Japan’s Sony said on Thursday that it has agreed to acquire American animation streaming giant Crunchyroll, which has more than 3 million paying users and a total transaction value of US$1.17 billion (approximately Rs 86 billion).
By purchasing anime, game and manga publishers from AT&T, Sony’s entertainment division hopes to strengthen its position in the global video streaming market and compete with companies that provide animation works such as Netflix and Hulu.
Crunchyroll was founded in 2006 and is the world’s largest online library of Japanese animation.
Sony Pictures Entertainment CEO Tony Vinciquerra stated that the company has developed a “deep understanding” of this global art form through its animation streaming service Funimation and will combine it with Crunchyroll .
He said: “Together with Crunchyroll, we will create the best experience for fans and provide more opportunities for creators, producers and distributors in Japan and other regions.”
“We look forward to continuing to use the power of creativity and technology to succeed in this rapidly growing field of entertainment.”
Sony’s popular Demon Slayer anime series recently produced by its Aniplex studio has achieved great success in Japan.
Movies based on this series were well received during the pandemic and became the second highest grossing movie in Japan’s history, with a box office revenue of 27.5 billion yen (approximately 19 billion rupees).
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