LOS ANGELES -- Rival anime-focused streaming services Crunchyroll and Funimation have joined forces.

The two companies announced a partnership on Thursday. Under the new agreement, Crunchyroll will continue creating subtitled streaming experience for fans, while Funimation will focus on delivering the best in English-language dubbed (“Broadcast Dubs”) streaming.

The overall goal is to "improve the fan experience and grow the current reach of anime by sharing titles across streaming, home video and electronic sell-through," the companies said in a joint release.

"Going forward, we are still separate streaming services," Kun Gao, Crunchyroll Founder and GM, told Mashablein an email interview. "However, by working together and collaborating, we can bring the best possible experience for fans in with the most complete simulcast offering on Crunchyroll and best possible Broadcast Dubs offering on Funimation."

Crunchyroll, which features a library of Asian programming, has had a subscription service with licensed content since 2009. It now reportedly boasts 700,000 paying subscribers.

Funimation, which launched its streaming service in January, boasted over 10,000 hours of dubbed anime on FunimationNow, making it the largest library of dubbed anime in the world.

Before the streaming service was launched, the company was known as the leader in North American anime DVD sales. Last year, Funimation racked up 4 billion unique engagements across its digital, physical and other immersive channels.

Now, with the partnership, Crunchyroll viewers will have access to subtitled versions of Funimation’s summer simulcast titles, including D.Gray-man, Hallow, First Love Monsterand Puzzle & Dragons X.And in the weeks to come, FunimationNow viewers will be able to watch Broadcast Dubs of Crunchyroll’s summer titles, including 91 Days, Mob Psycho 100 and Orange.

Additionally, a selection of catalog titles, such as Cowboy Bebop, Grimgar of Fantasy and Ash,and PSYCHO-PASSfrom FunimationNow will be available on Crunchyroll beginning Thursday, and Free! -Iwatobi Swim Cluband The Testament of Sister New Devilfrom Crunchyroll will be available on FunimationNow.

Mike Duboise, COO of Funimation, told Mashable, that the partnership will benefit fans because it makes it possible for them to stream more anime content at a better price.

"No more thinking about which company has what show," he said. "ALL of the best of anime brought to you by Funimation and Crunchyroll, both subbed and dubbed. This partnership will enable both companies to grow the anime industry, both in Japan and in the U.S. - this means more great anime for everyone. Fans won’t pay more for dual subscription. It really is bringing the concept of 'anime my way' to life."

Funimation will also now distribute Crunchyroll’s titles through home video and a variety of EST outlets, with both dubbed and subtitled versions together.

"[Anime] is an entertainment category fueled by passionate fans and it’s growing like crazy. It grabs them with an intensity that’s rare," DuBoise added. "Now, with anime being accessible across multiple platforms such as streaming, broadcast, theatrical releases download-to-own, and home video, it is becoming even more beloved."