Why is Crunchyroll set to launch a free anime streaming channel?

Anime streaming giant Crunchyroll announced on October 11, 2023 that it is going to launch a 24/7 linear anime channel that will be free to access.

Crunchyroll Launches Free 24-Hour Anime Channel - IGN

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Crunchyroll Launches Free 24-Hour Anime Channel - IGN

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Crunchyroll Launches Free 24-Hour Anime Channel - IGN

Crunchyroll Launches Free 24-Hour Anime Channel - IGN