Former Pirated Anime Site Turns Into Sony's Global Money Maker

An anonymous reader shares a report: When top anime streaming platform Crunchyroll was first gaining popularity as a pirated-video site in the mid-2000s, Japanese animation was considered a niche form of entertainment, appealing mainly to enthusiasts known as otaku. Today, it's a $20 billion industry spanning streaming, games and merchandise, and the company's hit series, such as One Piece and Demon Slayer, have drawn millions of US and European subscribers. Crunchyroll, now owned by Sony Group, is setting its sights on India as a major growth market -- one that could help the industry further expand from a made-in-Japan subculture into a mainstream and global phenomenon. The company, founded in 2006 by graduates of the University of California at Berkeley, started off as an anime-sharing site. It eventually began streaming only legitimate content, helped by investment from venture capitalists including former News Corp. President Peter Chernin and ownership by AT&T's WarnerMedia. Now the largest anime-dedicated streaming platform in the world, it was bought by Sony in a $1.2 billion deal announced in 2020. Crunchyroll has more than 100 million registered members, including 11 million paid users, after rapid subscriber growth during the pandemic when people binge-watched exotic content. With growth in Western markets moderating, the anime giant is looking to India for its next breakthrough, according to President Rahul Purini.

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