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This article was published on February 25, 2013

GREE and Yahoo Japan’s GyaO create $1 million fund to produce anime content and games

GREE and Yahoo Japan’s GyaO create $1 million fund to produce anime content and games Image by: TOSHIFUMI KITAMURA
Josh Ong
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Josh Ong

Josh Ong is the US Editor at The Next Web. He previously worked as TNW's China Editor and LA Reporter. Follow him on Twitter or email him a Josh Ong is the US Editor at The Next Web. He previously worked as TNW's China Editor and LA Reporter. Follow him on Twitter or email him at [email protected].

Japanese gaming giant GREE has announced the creation of a joint venture with Yahoo Japan’s GyaO video portal that will invest in the production of new anime-related content and social games.

The endeavor, called Future Content Partners, comes as part of a larger partnership between GREE and Yahoo Japan. Last November, the companies announced a strategic alliance on content, gaming and mobile initiatives. Earlier this month, the pair announced GxYz, a joint venture for mobile social gaming.

Including both content and character-related income, Japan’s anime market is believed to bring in over 1 trillion yen ($10.6 billion) in annual revenues.

GyaO says it will cooperate with the new venture, GREE and parent company Yahoo Japan on opening a “dedicated anime information portal site” for games, video content and digital books.

The venture will receive $1.06 million (100 million yen) in funding with an equal 50-50 ownership share between GREE and GyaO. The companies plan to formally establish the fund at the end of May.

Image credit: TOSHIFUMI KITAMURA / AFP / Getty Images