AT&T is Selling Crunchyroll to Sony’s Funimation for $1.175B USD

Marking the end of speculation, AT&T has announced that it has reached a deal to sell Crunchyroll to Sony Pictures Entertainment‘s Funimation Global Group.

The $1.175 billion USD agreement to be paid in cash will see Funimation, the joint venture between Sony Pictures Entertainment and Sony Music Entertainment (Japan) Inc.’s subsidiary, Aniplex, take over the anime-streaming service completely.

Founded back in 2006, Crunchyroll currently serves as the premier direct-to-consumer anime service with 90 million registered users and 3 million subscribers across more than 200 countries. The meeting of Crunchyroll and Funimation is expected to broaden distribution and expand video on demand, mobile games, manga and merchandise offerings.

“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,” said Tony Goncalves, Chief Revenue Officer, WarnerMedia. “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.”

“We are proud to bring Crunchyroll into the Sony family,” said Tony Vinciquerra, Chairman and CEO of Sony Pictures Entertainment. “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.”

In case you missed it, the fashion industry’s revenue is expected to drop by nearly 90 percent by the end of 2020.
Source: Read Full Article