Funimation Crunchyroll merger history: Sony's consolidation of anime streaming
The Funimation-Crunchyroll merger was a multi-year process, not a single event. Here is the timeline and what changed for subscribers.
Published: 2026-08-19. Updated: 2026-08-19.
Short answer: Sony acquired the anime streaming service Crunchyroll from AT&T in August 2021 for approximately USD 1.175 billion, folding it into the same corporate umbrella as Funimation. On March 1, 2022, Sony announced that Funimation and Wakanim content would migrate to Crunchyroll and that new series would stream exclusively on Crunchyroll. The Funimation app and website closed on April 2, 2024.
How Sony ended up owning both services
Sony already owned Funimation, the North American anime distributor and streaming service, when it acquired Crunchyroll from AT&T. Sony Group's securities filings confirm that the Crunchyroll acquisition was financed in part by an approximate USD 1.175 billion bank loan.
The deal gave Sony control of the two largest dedicated anime streaming services in the West. Rather than operate them as competitors, Sony chose to consolidate them under the Crunchyroll brand.
The March 2022 unification announcement
On March 1, 2022, Crunchyroll announced that Funimation and Wakanim content would move to Crunchyroll in order to build what it called the world's largest anime catalog. The announcement said Crunchyroll would receive roughly 80% of the Funimation and Wakanim shows by the end of March 2022.
From the spring 2022 season onward, newly licensed anime series would stream exclusively on Crunchyroll. Funimation and Wakanim continued to air new episodes of previously announced ongoing series but stopped adding new catalog titles.
Subscriptions, pricing, and the corporate rebrand
After the merger, the surviving entity was Crunchyroll, LLC, replacing the Funimation Global Group name. Crunchyroll continued to offer three subscription tiers priced at USD 7.99, USD 9.99, and USD 14.99 per month at the time of the announcement.
Funimation and Wakanim subscribers were told to cancel their existing subscriptions and create new Crunchyroll accounts. Digital copies purchased through Funimation, gift cards, saved queues, and watch histories were not migrated automatically.
What did not transfer: Crunchyroll's support documentation confirms that Funimation digital copies, gift cards, and watch history were not carried over to Crunchyroll. Some features were described as 'in the works' in 2022 but never fully delivered.
The end of Funimation
The Funimation website and streaming app closed on April 2, 2024. After that date, Funimation URLs redirected to Crunchyroll and existing Funimation subscriptions were transferred to Crunchyroll billing cycles, though pricing and plan details varied by platform and region.
The closure completed the consolidation that began in 2021. Funimation as a streaming brand ceased to exist, though its dubbing and distribution legacy lives on inside Crunchyroll's catalog.
What the merger changed for anime streaming
The merger concentrated a large share of legal English-language anime streaming under one Sony-owned brand. Crunchyroll now operates as a joint venture between Sony Pictures Entertainment and Aniplex, a Sony Music Entertainment Japan subsidiary.
For subscribers, the main effects were a single subscription destination, a larger combined catalog, but also the loss of some Funimation-specific features and the uncertainty around digital copies and watch history. For the industry, the deal reduced the number of major bidders for anime licenses in North America and Europe.
Funimation-Crunchyroll merger timeline from official announcements and filings.| Date | Milestone |
|---|
| August 2021 | Sony completes Crunchyroll acquisition |
| March 1, 2022 | Funimation and Wakanim content migration to Crunchyroll announced |
| March 2022 | Crunchyroll, LLC replaces Funimation Global Group |
| End of March 2022 | ~80% of Funimation/Wakanim shows moved to Crunchyroll |
| Spring 2022 onward | New anime series stream exclusively on Crunchyroll |
| November 3, 2023 | Wakanim shuts down |
| April 2, 2024 | Funimation app and website close |
Frequently asked questions
When did Sony buy Crunchyroll?
Sony completed its acquisition of Crunchyroll from AT&T in August 2021 for approximately USD 1.175 billion.
When did the Funimation app close?
The Funimation app and website closed on April 2, 2024.
Did all Funimation shows move to Crunchyroll?
Crunchyroll said roughly 80% of Funimation and Wakanim shows would move by the end of March 2022. Not all titles migrated, and some remain unavailable due to licensing windows.