Navarre Discusses FUNimation’s Growth

Navarre Corporation CEO Cary Deacon has informed ICv2 that its subsidiary FUNimation has experienced “double digit sales growth and more than doubled its operating profits during the fiscal 2008 year.” The tremendous growth came from a combination of increased market share as a result of Geneon USA’s closure and reduced activity from other competing American anime distributors, and a sharp decrease in anime acquisition costs from Japanese licensors.

Deacon hinted at the possibility of absorbing one or more domestic anime distribution competitors by saying that “consolidation opportunities” exist, but did not elaborate further.