5 Game-Changing Insights from My Conversation with Funko's Lucy Salisbury
I recently launched Season 2 of the Born to License podcast with an incredible first guest - Lucy Salisbury, VP of Licensing EMEA and APAC at Funko.
With over 1,000 active licenses and a career spanning from finance to the epicenter of pop culture licensing, Lucy shared insights that every licensing professional needs to hear.
Here are five key takeaways from our conversation that reveal how the licensing landscape is evolving:
1. Data-Driven Decision Making is Everything
Gone are the days of relying solely on gut instinct or licensor promises. Lucy revealed how Funko uses a sophisticated approach to evaluate potential licenses, explaining that her team analyzes multiple factors including fan demand, content pipeline opportunities, retailer interest, and cultural heat moments picked up from social media.
Funko's approach combines traditional licensing evaluation with modern analytics. Her social team monitors Google Trends, Amazon searches, and TikTok data to identify emerging opportunities. As Lucy put it:
"We try to have a kind of more data approach to it. We're not just .... listening to the stories that the licensed source tell us."
The lesson: Successful licensing today requires a balance of data analytics and human insight. Invest in social listening tools and learn to read the digital signals that predict real-world demand.
2. Anime Was the Canary in the Coal Mine - What's Next?
While some in the industry were predicting anime's mainstream potential around 2020, Lucy's perspective came from observing regional adoption patterns - seeing how North America embraced anime earlier than Europe, then watching European markets catch up. She noted how territories like the UK, Germany, Spain, and Italy eventually backed anime in a big way, though she acknowledged that she wasn't alone in recognizing this trend.
The key was recognizing passionate, engaged communities before they went mainstream and understanding how fandoms migrate across cultures.
The lesson: Look for passionate, engaged communities in specific regions or demographics. Today's niche could be tomorrow's mainstream. Pay attention to cosplay trends, convention attendance, and cross-cultural content consumption patterns.
3. The Sports Licensing Goldmine is Real
One of Lucy's most surprising successes came from an area Funko hadn't heavily explored: sports licensing. She described how her personal efforts to grow sports genres became "super successful for Funko," discovering strong demand for Formula 1 drivers like Max Verstappen and Lewis Hamilton, as well as football stars like Messi and Lewandowski in Pop form.
This revelation challenges the assumption that sports fans and pop culture collectors are separate markets.
The lesson: Don't underestimate any fandom. Sports, music, lifestyle brands - passionate communities exist everywhere, and they want products that let them express their identity.
4. Direct-to-Consumer is the New Licensing Launchpad
For new licensors breaking into the industry, Lucy emphasized the importance of building strong fan relationships first. She explained how Funko often works with licensors who have cultivated engaged fan communities that are actively requesting products.
The traditional model of securing major retail partnerships upfront is increasingly difficult. Instead, proving demand through direct sales, social engagement, and community building creates a foundation that can later expand into retail.
The lesson: Build your fanbase before you build your licensing program. Engaged communities with proven purchasing behavior are more attractive to licensees than speculative retail projections.
5. It's Still a Relationship Business at Scale
Perhaps most importantly, despite managing over 1,000 licenses across global markets, Lucy emphasized how personal the licensing business remains. She described how every licensor has unique brand guidelines, review processes, and internal perspectives that Funko needs to understand and respect.
Trust becomes crucial in approval processes - some partners give Funko significant creative latitude while others require detailed approval of every packaging element. Lucy noted how these relationships typically improve over time as trust builds through consistent execution.
The lesson: Never lose sight of the human element. Whether you're managing one license or one thousand, invest in relationships, understand your partners' businesses, and never burn bridges in this small industry.
Looking Ahead
Lucy's journey from finance to pop culture licensing demonstrates how diverse backgrounds can bring fresh perspectives to our industry. Her data-driven approach, combined with genuine passion for fandoms, has helped Funko become the licensing powerhouse it is today.
As we see the licensing landscape continue to evolve— -with new platforms, emerging fandoms, and changing consumer behaviours - these insights provide a roadmap for staying ahead of the curve.
What resonated most with you from Lucy's insights? I'd love to hear your thoughts on how these trends are playing out in your corner of the licensing world.
Ready to Tune In to Season 2 of Born to License?
New episodes drop each Monday. This is your chance to understand the industry that touches every aspect of consumer culture - from the toys your kids love to the branded experiences that define our entertainment landscape.
🔔 Subscribe now and hit the notification bell so you never miss an episode that could change how you think about business, creativity, and commerce.
Perfect for:
Entrepreneurs seeking untold success strategies
Brand managers navigating complex licensing deals
Creative professionals monetizing their IP
Business enthusiasts fascinated by billion-dollar industries
Anyone curious about the stories behind their favorite products
The licensing world's best-kept secrets are about to be revealed. Don't miss out.
Born to License Season 2 — Because every product has a story, and every deal has a human behind it.
#Licensing #BusinessPodcast #BornToLicense #Entrepreneurship #BrandManagement #IPLicensing #ProductDevelopment #BusinessStrategy
Ready to master the fundamentals of licensing and dramatically improve your chances with major IP holders? Join the Learn to License course today and get the complete roadmap to licensing success.
Interested in learning more about licensing? Click here →
POPULAR ARTICLES:
