA ports
Fifty Shades Darker 4K MA ports
Barbie Starlight Adventure HD MA ports
Barbie video Game Movie HD MA ports
Pitch Perfect 4K MA ports
Pitch Perfect 2 4K MA ports
The Young Messiah HD MA ports
Barbie: Pony Tale HD MA ports
Hail, Caesar HD MA ports
Sing 4K MA ports
Everest 4K MA ports
Contraband HD MA ports
Snow White & The Huntsman 4K MA ports
Ghost in Shell 2017 4K no port
Now You See Me 4K no port
Now You See Me 2 4K no port
Star Trek: Into Darkness 4K no port
Star Trek: Beyond 4K no port
The Hunger Games 4K no port
The Hunger Games: Catching Fire 4K no port
The Hunger Games: Mockingjay Part 1 4K no port
The Hunger Games: Mockingjay Part 2 4K No port
John Wick 4K No port
John Wick Chapter 2 4K no port
John Wick Chapter 3 4K no port
The Last Stand HD no port
Official Secrets HD no port
Gemini Man 4K no port
3022 HD no port
Rogue Warfare HD no port
Light of my Life HD no port
Pet Sematary 1989 4K no port
Bumblebee 4K no port
Killerman HD no port

Wrestling Observer Rewind ★ May 16, 1988

Going through old issues of the Wrestling Observer Newsletter and posting highlights in my own words, continuing in the footsteps of daprice82. For anyone interested, I highly recommend signing up for the actual site at f4wonline and checking out the full archives.
• PREVIOUS •
1987
FUTURE YEARS ARCHIVE:
The Complete Observer Rewind Archive by daprice82


1-4-1988	1-11-1988	1-18-1988	1-25-1988
2-1-1988	2-8-1988	2-15-1988	2-22-1988
2-29-1988	3-7-1988	3-14-1988	3-21-1988
3-28-1988	4-4-1988	4-11-1988	4-18-1988
4-25-1988	5-2-1988	5-9-1988	*

The big stories this week really won’t hit until late in the issue, so read down I guess.
[NWA] The Midnight Rider angle lasted just a whole two weeks after his initial arrival. The whole thing began just four or five weeks back with a baseball bat and punching Magnum T.A., and all that work was wasted when they pulled the plug. The Midnight Rider gimmick just wasn’t working, so they did an official announcement that Paul Boesch convinced the NWA board to reinstate Dusty. All the panicked decisions lately leave Dave with the impression that the NWA is in worse shape than they seemed to be a few weeks back, and things don’t look likely to change any time soon. More of a surprise to Dave than the fact that it wasn’t working is the fact that they did it so quickly when the angle was supposed to last through the summer. He thinks that has to be hard on Dusty’s ego. So them setting up a feud between Dusty and Barry Windham when the logical feud should be Luger and Windham seems a desperate move to placate Dusty. And there’s no predicting what the NWA will do next, because the people in charge don’t seem to know what they’re doing week to week.
Ex-NFL star Steve Courson makes his pro wrestling debut this week at a Pennsylvania independent show. He’s barely trained and being rushed into the ring to capitalize off his NFL fame. The guy was a heavy steroid user back in the NFL and admitted as much, and his career ended due to health issues a couple years ago. Nevertheless, he’s got an anti-steroid book about to hit bookshelves. Seems carny enough for the business.
Roddy Piper showed up at Don Owen’s April 30 card in Portland. Billy Jack Haynes’ rival promotion debuted on May 7 and starts its tv program on May 14. Haynes claims he didn’t delay a week due to Piper’s April 30 appearance, but because his ring lights were late in arriving. They were lighting Chris Adams’ ring, I’m sure. Anyway, Piper showed up in the interview area and never entered the ring, and when Mike Golden told Piper to scram during his interview, Piper acted passive and backed off to help put Golden over. Golden then produced a contract for a match on May 7 and tried to goad Piper into a match, to which Piper retorted he’s lost a lot of weight and isn’t a fighter anymore, only to finally get into it with Golden after more taunting and Golden spitting on him. Fans left with the idea that Piper would fight Golden, but Piper never appeared on May 7 and no announcement of them having a match took place.
Variety Magazine reports that all the weekly pro wrestling shows have dropped out of the top 15 in syndicated ratings. So the real story is the way that the wrestling shows made it into the top 15 in the first page. The WWF network had 5 shows, Crockett network had 4, and All-Star Wrestling network had at least 6, and each of those packages added up the ratings of all the shows in them and reported that rating. Compare to say, Wheel of Fortune, which is just the one show, and so you had the combined ratings of anywhere from 4-6+ shows trying to act like all the shows in that package were competitive ad space to a show like Wheel or Jeopardy, which is unfair to those single shows that pull in massive ratings. Anyway, those who calculate ratings have done away with those network packages in their calculations to level the playing field, so WWF isn’t getting ahead of Oprah and her single show’s 9 rating by combining five shows to pull a 10 rating anymore. Superstars, which is definitely WWF’s most watched show, doesn’t even come close to the top 15 on its own. For Dave, this isn’t a big deal, other than that it’ll be harder to track ratings, which are the best way to measure interest at the moment. Dave’s tv industry contacts think this is a big blow to wrestling as an industry, however, and more damaging to Crockett than McMahon since Vince has sold most of his ad slots for the year already. Nothing has materially changed, but advertisers are going to see wrestling as less hot, and their places in the top 15 have been taken by shows like Love Connection, Star Search, and Hollywood Squares. A wrestling network package might offer the same number of viewers, but advertisers look at the rankings to decide what’s hot, and wrestling’s not going to appear there anymore, and their ads in trade publications won’t be able to boast WWF or NWA as among the highest rated networks in syndication. Long story short, Promoters are going to have to chase advertising dollars rather than advertisers chasing promotions, and that spells an eventual downturn for the business.
[NWA] Clash of the Champions II, called Miami Mayhem, has been announced for June 8. Dave gets the feeling that it won’t be as hot a show as the first Clash and that those in the company think they might have given away too much on the first and thus hurt themselves at the gate. Dave thinks they did indeed give a lot, but they also failed to take advantage of a lot. Like, the barbed wire match was the end of a feud and they didn’t even know it because despite the heels being beaten quick and clean, they’re still running the match when there’s no point in continuing the feud. Dave thinks they had a lot of momentum coming off the first clash and they squashed it by downplaying everything in favor of the now-aborted Midnight Rider angle.
Randy Savage is now being billed as Undisputed WWF Champion. They’ve dropped the word “heavyweight” and Dave’s been told they’re planning to no longer use it, for whatever that’s worth.
WWF is working on a bunch of non-wrestling specials. Kind of like the Slammy Awards in the way they’ll sell the shows and in their hopes for ratings. Dave hopes not similar in terms of quality, at least.
Managers Mr. Fuji, Jimmy Hart, and Frenchy Martin appeared on WWF’s May 7 Boston house show. No idea if it’s just certain New England cities they’ll appear in or what, but yeah, that’s the update on the managers at house shows thing.
Dave and his friends were joking that Ultimate Warrior vs. Andre the Giant would be the worst possible match this generation. Lo and behold, Dave found out that they put that match on a few weeks back in Switzerland on a European tour. Dave asks “What did the Swiss ever do to Vince McMahon?” I can't find anything from Switzerland, but I did find a clip from Italy on that same tour.

Watch: Andre vs. Warrior

Dave saw the program for the Central States April 28 show in Kansas City and it’s the funniest thing he’s seen in a while. The program talks about the Freebirds (supposed to be coming in) and says they’re managed by Michael Hayes, and it has a picture of Hayes taken from their original heel days in Georgia in 1980. Bob Geigel runs the promotion and makes his own programs, and it’s good to see how up to date he’s managed to be.
Ken Mantell sent a letter to every promotion except WWF and NWA offering for World Class to work with them. World Class isn’t running a full-time schedule, so Mantell’s looking for ways to get his guys out there, but they only have a couple guys with any significant name value. Michael Hayes, Terry Gordy, Terry Taylor, and maybe Chris Adams could give a boost to a promotion getting into things with a local babyface, but just sending Taylor and Adams to have a match against each other won’t help anyone (they did that for the May 2 show in Memphis). Talent sharing isn’t helpful to the other promotions unless they can do a tv angle or work several shows rather than a one-off date (with the rare exception of a Michael Hayes date in Atlanta, or Gordy doing an independent show with a match against Brody or Abdullah).
[Memphis] Eddie Gilbert beat Jerry Lawler on May 2 to keep Missy Hyatt’s hair on her head. The finish saw Lawler punch Paul E. Dangerously (who manages Gilbert in Continental) after Missy failed to distract Lawler with her open shirt trick. Dangerously showed up when Lawler went after her, and then Kenny Dee, who was managing Lawler, threw powder in Lawler’s eyes, leading to Gilbert getting the pin. Money wound up changing hands from Dangerously to Hyatt to Dee after the match, so Kenny Dee is a newly minted heel manager.
Also in Memphis, the Iceman King Parsons vs. Kerry Von Erich match from the same show got little reaction. People came to see Lawler and Gilbert, not them, and Dave still doesn’t understand putting this match on and billing Parsons as a world champion when the next show is Lawler vs. Hennig for the AWA World Title. It’s just undercutting that match to act like the WCCW title is a world title and then turn around and go “Well here’s a different world title” and being very inconsistent in their recognition of world championships.
More on the special referee poll for the May 9 LawleHennig match. They’re running the poll from a 1-900 number (which means a cost of $1 per phone call), so the company was profiting off the poll. That explains the amount of promotion they were doing saying that Larry Hennig was winning the poll by a narrow margin due to fans in Minnesota flooding the line with votes for Hennig. They were doing no such thing, but it’s a smart way to bilk the local fan base. In Memphis, they run their tv show live, so when it started at 11 am, they did a segment where they said the poll would close at noon (Hennig still leading the results) to keep fans voting until the last minute, even doing another segment at 11:45 am. At noon, Lawler came out and acted all serious with his best Bad News Barrett impression and said he was afraid he had some bad news. “Bad news for Curt Hennig, that is,” and announced Jackie Fargo was the winner of the referee poll. Dave guesses the reason for the charge is probably to drum up enough money to pay Curt Hennig enough to be happy, but this sure is a new way to try and make money off wrestling.
There’s a newcomer in the Oregon territory named Steve Austin. No, he’s not stone cold, but he’s also used the name Steve Winters (Dave believes this is his real name), and he’ll wind up wrestling for Stampede in the future under the name Lance Idol. Dave’s seen him a bit before in his early days in the Bay area and recalls him being a good worker trying to emulate Ray Stevens in style.
Don Owen’s May 7 show had the best case for allowing blading that Dave has ever heard of. They had a Northwest Tag Title cage match with Steve Doll and Scott Peterson beating Avalanche and Mike Golden to regain the titles. Owen believes you need blood in a cage match, while the Oregon commission has banned blading, so how do you suppose Owen got around the issue? Mike Golden got bloody hardway, and they wanted Peterson to bleed too, so they had Golden and Avalanche try to hardway Peterson with potatoes to the forehead. Dave hears they did some 14 hard punches to Peterson’s head and none of them opened him up. One did bust up his nose a bit, though. This is what happens when blading is banned and wrestlers feel the need to get color - they’re going to be really unsafe and hurt themselves.
Tatsumi Fujinami beat Vader by countout on April 27, in a show that drew 5,000 in Osaka. For comparison, All Japan’s Brody/Tenryu match there last month drew 4,000. Fujinami had vowed to retire if he couldn’t beat Vader, so they kind of had to have that finish if they wanted Vader to keep his monster aura without honoring a retirement. Anyway, Dave isn’t sure if this is legit or just an angle, but Fujinami is being reported as trying to make a play for the top spot now that Inoki’s foot is broken. He’s even got a new haircut to symbolize his change from being a young disciple of Inoki to being his own man.
All Japan Women’s May 15 show has a hell of a triple main event lineup. At the top of the card you have the Crush Girls vs. the Jumping Bomb Angels. Then you have Mika Suzuki vs. Kaoru Maeda for the jr. championship (not a weight class, but rather a title exclusively for wrestlers with under 2 years experience). Lastly, Erika Shishido and Nobuko Kimura defend the AJW tag titles against two of the standout rookies from the class of 1987 who are getting their first crack at major exposure, Manami Toyota and Toshiyo Yamada. Erika Shishido, by the way, is a 17 year old from the class of 1986 and the company has big plans for her as a future heel star and partner for Bull Nakano. You may know her better as Aja Kong.
Windy City Wrestling drew remarkably well, drawing $40,000 at International Amphitheater in Chicago. It’s the largest gate Dave’s ever heard of for an independent promotion. The card had Col. DeBeers, Candi Divine and Debbie Combs, Paul E. Dangerously, Buddy Rose and Doug Somers, and a bunch else going on. Based on ticket prices, they pulled an audience of over 4,000 people. The promoter sold the show to the venue for $10,000, so they made a big profit on the event. WWF has taken notice and already there’s talk of them running the same venue, because they believe it may tap into a different crowd than the Rosemont Horizon.
[Stampede] Owen Hart’s reign as North American champion has ended as of May 6. He dropped the title to Makhan Singh, whom he beat for the title on April 10, 1987. Definitely a step toward Owen’s departure from the promotion here, as his last match with Stampede if he does go to the WWF will be on May 14 before he does the IWGP series for New Japan. Owen did agree to go to the WWF for a masked gimmick, either a Tiger Mask or Mighty Mouse type, but he’s apparently having second thoughts, perhaps related to a personal goal he supposedly has of having the match of the year with Ric Flair. Sadly, Owen’s never going to get that match. Bret and Davey Boy Smith are pushing hard for Owen to come to WWF.
Heading to Stampede is Steve Blackman. Blackman’s done some jobs for WWF in the past and is kind of a powerlifter type. He’s being paired with Brick Bronsky, whom Dave describes as an untalented lifter type (Dave rates the May 7 Edmonton match between Kerry Brown and Bronsky at -3.5 stars and calls it one of the worst matches Stampede will ever have), and their team name is the Abortion Alliance. Jeezus, Bruce.
A new women’s wrestling promotion is supposed to start up, doing tapings at Caesar’s Palace in Las Vegas. Wendi Richter and Misty Blue are said to be the top stars and Gordon Solie is said to be on board for announcing, and there’s supposedly tv contracts lined up.
Ted Turner is working on a new cable station called TNT. It’s gonna have a lot of MGM movies and sports events, and probably eventually some Crockett wrestling. The FCC is expected to change some regulations, which would put WTBS back to only being Atlanta-local and all the superstations will revert to local tv.
Looks like a lock that Financial News Network will be taking on Continental by the end of the month or early June. As for a deal with New Japan, that seems to be on hold, as neither side could come to an agreement.
Lawsuits corner. WWF is suing FNN over their Hulkamania package. Larry Sharpe is suing Bam Bam Bigelow for breach of contract. Sharpe was Bigelow’s real manager back in Japan.
The best match on an independent show in Brooklyn on April 29 saw Lou Fabiano (a former WWF jobber) team with Cactus Jack against George Skaaland and Tom Brandi. Cactus Jack is a trainee of Dominic DeNucci, and Dave hears that he’s a top flight worker.
Word is that Futahaguro (real name Koji Kitao), the yokozuna who got kicked out of sumo, is reporting to the Monster Factory in New Jersey to train under Larry Sharpe. He’s in New York this week on other business (mostly talk shows), so no definite word, but that’s the rumor coming out of the area.
The Von Erich Parade of Champions drew an estimated 7,000 fans. Dave anticipates a more accurate estimate and gate next week. The show was… Let me just give some highlights. The first match was terrible. The second match was mostly rest holds and had no heat, and after winning the match Mike George grabbed the mic to make sure the fans knew he was recognized as World Champion in Kansas City. Nobody cared because nobody cares about the Kansas City promotion. Steve Casey was supposed to challenge Eric Embry for the light heavyweight title, but he came in 1.5 pounds over the weight limit. After the crowd heckled Embry, he agreed to a non-title match, which Casey won in 19 seconds. That extra weight made all the difference, I reckon. Bill Irwin vs. Black Bart was fair. Then you had Michael Hayes vs. Terry Gordy in a triple tower of doom and Dave says that while there was heat, the gimmick’s a total dud because you can’t do any moves or take any bumps the way it’s all structured. They then gave the crowd something good, as Terry Taylor beat Chris Adams to keep the Texas title in a great match. The Texas roundup in the triple tower of doom, on the other hand, was the opposite of great. If Dusty plans to actually use this concept, he’s got a lot of work cut out for him, because not one fan in the building understood what the hell was going on. Bruiser Brody carried his match teaming with Kevin Von Erich against Buddy Roberts and Solomon Grundy, and nobody cared about Kevin. They had to replace Schaun Simpson with Terry Gordy due to injury suffered in the Texas roundup for the Wild West/Texas tag title unification match, and Gordy/Simpson won by disqualification. It’s unclear if that makes the Simpsons Wild West tag champs and Gordy/Simpson Texas tag champs, or if it unifies the titles on the Simpsons, or what. In the end, Kerry Von Erich regained the WCCW title. Nobody cares. World Class is every bit as fucked as WCW in 2000.
Dave’s got the lineup for the second Clash, and he thinks the NWA is now afraid to put on a hot show. Windham vs. Ricky Santana, Koloff vs. Al Perez, Dusty vs. Larry Zbysko, the Garvins vs. Rotunda and Rick Steiner, the Fantastics vs. Sheepherders for the U.S. Tag Titles, and Blanchard/Anderson defending the NWA tag titles against Sting and Steve Williams. No Flair, Luger, or Road Warriors in sight.
When the NWA announced Dusty’s reinstatement, the reaction was pretty negative. After a moment of silence, one woman cheered and two more joined her, and they were swiftly drowned in a chorus of boos.
Night 2 of the Crockett Cup grossed $115,000 at the gate. The Cup as a whole managed a combined gate equal to the merch sales gross at Wrestlemania.
They’re building a new Coliseum in Charlotte, North Carolina, and it’s supposed to open in the fall. Word is that WWF will get the first two shows there and Crockett will be relegated to the 2,500 seat Charlotte Park Center, since the old Coliseum building will be torn down. WWF can’t run the existing Coliseum for the same reasons Crockett can’t touch Madison Square Garden, but the new Coliseum has different management with no relationship to Crockett, so they’re going to give WWF a chance.
Gordon Solie and Mike Graham’s new Florida Championship Wrestling has opened up and did their first tv taping on April 30. They’re looking to run five days a week in central Florida starting real soon.
Antonio Inoki’s injury has led to New Japan declaring the IWGP Title vacant. Tatsumi Fujinami battles Vader on May 7 for the title. Seems to be a lot of behind the scenes tension between Fujinami and Choshu as well. Fujinami walked out after the April 27 show, leaving only Choshu of the original four top draws in the company.
Tiger Mask (Mitsuharu Misawa) is getting married on May 10 and will unmask for the wedding. He’s marrying movie star Tomomi Shiina. After the wedding he may stop wrestling as Tiger Mask and go back to his real name.
As soon as TNT is available in 30 million homes, Crockett’s tv will be moved there. All kinds of rumors are swirling about Crockett and Turner, but as far as Dave’s aware no firm deal of any kind has been reached.
The NWA, Mike Rotunda, Kevin Sullivan, and the city of Albany are all being sued for “torturous acts and personal injury” by 16 year old Mike Strickland. Strickland alleges that on February 9 he was patting wrestlers on the back when city police officers working security for the show seized him and arrested him, then took him to a secluded area where Rotunda and Sullivan “wilfully, intentionally and purposefully assaulted and attempted to commit violent and illegal physical injury” on him and that the police did nothing to stop the beating.
Dave wants us to know that although it was extremely predictable, he found the Midnight Express’s party on the WTBS show really entertaining. Yeah, when you have a cake in wrestling it winds up in the heel or announcer’s face, but the banter between Cornette and Stan Lane was really fun.

Watch: Jim Cornette gets caked

Ted Turner’s got some kind of package deal he’s pitching, using the July NWA ppv as incentive to get cable systems to buy in on TNT. Or maybe it’s the other way around. Dave understands that the cable companies will likely get a higher share of revenue for the PPV from the show than the usual 50/50 split, and Dave says this show is really do or die for Crockett.
Abdullah the Butcher and Kamala no-showed Jerry Blackwell’s May 8 show. They had turned down a spot at the Von Erich Memorial Parade of Champions to do that show, so that’s ironic.
”JERRY LAWLER PINNED CURT HENNIG TO WIN THE AWA TITLE ON 5/9 IN MEMPHIS BEFORE 9,500 FANS." The match was apparently “not great” and saw Lawler win by grabbing Hennig by the knees and kangaroo flipping him headlong into the ring post for the pin. Great reaction to the finish, but yeah, Lawler is the new AWA champion. More on this next week.

Watch: the finish to Lawler vs. Hennig

One letter writer chimes in that “loser groups” like GLOW and POWW don’t deserve time in the Observer. In fact, he hopes they lose their time slots in New York and Boston to Continental and Memphis to give WWF real competition. Yeah, because those groups are going to be able to do that.
Still a bunch of letters sniping back and forth about Clash vs. Wrestlemania. One says they can’t believe anyone could think FlaiSting was the best match they’ve seen in years. Another says that for “Vince McMahon to put WWF fans through that show constitutes cruel and unusual punishment.” As usual, wrestling fans are level-headed and gracious in their disagreements. It warms my soul to see us carrying on this proud tradition of sober discourse on reddit in 2020.

NEXT WEEK: AWA Champion Jerry Lawler, reports from Texas Stadium, Fujinami becomes IWGP champion, Oregon-Washington Wrestling Federation debut show, and more

A Look Into Universal 2021: These Movies Won't Dolittle at the Box Office

In this post, I will focus on Universal Pictures, the studio that made sure Trolls World Tour made history by being a large film without a wide theatrical release. Besides that, this studio is well known for Jaws, E.T.: The Extra-Terrestrial, Jurassic Park, The Fast and the Furious, Despicable Me, and The Secret Life of Pets. Some of the best films of all time were made by Universal like Touch of Evil, To Kill a Mockingbird, Back to the Future, Do the Right Thing, and Schindler’s List. Most recently, the studio is well known for Cats, 1917, The Invisible Man, and Trolls World Tour.

The Current Situation of Universal Pictures

Universal has been doing very well since 2015. 2015 was the year they dominated the box office with Jurassic World, Furious 7, and Minions. 2015 proved that those were Universal’s largest franchises. However, they seem to be coming to an end with the new decade. In a way, the COVID-19 pandemic delayed the inevitable that these three main franchises are looking to end by 2026. Let’s take a look at how Universal did this year and how they can possibly do next year.

2020

Dolittle - The year started with Dolittle (considering that 1917 is a 2019 film, even if it didn’t release nationwide until January 10, 2020), which blew up in Universal’s face. The film made $223M on a budget of $175M, making the film one of the biggest box office bombs and losing Universal $100M. The extremely high budget killed the film’s chances of success to begin with. Either this film shouldn’t have been made or it should’ve been animated, similar to Universal's Cats (which also bombed).
The Turning - This is the film that got people TURNING away from the film and watching Bad Boys for Life instead. It makes sense as The Turning is said to be one of the worst films of 2020, alongside The Grudge (both the Grudge and the Turning got F Cinemascores). In terms of financially the film didn’t fare any better, making $19M on a budget of $14M, making this film an underperformance.
The Photograph - This romantic drama was just there when it came out. Sure, it got good reviews, but Sonic the Hedgehog came out the same day and topped the box office. The Photograph made $21M on a budget of $16M, making this film an underperformance. Theatrical romantic movies just aren’t getting as much traction now as they have before, unless it’s based on a book with a sizable audience to begin with, like Fifty Shades of Grey and Crazy Rich Asians. Universal’s slate up to the Photograph wasn’t looking too good. Fortunately, things were starting to turn around for Universal. We just couldn’t see it.
The Invisible Man - The Invisible Man was amazing. And many other people felt the same way. The film made $126M on a budget of $7M, which is a huge win for Blumhouse and Universal. While COVID-19 prevented the Invisible Man from being more profitable, the film still did well enough. If COVID-19 didn’t happen, I’d say the film would’ve made at least $80M domestically and could’ve possibly broke the $100M mark in the US and Canada. The film would’ve made at least $160M worldwide and could’ve possibly broke the $200M mark worldwide. Regardless, the Invisible Man is a success..
The Hunt - This film was unfortunate to release on March 13, 2020, alongside Lionsgate’s I Still Believe and Sony’s Bloodshot. The film was only around for one weekend in theaters before COVID-19 prevented the film from making any more money. The film only made $7M on a budget of $14M, which would mean that it lost money in normal circumstances. The question is: How well would the Hunt have done without COVID-19 ending its box office run right after opening weekend? The film was projected to make $8-11M on opening weekend. Let’s take the most optimistic number, $11M and consider that the opening weekend. I’d say the Hunt makes $30M domestically at most. Throw in about $5M from international markets (I don’t know how well this film will do outside of the US), and you get $35M worldwide on a budget of $14M. It would be an okay performance, but nothing to be proud of like the Invisible Man’s performance.
Trolls World Tour - This was the movie that pissed off movie theaters. It had a simultaneous release in theaters (mostly drive-in theaters) and on VOD. On a budget of $110M, it made $38M theatrically. While VOD sales aren’t made clear, it was reported by IndieWire that the film made about $150M from rentals. Let’s say in total, the film made about $190M on a budget of $110M, which means that the film didn’t do great, or at least as well as the original Trolls’ $347M. Sure, it broke records on VOD, but that doesn’t mean it was able to succeed like the original. Had Trolls World Tour released under normal circumstances, I think this film could’ve made $360M WW, more than the original.
The King of Staten Island - This was the second film that Universal also put on VOD, but this time exclusively. The film made $2.2M in theaters in countries that gave it a theatrical release. It was reported by the Hollywood Reporter that the film made about $40M for Universal. Let’s say in total, the film made about $42M on a budget of $35M. Regardless of where the film was released, I don’t think this film would’ve been able to be profitable for Universal. Comedy films haven’t done so well in recent years, and I really don’t see The King of Staten Island making at least $80M if it went theatrical.
Freaky - This is supposedly the first film under the Universal-AMC (and most recently Cinemark) deal where Freaky will be released exclusively in theaters for 17 days before also releasing on VOD. AMC and Cinemark are expected to make about 10% of Freaky’s VOD sales, but Freaky could still play in theaters after its VOD release if it’s successful enough. As of this post, the film has made $5.4M on a budget of $6M (should be able to hit $6M before the film’s second Friday). I’d say by the end of its run, the film would make at least $15M (at least theatrically), making this film profitable. The possible success of Freaky could convince other film studios to release any low budget films (maybe ones that cost $10M or less) in theaters sometime before the year ends.
2020 Films That Haven’t Been Released Yet
There are three films that haven’t been released yet that are still slated to come out in 2020: The Croods: A New Age, All My Life, and News of the World. Let’s see how well these films could do, assuming they stay in 2020.
The Croods: A New Age - It’s a Dreamworks Animation adventure comedy film directed by Joel Crawford and is the sequel to The Croods. With the pandemic still an issue, this will definitely make less than its predecessor. Even without the pandemic, the seven year gap is going to hurt the film. I’d say this film makes $60M DOM and $160M WW. Fortunately, Universal only spent $65M compared to $175M spent on the original Croods, or the film would’ve been a major box office bomb. The Croods: A New Age should be a moderate success for now. Under normal circumstances, I think the film would’ve made $150M DOM and $400M WW.
DISCLAIMER - This editorial will most likely not adapt based on future delays due to the COVID-19 pandemic. I’m detailing the current situation as it is as of November 21, 2020. I’m assuming that everything should be fine enough for All My Life to release theatrically on December 4, 2020.
All My Life - It’s a romantic drama film directed by Marc Meyers. This probably won’t make its money back during a pandemic. I’d say this makes $30M DOM and $40M WW, but that’s being very optimistic.
News of the World - It’s a western drama film directed by Paul Greengrass and stars Tom Hanks. The only places this film is getting a theatrical release is in the United States and China. I doubt China would give this western drama much attention, and I’m not entirely sure how the US will be by Christmas. Being very optimistic, the film should make $40M DOM and $50M WW.

2021

The next year is coming, and it’s time to look at what Universal has in store for everyone next year. I’ll try to keep it short (with a basic description of each one if necessary and how well it might do). The numbers I have won’t be accurate, so take it with a grain of salt.

The 355

It’s a spy film directed by Simon Kinberg. This seems like a movie that could bring moviegoers back to the theaters. I could see this being one of the first box office hits of 2021. I’d say this makes $110M DOM and $250M WW.

Nobody

It’s an action thriller film directed by Ilya Naishuller. Not much is known about the film, except that it stars Bob Odenkirk. This will do less than Universal’s previous film, The 355, and it’s okay to compare the two because they're both action films. I’d say this makes $80M DOM and $200M WW.

The Boss Baby: Family Business

It’s a comedy film directed by Tom McGrath and is a sequel to Dreamworks Animation’s The Boss Baby back in 2017. Reception of the previous film seems lukewarm, but the film somehow made $175M domestically and $528M worldwide. Dreamworks doesn’t have many properties to work with after Kung Fu Panda and How to Train Your Dragon finished their trilogy, so it makes sense that this would get a sequel. However, I see the film making slightly less than the first one as the first film seems more of a novelty than something that can successfully be replicated. I’d say it makes $160M domestically and $500M worldwide.

No Time to Die

It’s a spy film directed by Cary Joji Fukunaga and is the final 007 film starring Daniel Craig as James Bond. While there were rumors that No Time to Die could be sold off to streaming, let’s assume it doesn’t (and it most likely won’t). Along with The 355, it could be one of the first action films to bring people back into movie theaters. I’d say this makes $220M DOM and $1.07B WW, less than Skyfall but more than Spectre and every other James Bond film.

BIOS

It’s a science fiction drama film directed by Miguel Sapochnik. Not much is known about the film, except the plot which is about the last man on Earth going on a journey with his dog. This seems like it could be a moderate success. I’d say it makes $70M DOM and $150M WW.

Marry Me

It’s a romantic comedy film directed by Kat Coiro. Not going to lie, I was a little interested in the plot of this film, in which a well known singer decides to marry a stranger after realizing her partner is having an affair. I don’t expect this to do gangbusters, but it could do a little better than modern romantic comedies. I’d say this makes $40M DOM and $50M WW.

F9

It’s an action film directed by Justin Lin and is the ninth film in the mainline Fast & Furious franchise. It looks to be as crazy, if not crazier than the previous films. But that’s okay, as this seems like a fun popcorn flick that a lot of people will go out to see. I’d say this makes $240M DOM and $1.25B WW, slightly more than The Fate of the Furious, but not as much as Furious 7, which I doubt will ever be surpassed.

Spirit Untamed

It’s a Dreamworks animated film directed by Elaine Bogan and Ennio Torresan and is based on the Spirit Riding Free series and a sequel to Spirit: Stallion of the Cimarron. As long as the budget is low ($70M or below), I can see this being a moderate success. I’d say this makes $100M DOM and $150M WW.

Minions: The Rise of Gru

It’s a comedy film and is made by Illumination. Ever since The Secret Life of Pets 2, this film has become a little more like a wildcard. I don’t see this hitting $1B, with Despicable Me 3 barely being able to do so and the Minions craze mostly being dead. I’m sure this will decrease from Despicable Me 3, but it’s unknown by how much. Would it decrease by a few hundred or by half? I’d say this makes $220M domestically and $550M worldwide. Regardless, I don’t see this hitting $1B at all. I don’t think Universal should even make a Despicable Me 4. Minions: The Rise of Gru should be the last one in the series for now. Get another franchise Illumination.

The Forever Purge

It’s a dystopian action science fiction horror film directed by Everado Gout and is the final film in the Purge series. With the pattern that the Purge movies keep doing better, I’d say this one will follow that pattern, especially if it ends the series on a high note. I’d say this film makes $80M DOM and $150M WW.

Old

It’s a thriller film directed by M. Night Shyamalan. The poster of this film has me intrigued, despite not knowing the plot of the film. I don’t expect this film to do as well as Split or Glass, but as long as the movie is good, I can see this making $100M DOM and $220M WW.

Respect

It’s a biographical drama film directed by Liesl Tommy and is based on the life of Aretha Franklin. Music biopics have been on the rise since Bohemian Rhapsody hit theaters in 2018. I’d expect this film to perform similarly to Rocketman. With that in mind, I’d say this makes $110M DOM and $210M WW.

Candyman

It’s a supernatural slasher film directed by Nia DaCosta and is a sequel to Candyman (1992). As a sequel, it shouldn’t share the same name as the first film, but that’s just me. With Jordan Peele’s production company attached to this film, I could see this film doing a lot better than the 1992 film. I’d say this film makes $70M DOM and $120M WW.

The Bad Guys

It’s a Dreamworks animated heist comedy film directed by Pierre Perifel. Not much is known about this film except the plot, which is about a group of misunderstood villains that try to be better. I think this film can be a success and will make similar numbers to Abominable. I’d say this makes $80M DOM and $200M WW.

The Addams Family 2

It’s a black comedy film directed by Conrad Vernon and Greg Tiernan and is a sequel to 2019’s The Addams Family. The first one did surprisingly well, and I expect the second one to do slightly better. I’d say this makes $120M DOM and $250M WW.

Halloween Kills

It’s a slasher film directed by David Gordon Green and is the second film in the Halloween 2018 trilogy. This one looks to follow the same footsteps that Halloween 2018 did, which is a good thing. I’d say this makes $170M DOM and $270M WW.

Sing 2

It’s a musical comedy film directed by Garth Jennings and is the sequel to Illumination’s Sing. The five year gap from 2016 to 2021 may come to the film’s detriment but not by a lot. Regardless, I don’t see this film surpassing its predecessor, especially seeing The Secret Life of Pets 2 dropping significantly from the original’s $876M to the sequel’s $430M. Sing 2’s drop won’t be as brutal as The Secret Life of Pets, but I wouldn’t expect an increase. I’d say this makes $250M DOM and $600M WW.

If The Film Needs To Be Rescheduled, Where Should They Move To?

All My Life - Should move from December 4, 2020 to January 8, 2021
News of the World - Should move from December 25, 2020 to January 29, 2021
The 355 - Should move from January 15, 2021 to February 19, 2021 (Replacing Nobody)
Nobody - Should move from February 19, 2021 to March 19, 2021
The Boss Baby: Family Business - Should move from March 26, 2021 to May 21, 2021 (Replacing Spirit Riding Free)
No Time to Die - Should move from April 2, 2021 to May 28, 2021 (Replacing F9. I hope this film doesn’t move again. MGM has no time to die)
BIOS - Should move from April 16, 2021 to June 4, 2021 (Replacing Spirit Untamed)
Marry Me - Should move from May 14, 2021 to June 18, 2021
Spirit Untamed - Should move from June 4, 2021 to July 9, 2021 (Replacing The Forever Purge)
F9 - Should move from May 28, 2021 to July 16, 2021
The Forever Purge - Should move from July 9, 2021 to August 13, 2021
Old - Should move from July 23, 2021 to August 27, 2021 (Replacing Candyman)
Respect - Should move from August 13, 2021 to September 17, 2021 (Replacing The Bad Guys)
The Bad Guys - Should move from September 17, 2021 to October 1, 2021
Candyman - Should move from August 27, 2021 to October 8, 2021
The Addams Family 2 - Should move from October 8, 2021 to October 15, 2021 (I can see Universal trying to keep this film in October, and I doubt Universal would want to push this film back to 2022 unless it’s really necessary)
Halloween Kills - Should move from October 15, 2021 to October 22, 2021 (Like with The Addams Family 2, Universal will try to keep this film in October. Hopefully it doesn’t get pushed back again to 2022 unless it’s really necessary)
Minions: The Rise of Gru - Should move from July 2, 2021 to December 22, 2021 (Replacing Sing 2, but I’m sure Universal will try to keep this release date unless the movie theater industry is still uncertain by May)
Sing 2 - Should move from December 22, 2021 to July 1, 2022
Thoughts on 2021 Slate - Universal’s 2020 Slate walked so Universal’s 2021 Slate could run. And run it will. Universal is going all out with this 2021 Slate. The Boss Baby 2, No Time to Die, F9, Spirit Untamed, Minions: The Rise of Gru, The Forever Purge, The Addams Family 2, Halloween Kills, and Sing 2 are all a part of strong franchises that Universal has (No Time to Die and The Addams Family 2 has United Artists Releasing distributing the film domestically, but still). I believe Universal will have a strong 2021. The 355 could hypothetically be a new franchise for Universal, which is what Universal needs for the future after Jurassic World, Fast & Furious, and Minions are done. Speaking of the future, let’s see what Universal’s future is.
Universal on Streaming - Peacock was released on July 2020. It's free with ads and $5 without ads. I think it's a good service, but I still see Universal pulling films from the service from time to time instead of just keeping it there like with Disney+.
The Future - The mainline Fast & Furious series will end after two more installments. A female-led Fast & Furious and a Hobbs & Shaw sequel are currently in development, but they probably won’t be released until as early as 2023. Halloween Kills will get a sequel in the form of Halloween Ends, which is meant to be the last Halloween film in a while. Universal and Illumination are partnering with Nintendo to make a Mario film, which I’m cautiously optimistic about. After 2022, it seems like Universal doesn’t have any much strong franchises to rely on. Jurassic World: Dominion is said to be the last Jurassic World film (for now, but I’d expect there to be at least a five year gap before another Jurassic Park film). Minions: The Rise of Gru will most likely be the last Despicable Me film in a while and it should be. I know a Despicable Me 4 is in development, but I really think Universal shouldn’t make the film in order to not milk the franchise too dry. Universal’s best bet at new franchises will most likely come from Nintendo. If the Mario film is a critical and financial success, I’m sure Universal would want to make sequels to the Mario film and make other films based on Nintendo franchises (I’m assuming that Nintendo would keep partnering with Universal to make films from other Nintendo franchises, especially since they are partnering with Universal for Super Nintendo World). Video game franchises like The Legend of Zelda and Metroid (I’d love to see that) could possibly become films.

Media Merger/Acquisition Predictions for 2021 and beyond

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Park MGM & NoMad Las Vegas Officially Reopen As The Strip

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Wrestling Observer Rewind ★ May 16, 1988

A Look Into Universal 2021: These Movies Won't Dolittle at the Box Office

The Current Situation of Universal Pictures

2020

2021

The 355

Nobody

The Boss Baby: Family Business

No Time to Die

BIOS

Marry Me

F9

Spirit Untamed

Minions: The Rise of Gru

The Forever Purge

Old

Respect

Candyman

The Bad Guys

The Addams Family 2

Halloween Kills

Sing 2

If The Film Needs To Be Rescheduled, Where Should They Move To?

Media Merger/Acquisition Predictions for 2021 and beyond

Hasbro acquires MGM

Comcast acquires Electronic Arts (EA)

Microsoft acquires Netflix

Amazon acquires Ubisoft

ITV plc acquires Lionsgate

Verizon acquires Hearst('s media assets)

Liberty Global acquires ErosSTX

??? acquires AMC Networks

??? acquires A24

??? acquires Activision Blizzard

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MGM Casinos Won't Open Till 2021? 5/13/2020 Update