The anime streaming service has 5m subscribers and more than 120m registered users.
Sony Pictures Entertainment has completed its nearly $1.2bn acquisition of the anime streaming service, Crunchyroll, from AT&T.
The acquisition, which was first announced in December, brings Crunchyroll to Funimation, a joint venture between Sony Pictures and Sony Music’s Aniplex. With Crunchyroll housed under Funimation, Sony will now be able to expand its status in the anime industry and reach Crunchyroll’s 5m subscribers and over 120m registered users in more than 200 countries and territories.
Boasting over 1,000 anime titles and distribution rights for more than 30,000 episodes, Crunchyroll also comes with an extensive library and a gaming division that develops web and mobile games based on popular shows in English-speaking markets.
The deal provides the opportunity for Crunchyroll and Funimation to broaden distribution for their content partners and expand fan-centric offerings for consumers.
Speaking about the acquisition, Kenichiro Yoshida, Chairman, President and CEO of Sony Group Corporation, said: “We are very excited to welcome Crunchyroll to the Sony Group. Anime is a rapidly growing medium that enthralls and inspires emotion among audiences around the globe. The alignment of Crunchyroll and Funimation will enable us to get even closer to the creators and fans who are the heart of the anime community. We look forward to delivering even more outstanding entertainment that fills the world with emotion through anime.”
Tony Vinciquerra, Chairman and CEO of Sony Pictures Entertainment, added: “Crunchyroll adds tremendous value to Sony’s existing anime businesses, including Funimation and our terrific partners at Aniplex and Sony Music Entertainment Japan. With Crunchyroll and Funimation, we are committed to creating the ultimate anime experience for fans and presenting a unique opportunity for our key partners, publishers, and the immensely talented creators to continue to deliver their masterful content to audiences around the world. With the addition of Crunchyroll, we have an unprecedented opportunity to serve anime fans like never before and deliver the anime experience across any platform they choose, from theatrical, events, home entertainment, games, streaming, linear TV – everywhere and every way fans want to experience their anime. Our goal is to create a unified anime subscription experience as soon as possible.”
The purchase price for the transaction is $1.175bn, subject to customary working capital and other adjustments, and the proceeds were paid in cash at closing. AT&T expects to use the proceeds from this transaction to help support its debt reduction efforts, with plans to reach a net debt-to-adjusted EBITDA of below 2.5x by year-end 2023.