The Great Anime Inflection Point—Why This $25 Billion Global Market Just Overtook Japan for the First Time

Sep 24

SEPTEMBER 24, 2025 | 00:30 | Episode 88

Kendrick Wong, founder and CEO of Kasagi Labo

Kendrick Wong is the Founder and CEO of Kasagi Labo, an anime venture studio bringing authentic Japanese anime to global audiences. A seasoned entrepreneur and investor with successful exits across Asia and Europe, he was named a Forbes 30 Under 30 honoree in 2019. Under his leadership, Kasagi Labo has raised $20M to drive innovation in anime licensing, distribution, merchandising, and original productions.

ABOUT THIS EPISODE

Intro

Kendrick Wong's groundbreaking endeavors in the anime industry signify a profound transformation within a realm traditionally dominated by Japanese conglomerates. He has established the first foreign-owned anime production fund, thereby gaining unprecedented insider access to one of the world's most insular entertainment ecosystems. Throughout our discussion, we delve into the intricate nuances that differentiate anime from Western animation, particularly focusing on frame rates and storytelling techniques. Kendrick elucidates the remarkable shift in global anime revenue, which has now surpassed domestic sales in Japan for the first time in history, reflecting a burgeoning interest and demand that transcends cultural boundaries. This episode serves as a testament to the power of cultural bridges and the recognition of niche subcultures poised to explode into mainstream success, offering invaluable insights for aspiring entrepreneurs and investors alike.

Kendrick Wong was named a Forbes 30 Under 30 honoree in 2019. Link here: https://www.forbes.com/profile/kendrick-wong/

Conversation

A profound exploration of the anime industry unfolds as Kendrick Wong, a visionary entrepreneur and investor, shares his transformative journey through the intricate landscape of animation. With a background steeped in manga, Kendrick's profound appreciation for the art form propelled him to establish the first foreign-owned anime production fund. This pivotal decision emerged from his recognition of a seismic shift within the anime market, where global revenue has now eclipsed that of domestic Japanese sales for the first time in history. Kendrick articulates the nuances of anime's unique frame rates, contrasting them with Western animation practices. He elucidates the artistic choices that underpin the distinct aesthetic of anime, revealing how historical economic constraints have shaped its evolution into a celebrated art form. Throughout the discourse, Kendrick emphasizes the importance of cultural sensitivity and strategic partnerships as he navigates the traditionally insular Japanese entertainment ecosystem. This episode serves as a testament to the burgeoning global appetite for anime and the innovative pathways being forged by those who dare to bridge cultural divides.

Takeaways

Kendrick Wong's journey into the anime industry showcases the intersection of passion and entrepreneurship, emphasizing the importance of cultural sensitivity in global markets.
The anime industry's significant shift towards global revenue surpassing Japanese domestic sales reflects changing consumption patterns among younger audiences.
Kendrick's approach to investing in anime IPs highlights the necessity of strategic partnerships over mere financial input for successful market entry.
The unique frame rate of anime, traditionally lower than Western animations, creates a distinctive aesthetic that has become an art form despite its origins in cost reduction.
Kendrick's fund, Kasagi Labo, operates as a content production fund rather than a traditional venture capital fund, aiming for complete ownership of IPs to control their success.
Understanding the cultural nuances and history of the anime industry is crucial for foreign investors aiming to penetrate this complex market.