Navarre Clarifies FUNimation’s “Under Performance”

According to Anime News Network, Navarre’s recent shareholder conference call clarified the recent announcement that FUNimation was performing “below expectations.” Navarre President Cary Deacon explained that FUNimation’s distribution of anime to home video has been performing above expectations while revenue from FUNimation’s non-anime home video, merchandise licensing, and sub-licensing for television broadcast has been performing below expectations. As a result, FUNimation has invested nearly $8 million into licensing new anime properties and will re-focus its attention on the anime home video market.

Deacon also explained that the FUNimation Channel television network has not been optioned by any American broadcaster yet, but the FUNimation Channel is “5-year plan, not a 12-month plan,” so the network’s development is progressing as estimated.