Sony announced it has reached an agreement to buy the anime business Crunchyroll from AT&T and WarnerMedia for $1.175 billion.
The animation business has been thriving recently on the record-breaking success of the Japanese animated film “Demon Slayer” – co-distributed by Sony’s music unit Aniplex Inc.
Benefit
The deal will give Sony access to Crunchyroll’s 3 million paying subscribers across more than 200 countries and regions.
It will also help Sony to compete more globally with entertainment giants such as Netflix.
Intermediary
Sony is making the acquisition through Funimation Group, a joint venture between Sony Pictures Entertainment and Sony Music Entertainment’s subsidiary, Aniplex.
Consumer base of Anime
The anime service has more than 3 million subscription-video-on-demand subscribers and 90 million registered users.
Comment from CEO
Tony Vinciquerra, ” The firm had already developed a deep understanding of this global artform through its own anime streaming service Funimation, which it will combine with Crunchyroll.
“Together with Crunchyroll, we will create the best possible experience for fans and greater opportunity for creators, producers and publishers in Japan and elsewhere.”
“We look forward to continuing to leverage the power of creativity and technology to succeed in this rapidly growing segment of entertainment.”
Similar event in past
Sony bought Funimation in 2017 for about $143 million.
Press the Bell Icon for notifications of all updates.
