Sony acquires anime streaming service Crunchyroll for $1.18 billion

Sony has been eyeing the anime platform Crunchyroll for some time and planned to invest a lot of money to acquire the service. Now, Sony has officially acquired AT&T's anime streaming platform Crunchyroll for $1.18 billion.

Sony is no stranger to anime, and the actual deal to acquire Crunchyroll was done through Sony's Funimation Global Group, which was a joint venture between Aniplex and Funimation, subsidiaries of Sony Pictures Entertainment and Sony Music Entertainment, in 1994.

“The Crunchyroll team has not only grown the Crunchyroll brand, but has also built a passionate community of anime fans,” WarnerMedia Chief Revenue Officer Tony Gponcalves said in the statement. “Crunchyroll’s success is a direct result of the company’s culture and respect for fans.”

“Through our outstanding partners at Funimation, Aniplex and Sony Music Entertainment, we have a deep understanding of this globally popular art form, and we are well positioned to deliver premium content to audiences around the world,” said Tony Vinciquerra, Chairman and CEO of Sony Pictures Entertainment. “Together with Crunchyroll, we will create an even better experience for fans and more opportunities for creators, producers and publishers in Japan and beyond. Funimation has been at this for more than 25 years, and we look forward to continuing to leverage the power of creativity and technology to succeed in this fast-growing entertainment space.”