EXCLUSIVE: Warner Bros has optioned rights to Funko, and Warner Animation Group will develop and produce a film based on the distinctive collectors figures. Lloyd Taylor has been set to write the script.

For close to 20 years, Warner Bros and Funko have partnered on licensed collectibles from beloved franchises including Batman and Harry Potter. Taking an option on motion picture rights, Warner Bros moves its Funko relationship to a new level.

Allison Abbate, Executive VP of Warner Animation Group, will manage the partnership on behalf of the studio. Warner Animation Group’s upcoming releases include Space Jam 2, Scoob and Tom & Jerry.

Abbate said the studio is excited to bring the characters to life on movie screens. “Their fresh take on pop culture make these figurines incredibly appealing to fans of all ages,” she said.

Warner Animation Group has Oscar-nominated director and designer Teddy Newton crafting the storyline, and Disney Animation veteran director Mark Dindal.

Said Funko CEO Brian Mariotti: “We’re thrilled for this opportunity and are committed to make an amazing Funko movie that stands on its own merit. This isn’t about selling toys or building a brand. The team at Warner Animation Group have a unique vision of what the first film should be and we are extremely excited to take this journey alongside them.”