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Sony reportedly buying Crunchyroll for nearly $1 billion

The anime streaming service may be Sony's latest acquisition.

Donovan Erskine

October 30, 2020 1:25 PM

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Sony is a major corporation with several different divisions and subsidiaries. If reports are true, it looks like the company will be adding a large name to its catalogue, as word says that Sony will be buying Crunchyroll, the anime streaming service for a price tag of nearly $1 billion. This news comes ahead of the PlayStation 5 launch, but isn’t really related to the next-gen console.

According to a report from Nikkei Asia, Sony entered exclusive negotiations to purchase Crunchyroll earlier in 2020. Now, it looks like the two sides are close to finding a deal, and Sony will end up paying more than 100 billion yen for the streaming service, which translates to just under $1 billion USD.

With over 3 million subscribers, Crunchyroll has become a must-have streaming service for anime fans. The platform has become particularly popular in the west, as it can be harder to get access to premiere anime titles. With the news of this acquisition, conversation has stirred in regards to what this could mean for the PlayStation 5. Interestingly enough, Sony recently revealed the lineup of entertainment apps that would be available on the PS5 at launch. Crunchyroll was not mentioned in this post, though the company came out separately to confirm it would be available on launch day.

Of course, some are speculating if this means the Crunchyroll app will not be making its way to the Xbox Series X. It’s difficult to tell, as this acquisition seems like a move by Sony to better compete with Netflix and Hulu, rather than score another exclusive for its next-gen console. Sony and Crunchyroll are yet to officially announce the purchase, but we expect to hear something soon. Stick with us here on Shacknews for the latest news and updates in the business tech world.

Donovan Erskine

News Editor

Donovan is a journalist from Maryland. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge film fanatic and will talk with you about movies and games all day. You can follow him on twitter @Donimals_