Sony Anticipates Demon Slayer: Infinity Castle Will Surpass Mugen Train’s Box Office Success

Overview

The return of the Demon Slayer anime features the anticipated Infinity Castle trilogy, with expectations set high for it to outshine the success of Mugen Train on an international scale.
Sony has announced an anime adaptation of Ghost of Tsushima: Legends and the revival of Crunchyroll Manga, underlining the growing significance of anime within its business strategy.
Crunchyroll reports a surge in Gen Z anime viewers in both the United States and Brazil, with subscriber numbers escalating from 3 million to 15 million under Sony’s ownership.

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The anime sensation Demon Slayer: Kimetsu no Yaiba is set to grace screens once again with the first installment of the Infinity Castle trilogy. Sony’s optimism is palpable as they anticipate this new movie to eclipse the record-breaking achievements of Mugen Train. It has been some time since a true sequel has been released, as previous entries mainly served as compilation films or teasers for upcoming seasons—a notable example being the 2020 release of Demon Slayer: Kimetsu no Yaiba – Infinity Train.

At CES 2025, Sony shared exciting updates for anime fans, despite the event’s broader technological focus. The company unveiled plans for a Ghost of Tsushima: Legends anime adaptation and announced the relaunch of Crunchyroll Manga, which had been sidelined in 2023. The revived service, likely a modernized version of its predecessor, signifies the growing relevance of anime for Sony amidst high industry expectations.

In an interview with The Hollywood Reporter, key executives from Sony, Crunchyroll, and Aniplex weighed in on their projections for the upcoming Demon Slayer film. They expressed confidence that the new title could potentially outperform Mugen Train internationally—an indication of their aspiration for it to set new records as the highest-grossing Japanese film ever.

According to Aniplex’s president, Atsuhiro Iwakami, the monumental success of Mugen Train—which grossed nearly $473 million globally despite the pandemic’s impact—might have been even greater without these circumstances. Released during a global health crisis, the film achieved $49.5 million in the U.S. and captured the title of the highest-grossing Japanese film.

Iwakami’s insights reflect the sentiments of Toho executives, who noted a vast expansion of the Demon Slayer fanbase since the last film. “We are hopeful that the new film will exceed that performance in overseas markets,” expressed Iwakami, underscoring the potential for increased global collaborations within Sony’s anime initiatives.

Since the previous release, the global fan base for the Demon Slayer IP has grown significantly, so we are hopeful that the new film will exceed that performance in overseas markets. There are many more opportunities for Sony companies to collaborate around anime at a global scale.

Insights from Sony

Evaluating Company Perspectives

Beyond discussing Demon Slayer, Sony executives shared intriguing statistics about anime consumption. Recent research indicates that 42% of Gen Z anime enthusiasts in the U.S. engage with anime weekly, while this percentage rises to 60% in Brazil, Crunchyroll’s second-largest market. The growth from 3 million subscribers in 2020 to 15 million in July 2024 signals a robust engagement from these demographics.

However, it is crucial to approach these figures with caution. A recent Bloomberg report sheds light on underlying challenges within Crunchyroll, suggesting that the impressive subscriber growth may not align with Sony’s initial expectations. The timing of their announcement could indicate strategic positioning amid significant industry developments, such as Kadokawa’s recent impacts on anime.

As for Mugen Train, while Iwakami’s rationale is compelling, it is essential to recognize the critical context of the pandemic. The film’s link to the historic popularity of Demon Slayer during its peak in 2020 meant it was often the only substantial new content available to audiences at the time. The eventual performance of the Infinity Castle film will clarify these dynamics, but exceeding Mugen Train’s box office record presents a significant challenge nonetheless.

Top-Grossing Japanese Films

Anime Dominance in Box Office Rankings

Prior to the release of Mugen Train, Your Name held the record for the highest-grossing Japanese film, having surpassed Spirited Away in 2016-2017. With its staggering revenue exceeding $507 million, Mugen Train sits comfortably in the top spot among Japanese films, far surpassing Your Name‘s $398 million.

Recently, Miyazaki’s The Boy and The Heron entered the top five list of highest-grossing Japanese films. Interestingly, all films in this ranking are animated, based on current estimates: