>>75738647Because the issue is a lot more complex than "25% of revenue from streams."
Two categories that are only going to grow in revenue are going to be the live concerts and sponsorships. Why? Because concerts themselves are an investment with a lot of immediate expenses attached...expenses that Hololive has now paid. They've invested into all kinds of studios and software to make those happen, and now they seem pretty much set. Therefore, as time goes on, concert revenue will be higher since there are less expenses to subtract from it.
Meanwhile, sponsorships are something that is more lucrative the more popular Hololive is. As Hololive grows and gains in popularity, their sponsorships become more appealing for advertisers, meaning advertisers will shell out more and more money to make them happen. This category, alongside concerts, showed the most revenue growth as a result. Love it or hate it, advertisers and sponsors are unfortunately "where the money's at," so the more of this that are involved, the more this will draw percentage points away from the other categories shown.
Finally, streaming itself is something where Cover themselves only get a cut. Every donation or bit of profit gained initially goes through Google's profit filter before ever reaching Cover, let alone the talents. By default, this means streaming has a handicap when compared to the other categories, where Cover pockets 100% of the profit and at most just divides it internally with their own talents.
However, as their presentation also touched on, streaming is where everything starts. Without streaming, you do not generate discussion, which does not generate free press and marketing via discussion, which does not generate interest, which then cannot push sales and sponsorships.
To look at this and say "they should stop streaming since it makes no money" would be akin to a bakery getting rid of their flour because customers rarely buy it. It doesn't matter. It's still the foundation of the revenue generated elsewhere. People would not be interested in merchandising, concerts or sponsorship deals with the hololive talents if they were not already generating fan interest via streaming.
