Sony is looking at a U.S. streaming platform owned by the company AT&T. Crunchyroll of its name, it specializes in animated series
Sony is looking at a U.S. streaming platform owned by the company AT&T. Crunchyroll of its name, it specializes in animated series such as anime and manga, with 3 million subscribers in the United States. According to the Japanese daily Nikkei Asia, Sony would be in final discussions with the owner of the platform for an upcoming acquisition.
Crunchyroll is far from being able to stand up to Netflix, but with a platform like it, Sony would further expand its entertainment business. The deal would echo the Fun animation deal in 2017 by Sony as well.
The platform is currently under the wing of the AT&T company but the latter would like to free itself from some of its activities to be able to reduce its debt, estimated at more than 150 billion dollars, according to figures at the end of 2019. Nikkei Asia reports that initial discussions on the sale of the platform were around $1.5 billion. Sony would have managed to negotiate down the contract.
The news comes at a time when Netflix has chosen to raise its prices in the US, a policy that other platforms such as Spotify in music streaming are also expected to announce. The increase in the number of users is not in question, but in order to be able to report growth and economic health, platforms are now giving in to the temptation of higher prices for more revenue.
Currently, Crunchyroll is available with an $8 subscription in the U.S., or in a more comprehensive offering under HBO Max. As we move from AT&T to Sony, it will be interesting to see if the pricing will change. One thing is sure, the power of the Japanese giant should allow the platform to increase its reach.