Japan’s Toho Buys Ghibli Animation Distributor GKIDS to Further Overseas Growth
18:09 JST, October 16, 2024
TOKYO, Oct 16 (Reuters) – Toho Co, the Japanese creator of the “Godzilla” movie franchise, will acquire the U.S. distributor of Studio Ghibli’s famed animated films, it said on Wednesday, to help drive overseas expansion.
The acquisition comes amid a surge in global popularity for Japanese entertainment, and fits with Toho’s multi-year growth strategy centered on animation and overseas markets.
New York-based GKIDS, which distributed Ghibli’s Oscar-winning “The Boy and the Heron,” will become a wholly owned subsidiary of Toho after the deal, whose terms were not disclosed in statements from both companies.
“We are truly thrilled to be joining forces with the esteemed and storied Toho,” GKIDS, which has distributed 13 animated films nominated for Oscars, said in a statement, citing founder Eric Beckman and president Dave Jesteadt.
Toho’s own “Godzilla Minus One,” a hit in overseas markets, took home an Oscar for visual effects in March, while “Shogun,” a historical epic filmed mostly in Japanese, won a record number of Emmy Awards last month for a single season of drama.
Japan set up a committee last month to promote its entertainment industry, which was worth 12.9 trillion yen ($86.43 billion) in 2021, ranking third globally after the United States and China, the cabinet office said.
GKIDS manages the film catalog of Ghibli, the studio of renowned Japanese director Hayao Miyazaki, in North America.
In March, it inked a deal with Warner Bros. Discovery WBD.O to extend the U.S. streaming rights to Ghibli films.
"News Services" POPULAR ARTICLE
-
Harris Widens Lead over Trump to 47%-40%, Reuters/Ipsos Poll Finds
-
Israel Declares UN Chief Antonio Guterres ‘Persona Non Grata’ over Iran Attack Response: Foreign Ministry
-
Hezbollah Leader Hassan Nasrallah was killed in Beirut Strike, Israel’s Military Says
-
Foreigners Turn Net Sellers of Japanese Stocks for 2024 on Concerns Over Yen Strength
-
South Korea’s Han Kang Wins 2024 Nobel Literature Prize
JN ACCESS RANKING
- Harris Widens Lead over Trump to 47%-40%, Reuters/Ipsos Poll Finds
- Japan-S. Korea Exchange Festival Held in Seoul
- Gaza Polio Vaccination Rate Likely Exceeds 90%; UNRWA Health Director Praises ‘Miraculous’ Rollout
- Japan Trying to Draw Digital Nomads, Who Are Seen as Beneficial to Economy, Society
- Typhoon Cimaron Forms South of Japan; Expected to Move Closer to Kyushu, Shikoku in Few Days