Sony Credits Crunchyroll for Driving Growth

Sony, opens new tab’s movies division head said Thursday that Crunchyroll will help the company capitalize on anime’s expansion outside Japan

“Over the next few years, Crunchyroll will be our primary growth driver at SPE,” Sony Pictures Entertainment (SPE) CEO Tony Vinciquerra stated during a strategy briefing.

Sony, a technology and entertainment conglomerate, is not only well-known for its film, video game, and music divisions, but it is also a juggernaut in the anime industry, with 13 million subscribers on Crunchyroll and Aniplex, the same companies that produced the “Demon Slayer” anime.

The proliferation of the internet and streaming services has expanded the accessibility of anime to a broader demographic, leading global entertainment corporations to emphasize acquiring renowned franchises.

A new tab interface enables users to access Crunchyroll’s streaming services via Amazon Channels, a platform that allows users to access the anime market via Amazon (AMZN.O). By 2030, the market is anticipated to have doubled to approximately $60 billion.

Sony does not provide a general entertainment streaming service, even though it has argued that being an independent content provider is advantageous in a sector where technological change is roiling.

Earlier this month, Reuters reported that Sony is interested in acquiring the assets of Paramount Global (PARA.O), an American media company that could expand its franchise portfolio.

“Our investment strategy is to have more intellectual property, more products, and more libraries to sell,” Vinciquerra responded when asked about the company’s financial approach.

A new tab indicates that Sony abandoned a proposed merger with Zee Entertainment (ZEE.NS) of India in January, which had the potential to generate a $10 billion enterprise.

“We are considering additional alternatives that might or might not emerge,” Vinciquerra said, declining to provide further information.