The Chernin Group, which manages and invests in businesses in the media, entertainment and technology sectors, has acquired a majority stake in Crunchyroll, a US-Japan global video streaming service for anime content. Crunchyroll’s senior management will maintain a significant stake in the company along with existing investor TV TOKYO. Financial terms of the transaction were not disclosed.
While founded in 2007 and based in California, with an office in Japan, Crunchyroll is all about Japanese animation. It has built the world’s premier over-the-top video service for Japanese anime content and is, according to Chernin, “one of the leading OTT and SVOD platforms online”.
The strategy of the company’s revenue stream since it features both a free, ad-supported online video offering as well as a subscription online video service to a targeted and passionate fan base in more than 160 countries.
TCG intends to work with Crunchyroll and its management team to grow the existing anime business and to use Crunchyroll as a platform to launch new non-anime channels across multiple different genres.
“We’re thrilled to partner with Crunchyroll,” said Peter Chernin, Founder and Chief Executive Officer of TCG. “The Crunchyroll founders and senior management team have accomplished two incredible things. One, they have built one of the leading online video companies in the industry. And, two they have created the best and largest community for anime video in the world.
“Our plan is to continue to grow the anime vertical as well as launch new channels in different genres. Online video is growing faster than any other sector within media, and we feel that with Crunchyroll, we have a fantastic, anchor platform.”
Yukio Kawasaki, General Manager of the Animation Division of TV TOKYO, said, “We have had a phenomenal relationship with Crunchyroll dating back to 2009 as both a content provider and an investor. Crunchyroll has opened up new markets and revenue streams to us. We welcome The Chernin Group to the Crunchyroll family and look forward to working with them and Crunchyroll management to continue this fantastic ride.”
The Chernin Group, is a privately held, independent media holding company founded by Peter Chernin and based in Los Angeles, California. TCG’s assets include Chernin Entertainment, which produces feature films and television programs; a majority stake in Hong Kong-based CA Media, which builds, manages and operates media, entertainment and technology businesses across Asia; and several strategic investments in digital media companies, which have included Pandora, Fullscreen, Base79, MiTú, Tumblr, Flipboard and Scopely. Providence Equity Partners LLC; Qatar Holding LLC; Victor Koo (founder and Chief Executive Officer of Youku) and Chengwei Capital; and other shareholders are strategic partners of and investors in TCG.