>https://toyokeizai.net/articles/-/743515?page=2ah so thats why niji stocks suddenly went down
apparently one of the leading jap buisness magazine did an article about vtuber indutstry specifically cover and anycolor
one of the damning parts is this paragraph right here
>ある業界関係者は「通常の営業利益率が40%近い水準にまで上がっているANYCOLORにとっては、コストがかかるフェスの規模が大きくなるほど、利益率が下がってしまうのだろう」と指摘する。その点、カバーはフェスの開催が収益性にマイナス影響を与える可能性は相対的に低いといえる。An insider basically said that it would be hard for anycolor to expand the scale of their festivals without taking a huge hit in their profit margine but in covers case their festivals having a negative impact on them like nijisanji is relatively low probably due to how they structured it
