In the latest news of surprising business acquisitions and initially logical mergers, Toho Animation, a self-proclaimed leader in Japanese entertainment, has announced its acquisition of Gkids, a North American animation producer and distributor.
Earlier today, Gkids published a press release describing its acquisition by Toho of Los Angeles as the location where Toho will acquire 100% equity in Gkids. At the same time, the other will maintain its independence (and people in power like CEOs and so on) while using Toho’s connections to strengthen its business and further its reach into the entertainment world. What does all that mean for the average fan of Japanese entertainment and anime? The industry’s two biggest forces are joining forces to compete with other companies vying for our precious attention, like Disney.
The main motivation behind the Toho and Gkids partnership is the success both companies have had at the box office this past year. Godzilla Minus One and Hayao Miyazaki’s The Boy and Octopus. As Gkids said in its press release, both films achieved significant milestones within a week of each other, with the former becoming the highest-grossing Japanese film in the states and the third-highest-grossing foreign film in US history. , and the latter became Studio Ghibli’s highest-grossing film in the US
And what’s more, these two don’t know each other, because they worked together on the theatrical release of the same animated films Spirited Away: Live on StageMakoto Shinkai’s Weather With Youand animation Studio Trigger’s Promare. Reading between the lines of the Gkids press release, the two may have decided to do a mixed dance after making their presence felt during the recent awards season (including the Oscars). Putting on the hat of capitalism, the two aim for their combined power to lead to a repeat of their success with the above-mentioned award-winning films as a team.
“Gkids will continue to operate the way we’ve always operated—with the same team, same passion, and same mission—but now with the support of an aligned and legendary parent company,” wrote Gkids founder Eric Beckman and president David Jesteadt. joint statement. “This partnership will empower us to bring even more amazing films to North American and global audiences, while continuing to champion animation as a cinematic art form and push the limits of what the medium is capable of. We couldn’t be more excited about the opportunities ahead of us. The best is yet to come.”
Although Toho has become a household name for many anime fans thanks to its huge marquee shonen series Dragon Ball Z again Jujutsu KaisenGkids has become a rising star in the cultural zeitgeist. Its North American theatrical distribution and home video release of Boot camp, Dan Da Dan, The first Slam Dunkagain Arcane The first season is the latest example of Gkids’ money transfer that puts itself on the map for fans of Japanese entertainment and animation. Similarly, Toho has been on the road to acquiring visuals for the future, which it recently did Scott Pilgrim Goes, Dan Da Danagain Devilman Crybaby animation studio Science Saru.
“Through their hard work, vision, and integrity, Gkids has built a unique position in the US market, which fits perfectly with Toho’s strengths and strategic mission,” Toho president and CEO Hiro Matsuoka wrote in a press release. “This partnership accelerates Toho’s goals of prioritizing animation, developing international markets, and supporting IP creation, while bringing exclusive Japanese content and animation to global audiences.”
Hopefully, this absurd acquisition doesn’t lead to an infection of layoffs throughout Toho or Gkids, as we’ve seen countless times in the video game industry. Meanwhile, the likes of Disney and Netflix can look forward to high competition at both the box office and awards season.
Looking for more io9 news? Check out when you can expect the latest Marvel, Star Wars, and Star Trek releases, what’s next for the DC Universe in film and TV, and everything you need to know about the future of Doctor Who.
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