New report reveals the anime industry hit massive milestone in 2024
Anime is on the rise, as Japan’s animation industry hit a record Japanese Yen 3.8 trillion ($25 billion) in 2024, up 14.8% from the previous year, according to the Association of Japanese Animations (AJA).
Overseas markets drove growth, generating 56% of total revenue, JPY 2.17 trillion ($14.25 billion), while domestic sales accounted for 44%, JPY 1.67 trillion ($10.97 billion), according to Deadline. Without international income, the industry’s growth would have been flat compared to 2023.
The report, presented by AJA committee member Megumi Onouchi, highlighted a clear trend: Japan’s anime industry is increasingly reliant on global audiences. Overseas sales first surpassed domestic sales in 2020, briefly dipped in 2021, matched in 2022, and have stayed ahead since 2023, reaching their widest gap yet in 2024.
AJA expects the overseas share to keep rising in the coming years.
Onouchi notes that much of this overseas spike is due to licensing IP to streaming services, urging Japanese companies to get more involved with international markets, such as merchandising and events.
“Overseas revenue is now climbing high and has not yet reached the peak,” Onouchi says. “We believe it has potential to expand to even more markets. We’re also seeing a rise in international events related to anime. There are currently 160 events across 50 countries, and the numbers are increasing.”
Similar to South Korea’s “Korean Wave,” Japan is leveraging its IPs, especially anime, to bolster the country’s earnings to 20 trillion yen (approximately $130 billion) by 2033 in an initiative called the “New Cool Japan Strategy.”
During the Tokyo International Film Festival Content Market (TIFFCOM), where the report was shared, presentations from Bandai Namco (Gundam), Toho Global (Godzilla), and Studio4℃ took place to discuss taking their animation IPs to international markets. Studio4℃’s animated film ChaO won the Jury Award at this year’s Annecy Festival. CEO Eiko Tanaka announced that it’s set for an international theatrical release in over 20 countries.
One Piece producer Tetsu Fujimura, who also attended TIFFCOM, credits Japan’s strong IP to three factors in his keynote: a huge domestic manga and anime market, global streaming distribution, and its powerhouse gaming brands, such as Sony and Nintendo, according to Variety.
“Japan’s representative IP genres – manga, anime, and games – possess extremely high growth potential that I believe will continue to be a source of pride, Fujimura said. “It’s a testament to Japan’s strength, proving that Japanese IPs can succeed in Hollywood.”
Hopefully, Hollywood takes away the right lessons from anime’s big boom.
