“Animation” deal worth $ 957 million

“Animation” deal worth $ 957 million
“Animation” deal worth $ 957 million

Sony Corporation is negotiating with AT&T to buy American Crunchyroll service to broadcast Japanese animation over the Internet for $ 957 million.

According to the Nikkei economic newspaper, Crunchyroll has 70 million subscribers worldwide, and its acquisition will allow the Japanese entertainment and electronics group to strengthen its competitiveness in the face of global companies such as “Netflix.”

Sony, which won the exclusive right to negotiate the purchase of Crunchyroll, hopes to harness this new channel to distribute its entertainment content of films and music.

A Sony spokesman declined to comment.

Sony bought Animation Productions, which has 1 million free subscribers, for Animation Productions, for $ 143 million in 2017.

The company is boosting its gaming and entertainment business as part of CEO Kenichiro Yoshida’s strategy to consolidate revenue streams that can mitigate the impact of equipment sales fluctuations.

Sony this week raised its forecast for annual earnings, as gaming activity continues to attract demand related to home stalemate, while the Japanese animated film “Demon Slayer” – which Sony Music Unit is participating in distributing – witnessed a strong public turnout at its launch in Japan. .

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