Sony, which has owned Funimation since 2017, bought Crunchyroll in 2021. Then Sony announced they were planning to discontinue Funimation in favor of Crunchyroll since it's the more recognizable brand. They then renamed the company Funimation to Crunchyroll, LLC.

Until now, they left the website Funimation alone, aside from continuing to add new episodes for shows that were already on the website Funimation when the companies were merged. (Completely new shows only went to Crunchyroll's website.) Now, they're shutting down the website Funimation and trying to get everyone who hasn't already to migrate over to Crunchyroll.

However, anyone who purchased digital content to keep that wasn't included in their Funimation subscription in Funimation is out of luck. Crunchyroll doesn't support paid digital content of that kind. They only support the content that comes with a subscription. So everyone is losing any digital purchases they made through Funimation.

It's funny. Companies are trying to force people to go the proprietary streaming digital-only route (where you don't own what you paid for and can't download it to view offline) while simultaneously showing people why that is an absolutely horrible idea. They're basically shooting themselves in the foot.

Crunchyroll and Funimation effectively merged into one due to a parent company acquisition.

FunimationNow has shut down and apparently Crunchyroll would be the streaming brand.