Brandfathers A Marketer's Guide to Licensing & Collabs
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Feb 23, 2026 Steve Starobinsky, Head of Partnerships at Pudgy Penguins and a 25-year licensing veteran in toys and partnerships. He walks through licensing mechanics like royalties and minimum guarantees. Conversations cover collabs versus traditional licenses, pitching IP holders, and why timing and an 18-month calendar matter. Also touches on brand humor, PR risks, and where to find high-value licensing opportunities.
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Valentine Plush Proved Pudgy Penguins Demand
- Steve Starobinsky described the Pudgy Penguins Valentine's plush bouquet that created a line of 700 people in NYC as a consumer validation moment.
- He used that viral product to prove demand and open retail conversations with Walmart and Target by showing real-world activation success.
Always Account For Minimum Guarantees
- Do expect and negotiate a minimum guarantee (MG) because licensors use MGs to secure predictable revenue and force licensees to take the product seriously.
- Steve explained MG math: licensors set MGs based on category forecasts and a typical royalty (10–20%), making MGs the primary structural unit of licensing deals.
Run Licensing Like A Sales Funnel
- Treat licensing and collabs as a sales funnel with stages; plant long-lead deals first and pepper in short-term collabs for momentum.
- Steve tracked 296 deals and used an 18-month rolling calendar to layer long retail targets and surprise drops.