Oh noes anime is dying! FUNimation posts $2.3m profit

7:00 PM on 10.30.2009 // Josh Tolentino

The issues surrounding the anime industry are myriad, as any otaku would know. Piracy, fansubs, declining interest in DVD sales, and of course the overall economic downturn. To that effect, many an internet voice has sounded the death knell of the American anime industry.

This is not so, however! At least, not for some publishers. Navarre Corporation, the parent company of FUNimation, has posted a 2nd-quarter profit of $2.3 million. Compared to the same period last year when the company recorded a massive $44.5 million loss, it looks like quite the achievement.

Home Media magazine reports that FUNimation's success played a large part in the turnaround, as well as Navarre's managing to cut ties with the unhappy DVD distributor BCI. Not everything turned up roses, though. The recession reared its head in the net sales figures, which were down to $122 million compared to $170 million the year before.

Good going, FUNi! Here's to you guys scraping together the cash to license Bakemonogatari on Blu-ray!

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Josh Tolentino, Managing Editor
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Josh is Japanator's News Editor, and contributes to Destructoid as well. Despite not owning a hat, he insists on having a little "Press" card to insert into the band. For high school reasons he's... more   |   staff directory

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