The United States is witnessing a soaring demand for Japanese anime. Establishing itself as the largest market for this genre outside of Japan. Analysts predict that the multi-billion dollar anime industry will continue to grow throughout the decade. It will be driven primarily by the high demand in the US.
According to market research and consulting group Precedence Research, the global anime market reached a value of approximately US$22 billion in 2020.
Analysts predict that the global anime market will reach around US$50 billion by 2030.
Industry watchers said the COVID-19 pandemic fueled a wave of anime fandom in the US over the past few years. This genre of Japanese animation became mainstream in Japan in the 1980s.
“With Covid, all of us sitting at home watching Netflix, we didn’t want to watch The Office or Seinfeld for the 10th time,” Mr David Edmundson, director of marketing at Bandai Namco Toys & Collectibles America.
“So we’re like, ‘Hey, let’s try this One Piece. It’s 1,100 episodes, it’s a little daunting but let’s just see what it’s about.’ And the show just hooks you.”
The accessibility to content on streaming platforms has also helped get more people on board.
In 2021, more than half of Netflix’s over 200 million subscribers watched anime in some capacity. According to the streaming platform.
“The nice by-product of the streaming era is the ability to experience different types of storytelling,.” said Professor Paul Hardart, director of the entertainment, media and technology programme at NYU Stern School of Business.