Chernin Group Buys Majority Stake In Crunchyroll For Nearly $100M
Chernin Group has acquired a majority stake in Crunchyroll for almost $100 million, according to AllThingsD. Crunchyroll is known for being an anime streaming video service that is popular in the U.S. Crunchyroll started out as a website where users shared anime that was translated into English illegally, but then they started to get their hands on the copyrights.
Now Crunchyroll has 15,000 hours of officially licensed content that is localized into multiple languages. Premium subscriptions costs between $5 to $12 per month. Crunchyroll has free and ad-support services that offers access to content only weeks after it premieres. Crunchyroll sells anime merchandise that is related to the content.
Crunchyroll has over 200,000 paying subscribers and their ad-supported services have over 8 million monthly viewers and 127 million monthly views around the world. Previous investor TV Tokyo will retain some stake in the company along with Crunchyroll CEO Kun Gao.