Crunchyroll Japan’s Profit Sinks 63% Despite Rising Subscribers

Crunchyroll Japan has recorded a net profit of ¥453 million (~$2.85M) for the fiscal year ending December 2025, from ¥1.239B (~$7.79M) the prior year, despite subscriber growth. The data, published in Japan's Official Gazette on May 19, shows a 63.4% year-over-year profit decline for the Crunchyroll LLC subsidiary.

The data sits in stark contrast with Crunchyroll's global performance. Sony’s FY2026 earnings reported on May 8 that Crunchyroll surpassed 21M paid subscribers worldwide, up from 17M in 2024. Even Sony’s Media Networks group revenue, which includes Crunchyroll, rose to 13% to $3.17B.

The gap between audience growth and local profitability loss points to a cost structure that subscriber increases have not yet resolved. According to the new data, the Japan subsidiary currently has total liabilities of ¥10.842B (~$68.26M), with total assets of ¥11.991B (~%75.49M), including deferred assets. The numbers bring Crunchyroll's net assets down to only ¥1.149B (~$7.23M).

Crunchyroll’s weaker earnings reflect the current trend in Japan’s anime industry, where operational costs are climbing faster than revenue growth. In 2025, 60% of the anime studios recorded a loss despite the global anime market continuously growing at a 9.2% CAGR

Despite Profit Decline in Japan, Sony Bets Big on Crunchyroll

Crunchyroll’s Japan subsidiary's profit drop has not impacted Sony's broader strategic confidence in its anime business and subsidiary Crunchyroll LLC. Crunchyroll contributed to Sony Pictures Entertainment's adjusted operating income of $858M for the fiscal year.

Previously, in March 2025, Parrot Analytics estimated that Crunchyroll could account for 40% of Sony Pictures' operating profit within two years. Market research firm Bernstein identified the anime streamer as a “hidden gem” for Sony Pictures.

In Sony’s corporate briefing for FY2026, CEO Hiroki Totoki also positioned anime as part of the company’s long-term “Creative Entertainment Vision.” The media conglomerate has also set up a new venture, Hayate anime label, as an Aniplex-Crunchyroll joint venture to deepen its content production pipeline.

Crunchyroll Japanese branch's 63.4% profit decline shows the continuous pressure of managing global streaming demand, audience scale, and regional localization. For Crunchyroll, the financial test is to convert rising subscriber numbers into sustained profitability, where content costs continue to rise across the anime industry.

Disclaimer: Source data was machine translated from Japanese. Sony Group has not confirmed Crunchyroll’s profit decline with a public disclosure as of May 21, 2026.