In Japan, the management of anime series as intellectual properties has developed over a long-time span, growing into a sophisticated system of transmedia serialization professionally known as the “media mix.” Content derived from well-established anime series, however, is not exclusively developed to promote spin-offs and merchandise notoriously associated with fans and otaku subcultures. In a changing domestic market, it is increasingly exploited to add value to products and services in unprecedented commercial spheres, including drinks, tourism, and urban requalification. By taking the 40th anniversary of Mobile Suit Gundam as a case study, this chapter reflects on recent trends in anime licensing, providing a brief introduction to their effects on what might be called “extended” anime distribution. Through this perspective, it becomes possible to identify a series of apparently unrelated phenomena that are nonetheless connected to the aging of anime series and the changing demographics of their consumers.