Anime distribution site 'Crunchyroll' aims at India for further growth
Crunchyroll Eyes India as Japanese Anime Becomes $20 Billion Industry - Bloomberg
https://www.bloomberg.com/news/articles/2023-07-13/crunchyroll-eyes-india-for-growth-as-japanese-anime-becomes-20-billion-industry
Crunchyroll was founded in 2006 by Kun Gao, a graduate of the University of California, Berkeley, and his classmates. It was in 2008 that we started full-scale business, and about how we established the business model, CEO Kun Gao and President of the Japanese corporation Vincent Shortino talked at the Tokyo International Anime Fair 2012 I've been there before.
After that, it received investment from venture capitalists such as video producer Peter Chernin, and after being under the umbrella of AT & T, it has been under the umbrella of Sony since 2020. The purchase price by Sony is $ 1.2 billion (about 167 billion yen).
In the past, it seems that the business of distributing Japanese animation was regarded as a 'niche industry', but now it is a business of 20 billion dollars (about 2.78 trillion yen).
Crunchyroll has more than 100 million registered users, of which 11 million are paid members. Although this number surged due to the 2020 new coronavirus pandemic, Crunchyroll seems to be looking at India as a growth market, as growth in the Western market is still slowing.
One of the reasons India attracts attention is that China, which is also a huge market, is a closed market. For this reason, besides Crunchyroll, Amazon and Netflix are also looking to India, and it is expected that a fierce battle will be fought in the future.
Crunchyroll is already competing by lowering its price in India to about $1 a month (about 139 yen), which is a tenth of the middle range price in the United States. Ironically, the biggest rival in India is a pirated site, Crunchyroll CEO Rahul Purini said, ``If we do our job correctly, we can draw fans into the official website. , and work with Sony Pictures and other partners to use legal means to communicate with fans and combat piracy.'
Regarding the future of Crunchyroll, a Goldman Sachs analyst estimated that 'Crunchyroll's share of the video business will be 1% in the fiscal year ending March 2023, but will increase to 36% in five years.' Given the continued growth of Japanese anime overseas, and assuming that demand will grow outside of North America, we expect Crunchyroll's paying membership to increase.
In addition, research company Omdia also predicts that the global anime viewership will increase in both movies and distribution. 'Demon Slayer: Kimetsu no Yaiba' and 'Jujutsu Kaisen' are doing well, and analysts predict that 'Japanese animation is more valuable overseas than in Japan, and this growth will continue.'
According to Bloomberg, the box office revenue of animated movies in North America has increased greatly in recent years.
In addition, Prini CEO welcomes the existence of rivals such as Netflix, Amazon, and Disney as 'raising the number of anime viewers.'
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