Sony’s plan to acquire anime site Crunchyroll was first announced in December 2020. This anime site will merge with the already existing anime streaming site Funimation. The main goal of the acquisition is to unify the anime subscription experience under one roof.
The information reported that the acquisition was done for $1.175 billion. AT&T which owned Crunchyroll will use the funds to pay down the debt it amassed from its spending on streaming. AT&T has decided to focus on its core connectivity business. Sony plans to use the Crunchyroll service to broaden its already substantial anime streaming footprint.
Vinciquerra said that Crunchyroll adds tremendous value to Sony’s existing anime businesses, including Funimation and our terrific partners at Aniplex and Sony Music Entertainment Japan. The anime site has over 1,000 anime titles and distribution rights for more than 30,000 episodes. It comes with an extensive library and a gaming division that develops web and mobile games based on popular shows in English-speaking markets.