In a Financial Results
for FY2023/3 report, Cover revealed how much money its Hololive VTuber talents are making for the company. It saw exponential financial growth over the past few years, as well as seeing more and more subscribers to its various channels. In particular, it made almost 50% more money in March 2023 compared to the previous fiscal year.
For FY2023, Cover reported a revenue of 20.451 billion yen. That would be about $150.8 million. After all of its expenses, its net profit was around 2.5 billion yen, which is around $18.4 million. Most of this money came from merchandise (8 billion yen) and streaming (6.342 billion yen). Cover has contracts with 75 VTubers as of March 31, 2023, who have 75.58 million subscribers between them all.
The main Hololive channels are still the most popular in terms of subscribers, with 46.82 million new ones in 2023. In terms of revenue, there was a huge increase of revenue between Q4 and Q3 of FY2023/3. Though only four new VTubers joined the group, Cover saw an increase of 31 million JPY in revenue between the two quarters. It attributes this to talent debuts in new areas, as well as putting more money into its current talents. It highlights Hoshimachi Suisei’s singing career as an example.
In order to continue growing, Cover plans on releasing more Hololive merchandise lines and product licensing. So there might be more companies and intellectual properties collaborating with Hololive in the future. It has also invested in a new motion capture studio for more 3D content, Metaverse services, and the Holoplus app. Holoplus will come out in Summer 2023. Meanwhile, Metaverse projects will cost around 2-2.3 billion yen until FY2024/3.
Cover is continuing to develop its talents, as well as working on its long-term projects such as Holoearth.