Sony’s Funimation acquires Crunchyroll for $1.2B

Funimation acquired Crunchyroll, and the sale transaction is reportedly closed already. This information was announced by Sony Pictures’ chief executive officer, Tony Vinciquerra, on Monday, Aug. 9. The cost of the deal is $1.75 billion, and this has brought together two of the most popular anime sites around.

Crunchyroll was Sony’s Funimation’s rival, and now it has come together to create a big force that will be hard to beat by competitors in the anime market. The site with the world's largest collection of anime content has been sold by AT&T, and it was paid in cash by Funimation Global Group, a joint venture formed by Sony Pictures and Aniplex, a Sony Music Entertainment subsidiary.

Crunchyroll is a premier anime direct-to-consumer service within AT&T’s WarnerMedia segment, and now it has been added to the list of assets owned by Sony. According to Variety, the deal will combine Funimation and Crunchyroll, and this combination is predicted to create a powerhouse in anime. It was mentioned that there are also plans to launch a subscription service for the merged sites.

"We are very excited to welcome Crunchyroll to the Sony Group," Sony Group Corp. president and CEO Kenichiro Yoshida said in a press release. "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 added that with Crunchyroll joining the company, they will be able to offer unprecedented opportunities to serve fans of anime like never before. They are also looking to deliver a different kind of anime experience on any platform that anime lovers enjoy including games, streaming, home entertainment, theatrical and more.

Meanwhile, it was in December 2020 when it was first announced that Funimation was buying Crunchyroll. At that time, the sale was still pending regulatory approval, and now the deal is officially closed.