>>107666320A preprint article "The Circulate and Recapture Dynamic of Fan Mobility in Agency-Affiliated VTuber Networks" by what seems to be a graduate student of the University of Tsukuba analyzes viewer retention differences between indies and corporate vtubers using chat logs and supas, finding what they propose to be a mechanism in which corpo viewers are more likely to stay within a corpo while possibly switching oshis, while indie viewers are more likely to leave entirely.
Not clear if it's intended to be published or presented anywhere or if they just threw it up on arxiv.
https://arxiv.org/pdf/2512.10240 