AT&T Closes $1.175 Billion CrunchyRoll Sale to Sony

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AT&T moves further away from the video biz with divestment of thriving anime-focused niche SVOD service

crunchyroll
(Image credit: Crunchyroll)

AT&T has closed its $1.175 billion sale of anime-focused subscription streaming service CrunchyRoll to Sony. 

CrunchyRoll just passed the 5 million subscriber threshold, with some of those customers paying as much as $7.99 for the premium no-ad tier. The service, which also has free ad-supported iterations, has 120 million users. 

AT&T, which just closed the spin-off of its pay TV business, and is the process of spinning off WarnerMedia, announced the sale of CrunchyRoll back in December, part of an overall push to get back to the core business of connectivity and 5G. 

““Crunchyroll adds tremendous value to Sony’s existing anime businesses, including Funimation and our terrific partners at Aniplex and Sony Music Entertainment Japan,” said Tony Vinciquerra, chairman and CEO of Sony Pictures Entertainment, in a statement. “With the addition of Crunchyroll, we have an unprecedented opportunity to serve anime fans like never before and deliver the anime experience across any platform they choose, from theatrical, events, home entertainment, games, streaming, linear TV -- everywhere and every way fans want to experience their anime. Our goal is to create a unified anime subscription experience as soon as possible.”

Daniel Frankel
Daniel Frankel

Daniel Frankel is the managing editor of Next TV, an internet publishing vertical focused on the business of video streaming. A Los Angeles-based writer and editor who has covered the media and technology industries for more than two decades, Daniel has worked on staff for publications including E! Online, Electronic Media, Mediaweek, Variety, paidContent and GigaOm. You can start living a healthier life with greater wealth and prosperity by following Daniel on Twitter today!