I think there are multiple hypothesized reasons, but I haven't seen any numerical figures so it's hard to confirm how impactful each is: - Anime production com

I think there are multiple hypothesized reasons, but I haven't seen any numerical figures so it's hard to confirm how impactful each is: - Anime production committees (https://blog.sakugabooru.com/2017/05/02/what-is-an-animes-production-committee/ https://blog.sakugabooru.com/2017/05/02/what-is-an-animes-pr...) take a large portion of the profit from a show, and studios often see very little (they're often not on the production committees). - If the studio doesn't own the IP, they'll likely have to pay a hefty amount for it. - There's not much actual revenue from anime: historically studios have tried to monetize via extraordinarily expensive DVDs of the episodes (such that only die-hard fans would buy them), and merchandise, but apparently the studios don't even get all of the revenue from these sources. Streaming is becoming more popular but I'm not sure how much revenue Crunchyroll/Netflix/etc. shares with the studios. - Anime is often seen as an advertisement for the original source material (usually manga), so there's less incentive for certain parties on the production committee to monetize.