Okay, I finished reading the Cover document for investors. There isn't TOO much to say, unless you're really into the investment minutia of stuff like growth ratios, revenue stream diversification, and business terminology out the wazoo. But there is some stuff of note for you guys, so I'll post the notes I took while reading for everyone.
Holo Financial Notes:
>Superchats and Memberships: 38% of Revenue
>Concerts/Events: 16%
>Merch: 35%
>Collabs/Licenses: 10%
>All Revenue sources list "Profit share with VTuber" as a major cost, meaning the girls make good money on each
>Longterm COVER Business Plan:
>Step 1: Continue growing as usual
>Step 2: Make more licensing deals and fan events while continuing with Vtubing as usual
>Step 3: Launch HoloEarth as an MMO which directly super-charges our Vtubing business
>At no point do they plan on sidelining Vtubing as their growth model, but they want to utilize Vtubing to become entangled in all entertainment forms that Japan specializes in (Anime and Video Games, basically)
>COVER averaged out their revenue from each Vtuber to be about 1.5 million dollars each (by taking every person under contract and dividing the total revenue earned to each of them equally)
>COVER is currently and actively working on North American (or at least overseas for HoloEN) supply chains, so expect better merch prices as shipping costs decrease
>COVER's plan for HoloEarth: They call it "Metaverse," it's actually just an MMO, almost like PSO2?
>Most monetarily sus part: planned market for accessories and costume parts for an avatar. Equivalent to CS:GO skins? Or maybe Grand Exchange?
>they say that they want to sell digital merch on Holoearth on top of real life merch, so you better believe your ass is getting ohsi pins for five bucks a pop on that avatar character and limited time concert merch
>for major risks, COVER lists: Vtuber burnout, Youtube fucking them, and the risk of becoming too horny (literally write "if we become a threat to the public/moral order")
>there's a lot of technical stuff about growth rates and investment stabilization that won't interest most of you
>The big goals with this investment: MAKE PRETTIER VTUBER MODELS FOR 3D CONTENT, BUILD A NEW MOTION CAPTURE STUDIO SO THEIR BACKLOG ISN'T FUCKED, AND BUILD A HOLOLIVE APP
>a lot more investment stuff that people here wouldn't care about, like revenue flows
>interesting statistic: Ever since Myth debuts, COVER's overseas viewship ratio has been about 40% Overseas, 60% Japanese. But before Myth had debuted, the Overseas fan ratio had been growing, since around the start of COVID. So the Hololive overseas market was showing signs of popping off before the big pop-off.
>Cover keeps stats of "# of days until 100k subs, and this stat has sat at "Zero Days" for the last two years
>For their workforce, Management accounts for 17% of all workers, the game devs having 11%, VTuber developers at 35%, Marketing and Event Planners at 22%, and White Collar Office Workers at 14%.
>Mori and Suisei are specifically listed as strong brand drivers via music promotion (So are Chloe and Marine, but specifically via TikTok Zoomers)
>Cover specifiically said that their convention circuit was important to their growth, listing events like AnimeNYC and Crunchyroll Expo as big events (If you were at those cons, your picture is probably in an international investment document!)
There you go. Seems very standard, and mostly serves to show off what was probably obvious to everyone here already: Hololive makes a fuckton of money, the girls are all financially healthy, and so is their company as a whole.
