AT&T to sell anime streamer Crunchyroll for about $1.2 billion [Los Angeles Times]
Anime streaming service Crunchyroll is getting a new owner.
On Wednesday, AT&T said it was selling the San Francisco-based streamer to Sony’s Funimation Global Group for $1.175 billion.
The acquisition follows the sale of other smaller subscription streaming services as media companies aim to expand their foothold in the marketplace.
Crunchyroll has more than 3 million subscribers, with a library that has more than 1,000 titles including the horror series “Jujutsu Kaisen” and “The God of High School,” a tournament competition. In addition to streaming videos, Crunchyroll also offers games, events and merchandise. Subscriptions start at $7.99 a month and consumers can also choose to watch for free with ads. The service has 90 million registered users.
Sony Corp Ord (NYSE:SNE), AT&T Inc (NYSE:T) - Sony Inks $1 2B Deal To Acquire AT&T s Anime Unit Crunchyroll
benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
AT&T to Sell Crunchyroll to Sonys Funimation Global Group
financialbuzz.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialbuzz.com Daily Mail and Mail on Sunday newspapers.
AT&T Hives Off Crunchyroll to Sony PUBLISHED BY
AT&T announced Wednesday that it is selling off its anime streaming service Crunchyroll to Sony’s Funimation Global Group for $1.175 billion.
There have been a spate of mergers and acquisitions among streaming media companies as they consolidate in a bid to expand their market presence. Over the last five years, the number of services that stream video over the internet has more than doubled to 271, according to research firm Parks Associates.
The entry of big-name media companies into streaming means an end of the road for some, and for others it is a news opportunity. As services compete for consumer attention and wallets, smaller players feel the pressure due to lack of cash reserves to spend on content.
AT&T Inc agrees to sell Crunchyroll anime business to Sony Corp s Funimation Global Group, LLC
foxbusiness.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from foxbusiness.com Daily Mail and Mail on Sunday newspapers.