The much speculated acquisition is now confirmed! Sony Pictures Entertainment’s Funimation announced lately that AT&T and WarnerMedia have sold Crunchyroll to them for $1.175 billion.
With this move, the anime industry is integrated in a significant way. Now that Sony owns both Crunchyroll and Funimation, it’ll have a powerful hold over anime in the US. This comes at a time when other media companies like Netflix are investing heavily in both acquired and original anime content.
Commenting on this development, Sony Pictures Entertainment chairman and CEO Tony Vinciquerra stated, “We are proud to bring Crunchyroll into the Sony family. Through Funimation and our terrific partners at Aniplex and Sony Music Entertainment Japan, we have a deep understanding of this global artform and are well-positioned to deliver outstanding content to audiences around the world. Together with Crunchyroll, we will create the best possible experience for fans and greater opportunity for creators, producers and publishers in Japan and elsewhere. Funimation has been doing this for over 25 years and we look forward to continuing to leverage the power of creativity and technology to succeed in this rapidly growing segment of entertainment.”
This move actually grows their influence over Japan’s anime industry. By adding Crunchyroll’s 70 million free members and three million paid subscribers to their portfolio of anime streaming and production companies, Sony intends to reap the rewards of anime’s growth overseas, which grew to nearly over ¥2.1 trillion (about $19 billion) total revenue in 2017 and 2018.
“The Crunchyroll team has done an extraordinary job of not only growing the Crunchyroll brand but also building a passionate community of anime fans. Crunchyroll’s success is a direct result of the company’s culture and commitment to their fans. By combining with Funimation, they will continue to nurture a global community and bring more anime to more people. I’m incredibly proud of the Crunchyroll team and what they have been able to accomplish in the digital media space in such a short period of time. They’ve created an end-to-end global ecosystem for this incredible art form,” said WarnerMedia CRO Tony Goncalves.
Crunchyroll general manager Joanne Waage further added, “We are excited to embark on this new journey. Crunchyroll has built a world-class brand with a passionate fan-base of over three million subscribers, 50 million social followers and 90 million registered users. These amazing fans have helped to propel anime into a global phenomenon. Combining the strength of the Crunchyroll brand and the expertise of our global team with Funimation is an exciting prospect and a win for the incredible art form of anime.”
AT&T purchased Crunchyroll as part of Otter Media in 2018 from the Chernin Group for a reported sum of more than $1 billion, according to the New York Times. The sale gave AT&T ownership over a number of digital properties.
Funimation Global Group CEO Colin Decker noted, “The union of Funimation and Crunchyroll is a win for anime fans around the world that will elevate the art and culture of this medium for decades to come. Combining these two great companies will be a win for fans, and enable us to compete at a truly global scale. I am honored to welcome the wonderful Crunchyroll team to a shared mission—to help everyone belong to the extraordinary world of anime.”