Sony buys Anime Streaming Service Crunchyroll from AT&T for $1.18 Billion

American multinational conglomerate holding company AT&T Inc. is selling its anime video unit Crunchyroll for $1.18 billion to Sony. Crunchyroll will become a part of Sony Corp.’s Funimation Global Group. The deal is reportedly a part of a drive by the telecom giant to unload assets and pay the debt down. The cash transaction is subject to regulatory approvals and AT&T hopes to complete the deal as soon as possible but didn’t confirm the time frame. 

The sale of Crunchyroll is part of the rebuilding process of WarnerMedia, a business AT&T acquired in 2018 in its $85 billion purchase of Time Warner. Sony and AT&T were in talks for months about the deal as reported earlier by Bloomberg. AT&T made a more than $1 billion purchase when they acquired Crunchyroll back in 2018. 

Crunchyroll was founded back in 2006, it is a premier anime direct-to-consumer service with more than 3 million Subscription Video On Demand (SVOD) subscribers and growing. It serves 90 million registered users across more than 200 countries through other media and products, including mobile games and merchandise. Crunchyroll employs about 550 people, with 250 in the U.S., mostly residing in San Francisco and Los Angeles, and about 200 in Europe. 

See the source image

After the purchase, Sony aims to broaden distribution for Crunchyroll’s content partners and wants to work on creating new offerings for anime fans.

“We have a deep understanding of this global art form and are well-positioned to deliver outstanding content to audiences around the world,” Tony Vinciquerra, chairman and chief executive officer of Sony Pictures Entertainment, said in the statement according to Bloomberg. “Together with Crunchyroll, we will create the best possible experience for fans and greater opportunity for creators, producers, and publishers in Japan and elsewhere.”

Atsushi Osanai, a professor at Waseda Business School has opined that the deal also makes it easier for Sony to promote its music rather than just anime as the theme music of the cartoons is often created by the company’s artists.

Under WarnerMedia chief Jason Kilar, AT&T’s media operations are focusing on HBO Max as the company shocked Hollywood last week after they announced to put all of Warner Bros.’s major movies next year on HBO Max at the same time they hit theaters. AT&T hopes the $15-a-month streaming service that launched in May will compete against the big boys that are Netflix Inc. and Walt Disney Co.’s Disney+.

SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

More like this

Solo Leveling Season 2 Finale

Solo Leveling Season 2 Finale: The Monarchs Revealed as...

Solo Leveling Season 2 Finale: The screen darkens. A chill runs through the air as frost creeps...
Kaiju No. 8

Kaiju No. 8: From Manga Sensation to Anime Phenomenon...

In a world where giant monsters threaten humanity’s existence, one unlikely hero rises from the ashes of...

The Big Bang Theory Spinoff: Stuart Fails to Save...

Stuart Fails to Save the Universe Release Date: The world of The Big Bang Theory is expanding...
Crunchyroll Spring 2025 Anime Calendar for Indian fans

Crunchyroll Spring 2025 Anime Calendar for Indian fans

Crunchyroll Spring 2025 Anime Calendar for Indian fans - CRUNCHYROLL SPRING 2025 ANIME SEASON: “FIRE FORCE” SEASON...
Crunchyroll acquires New Monster-Sized cinematic experience Kaiju No 8: Mission Recon and sets India theatrical date

Crunchyroll acquires New Monster-Sized cinematic experience Kaiju No 8:...

Kaiju No 8: Mission Recon - Adapted from the manga by Naoya Matsumoto, the omnibus film features...

LATEST NEWS

ISL 2024-25 Semifinal: Jamshedpur FC vs Mohun Bagan SG – Preview, Prediction and Where To Watch The Match LIVE

Jamshedpur FC will welcome Mohun Bagan Super Giant for the first leg of their Indian Super League (ISL) 2024-25 semi-final clash on Thursday. The...

Copa del Rey 2024/25 Semi-final: Atletico Madrid vs Barcelona – Preview, Prediction and Where to The Match Live

Atletico Madrid will face Barcelona in the second leg of their Copa del Rey semi-final at the Metropolitano Stadium. The tie is delicately balanced after...

Orange Cap in IPL 2025: Top 10 players with the most runs in IPL 2025 until Match 14 – RCB vs GT

Orange Cap in IPL 2025: Cricket lovers, gather 'round! The IPL 2025 fever is hitting new heights, and one of the most exciting sideshows...

TATA IPL Points Table 2025: Teams, Rankings, Wins, Losses until Match 14 – RCB vs GT

TATA IPL Points Table 2025: Hey, cricket fanatics! The IPL 2025 is absolutely buzzing right now, with fans like us glued to our screens...

Featured