Chernin Group Buys Majority Stake in Crunchyroll

LOS ANGELES: The Chernin Group (TCG) has purchased a majority stake in Crunchyroll, a global video streaming service for anime content.

Crunchyroll's management will maintain a significant stake still, along with investor TV Tokyo. Crunchyroll features both a free, ad-supported online video offering as well as a subscription online video service in more than 160 countries. TCG intends to work with Crunchyroll and its management team both to grow the existing anime business and to use Crunchyroll as a platform to launch new non-anime channels across several different genres.

“We’re thrilled to partner with Crunchyroll,” said Peter Chernin, the founder and CEO 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. We couldn't be more excited about the future. 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."

Kun Gao, founder and CEO of Crunchyroll, added, “TCG is the perfect partner for us. We decided to work with TCG based on their passion for the online video space, expertise in media, understanding of creative content and strong track-record of growing businesses. Anime is at the heart of our company—We love anime, supporting the growing anime community and working to provide the best entertainment to its fans. This investment from TCG will allow us to provide an even better experience and service for anime producers and fans worldwide.”

Yukio Kawasaki, the 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.”