Sony is banking on its anime streaming service, Crunchyroll, to fuel growth as the demand for anime continues to surge worldwide, according to Tony Vinciquerra, CEO of Sony Pictures Entertainment (SPE).
Crunchyroll as a Growth Driver
During a recent strategy briefing, Vinciquerra highlighted Crunchyroll as the primary growth engine for SPE in the coming years. Despite Sony’s renowned presence in movies, games, and music, its anime arm, powered by Aniplex and Crunchyroll, holds significant potential, with Crunchyroll boasting 13 million subscribers globally.
Expanding Anime Market
The proliferation of the internet and streaming platforms has democratized access to anime, propelling its popularity beyond Japan’s borders. Major entertainment companies worldwide are capitalizing on this trend, targeting popular anime franchises to cater to a global audience.
Strategic Expansion
Crunchyroll is poised for expansion in Southeast Asia and India through Amazon Channels, leveraging the platform to broaden its reach and engage with new audiences. With the anime market projected to reach $60 billion by 2030, Crunchyroll’s strategic moves align with Sony’s growth objectives.
Sony’s Content Strategy
Sony’s emphasis on content ownership underscores its strategy to bolster its intellectual property (IP) portfolio and expand its product offerings. While Sony lacks a general entertainment streaming service, it positions itself as an independent content provider, leveraging its diverse content library amidst industry disruptions.
Exploring Acquisition Opportunities
Recent reports suggest Sony’s interest in acquiring the assets of U.S. media company Paramount Global, signaling its intent to enrich its franchise lineup. Vinciquerra emphasized Sony’s strategy of acquiring more IP and expanding its content library to capitalize on emerging opportunities.
Adaptation and Flexibility
Sony’s decision to scrap the planned merger with India’s Zee Entertainment in January underscores its adaptive approach to investment strategies. Vinciquerra hinted at exploring alternative options, reflecting Sony’s commitment to navigating the evolving media landscape.
