Funimation acquires Crunchyroll for USD$1.175 billion

Sony’s Funimation has acquired anime streaming service Crunchyroll from AT&T for USD$1.175 billion, both Sony and Crunchyroll announced tonight.

Funimation, a joint venture between Sony Music Entertainment (Japan) and Sony Pictures Entertainment, will get Crunchyroll’s audience of 3 million paid subscribers and 90 million users from more than 200 countries around the world.

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

“We are excited to embark on this new journey. Crunchyroll has built a world-class brand with a passionate fan-base of over 3M subscribers, 50M social followers and 90M registered users. These amazing fans have helped to propel anime into a global phenomenon,” said Joanne Waage, general manager at Crunchyroll. “Combining the strength of the Crunchyroll brand and the expertise of our global team with Funimation is an exciting prospect and a win for the incredible art form of anime.”

AT&T has been attempting to unload companies after its big purchase of Time Warner for USD$109 billion. It tried to sell Warner Bros. Interactive, which includes studios such as Rocksteady, NetherRealm and many others. Meanwhile, Sony is becoming a very strong contender in the world of anime with its purchase of anime distributors in Europe (Wakanim) and Australia (Madman Anime). Now that Funimation acquires Crunchyroll, will Funimation become a stronger competitor for Netflix?

[Sources]: Sony Pictures: AT&T to Sell Crunchyroll to Sony’s Funimation Global Group. Crunchyroll: Crunchyroll and Funimation. Funimation: Funimation to Acquire Crunchyroll: Fans Win!.