The most common licensing model for new shows is royalty-based with a “
minimum guarantee” (MG). The MG is the bare minimum that the licensee guarantees to pay. Sometimes, the MG ends up being the only payment made. Licensors generally look for an MG that is sufficient to make the deal “worth it,” even if additional royalties are never paid.
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A first-rate, “triple A,” or “A+” simulcast for North America will set the licensee back an MG or flat rate of hundreds of thousands of dollars per episode. Currently, these titles often go for as much as US$250,000 MG per episode, but can go as high as $400,000 in some cases. $250,000 per episode roughly covers the full Japanese production budget for many series, although higher budget anime sometimes cost as much as $500,000 an episode to produce. At those rates, other countries and physical media rights are usually included, but they are the lesser part of the fee; the simulcast is the major portion.
A more typical show, or what the industry calls a “B/B+,” will have an MG of between $70,000 and $150,000 if it's a new (first run) show. Finally, the “Cs” will have simulcast prices in the lower five-figures – per episode, of course.