Sony isn't a newcomer in the space either -- it owns the ANIMAX network, which airs anime in 23 countries around the globe, including Japan. It also owns AXN, a cable TV channel that broadcasts anime, action shows, movies and sports programs. By acquiring 95 percent of Funimation, though, it will also be in direct competition with Netflix and Hulu, which have animated offerings on top of TV shows and movies.

Sony Pictures Television President Andy Kaplan said: