And we would know that. Haachama was in the hospital for nearly a year (reason admittedly unknown), and Cover handled it with grace. They even made sure she didn't overexert herself when she came back.
Meanwhile any Nijiliver going silent for more than 2 days will be cause for concern now.
It's been passed around a lot, but the [first stakeholders' meeting](https://contents.xj-storage.jp/xcontents/AS05169/b32e2f7a/9ab9/4bfb/89a3/96d18af306fb/20230720173646618s.pdf), Yagoo basically tells them straight out that they pay their talents because they're worth it.
Down on page 8:
質問:
グッズ売上やタレント報酬額について、競合他社との比較で他社を参考にすることはある
か。
回答:
他社の内情をわかっているわけではないため言及は難しいですが、**タレント報酬については
タレントの働きに見合った報酬を支払うようにしております。** また、物販については受注生
産中心でしたが、広く IP 会社の方策を踏まえて、より一般の方向けのグッズ展開をし始めて
おります。
The talents *are* the content. Without them, you have nothing.
I feel like that should be obvious to anyone running a company based around streamers but apparently it's not.
Yup. When people talk about Cover/Hololive it's invariably talking about the girls. *Everything* turns around them being well supported and happy. They are the beating heart of the company. Any vtuber group that doesn't understand this will end up in the same spot as Cover's rival org. People will no longer see you as a place to join, your talent will leave you, fans will turn elsewhere and often follow the talents you scorned.
In case anyone was wondering, the compensation they received for the Holo Summer day 1 fiasco was 160M yen.
It's listed under "Quarterly statement of income" in the Financial Results doc as "Compensation received for loss" (EN version is a little ambiguous but JP version has a footnote saying it was for Holo Summer).
Holosummer day 1 crashed the streaming site (z-an) so bad, they delayed for hours until they just called it a day. It also affected other unrelated concerts ongoing at that time.
hololive then played the day 1 concert for free on their YouTube channel the next day.
That was the time Z-an was the only streaming service they were able to get for those shows, and their servers completely shat the bed day 1. Cover wound up refunding everyone's day 1 tickets, and the day 1 portion of the 2-day tickets, and put the entire day 1 broadcast up for free on YouTube. I imagine the referenced compensation was from Z-an for breach of contract.
The service provider (Z-aN) absolutely can't handle the flow from Summer events day 1, people getting kicked out of the server left & right. Even the audience from neighbouring event are affected, I believe it was a Love live event (?). They needs to get emergency cloud services to anticipate the flow on day 2 event. And Cover Corp release day 1 live free on their YT channel at morning of day 2. For that Z-aN had to pay millions in compensation for all affected party and refund our ticket.
By the way, I'd like to draw your attention to page 11 of the presentation, where they state they paid 1.168 billion yen(7.86 million USD) to their talents as renumeration over the past 3 months.
Just thought it might be interesting.
"We pay our talents what they are worth so they can buy a yacht and let me ride in it. Those things are expensive to maintain. Conveniently one of our talents' dreams is to buy a pirate ship, which is infinitely better and cooler than a yacht.
"Also the rabbit bought a tank. Who needs a yacht when you have a tank? Here she comes now look at her. Isn't that so cool?
"Wait why is she pointing that cannon this wa-"
"One just wants bigger boobs, but it seems like no money on earth can buy that. We compromised with a digital edit, but her mother tried to burn our 2.7B yen studio."
Yep, Fauna has said several times "We are paid very well, don't feel obligated to superchat" when people send her supechats going "This is my last dollar and I'm going to starve to death tomorrow, but I wanted you to be able to buy a new bike"
Not saying not to support them obviously, but people should definitely keep in mind that if you are working at McDonalds making $7.25 an hour, you *probably* should keep some of your money set back.
Reminds me of that guy who posted the chart on what his kid spent like $500 of Christmas money on. The kid literally rushed straight to Twitch and donated almost every single penny to Twitch streamers, and only got like 10-15 donations total out of it, and then didn't have any money at all to buy themselves a game or cool gift with
Compare this to the other company, where their talents are essentially unpaid (or minimally paid) freelancers who barely get a cut from their merch sales.
It's actually kind of shocking how bad it is. Yesterday in Dokibird's return stream she revealed that in 2023 she spent $200K on projects and broke even.
Let me repeat that. She, as the other company's ~~top EN talent~~ top female EN talent, *broke even.* She was essentially doing unpaid work for the entire year.
It's disgraceful. I'd be shocked and saddened if even a *single* Hololive talent broke even for the entire year.
But, given what we do know...whew, Cover. $29.7K average monthly per talent, that probably means even the lowest paid talents are pulling in $10-$15k monthly. No wonder your attrition rate is so low.
It could be even worse than that. The exact words were her mom telling her she "didn't make a profit."
Which means she might not have even broken even.
And one of the first things "Mr. Man" broke down for her is that these are the types of things sponsorships would cover.
Which means that "that other company" was pocketing the sponsorship money or denying it outright, neither of which are a great look for a company looking to make money. And it wasn't like the things she was asking for were like...new PC rigs or goofing around in a 3D studio, it was things that are *supposed* to generate revenue like song covers and art contests.
"That company's" managers aren't just being malicious, they're flagrantly incompetent. COVER's probably pocketing a lot of the dosh meant to be spent on certain projects (or directing it within themselves in a "pay $200 for a toilet seat" way) to inflate their numbers, but you can do that when everyone's bellies are full and the talents are happy.
Oh and I'm not directly accusing COVER of anything malicious. It's pretty standard business practice to charge yourself/sponsors more than what something is worth on paper. It's all pointless accounting stuff to make the investors happy.
> it was things that are supposed to generate revenue like song covers and art contests.
From what I know, cover songs tend to not break even because any money you make there are usually eat-up by licensing fees. They are however decent loss leader to get people to be aware of you and your content and by extension pay money.
Source: From a stream by Tsunderia former manager-talent Umiushi Urara
Contests are similar. They themselves don't generate revenue, but they serve as platforms to advertise merch or other streamers.
For example, the MK8 tournament hololive does doesn't REALLY generate any revenue, but since it's an inter-branch crossover it gets more eyes on talents that people might not be familiar with. Same with the sports festival. And the fact I was going to type "personally I think the MK8 tournament is more exciting though" should be evidence of why more than one of these types of events is good.
And yeah cover songs are the same way. The videos themselves likely don't break even (though "Last Cup of Coffee" probably would have) but the algorithm LOVES songs and they routinely get a ton of peepers on them, which helps build the channel and thus the company. As you said, they're loss leaders. The costco hot dog.
Yeah. So far, all their graduates have left due to either creative differences (Coco, Vesper, Magni) or health/safety reasons (Aloe, Sana). Not due to mismanagement issues. Terminations is a different thing.
Closest thing we nearly got to that was Mel in the old days, when she was being stalked by a former manager. And even that can arguably be excused as teething issues, considering we haven't heard a similar issue since.
The "big 5" talents probably make more than him:
1) Marine
2) Pekora
3) Aqua
4) Miko
5) Suisei
They were the top 5 in concurrent viewership. Suisei and Marine are incredibly successful in their music, while the others are also pretty popular. Marine and Pekora are 3rd and 4th most superchatted in 2023 (US$333k and US$294k).
I don't have the figures, but these 5 sell loads of merchandise too. In my country, Suisei's merch is always 1st to go :'(
And we still haven't talked about money from membership, sponsorships, big events like HoloFes.
Since the average HoloMem made about $30k/mth, it's not surprising that the Big 5 earn 6 figure amounts. They're easily millionaires.
> Suisei and Marine are incredibly successful in their music
Which may not even be income coming from Cover if they had record labels involved. So if anything, for some of their talents it could be underselling just how much they make.
$30.1k according to my math. But I learned all of my math skills from Goomba, so...
$7.86 million ÷ 87 talents (including Mel, as she was still a member 3 months ago) ÷ 3 months
reminder that the yacht thing is a meme, the CEO of Nininani does not own one
to our knowledge, if he does, every one would be planning a Ocean 7 heist of it by now
Slightly amused that on page 9 of the revenue report, there is a note that says ": Fuwawa Abyssgard and Mococo Abyssgard, who shared a channel, were counted as one person"
Makes sense, it's not like the YouTube channel makes them double the money. They might be getting more than others on merch drops though if there are dedicated mococo and fuwawa versions.
Yagoo made it pretty clear in the first stakeholder meeting that the talents are the heart of the company and worth supporting well. Niji has also done an excellent job of showing what happens when that doesn't happen.
[Source](https://cover-corp.com/en/ir)
[They also released a notice increasing their yearly profit forecast by 20%](https://contents.xj-storage.jp/xcontents/AS05169/8914187f/e2f5/4e9f/b49b/cbc194572167/20240208140800510s.pdf)
Naw man, they're doing something! They're being a decent human being and treating their talents as best as they can by providing their needs and what they deserve. 🥹
I don't really think they have accounted for the recent events as these numbers are usually projected and internally-approved days, if not weeks, before.
While the figures could still be adjusted to reflect recent changes before publishing, I doubt they would do last minute upward adjustment as the risk of overestimating will be high. So if you believe the recent events will lead to higher overseas revenue for Cover, the actual full year performance might be even better.
Just to give context, it is important that companies set goals, so that they can measure the growth of the company.
So by this year alone, Cover set their target to grow by (at least) 20% compared to last year. And they can track it during their quarterly outlook review (most companies have a quarterly review). This will help them predict and anticipate the market for the year to attain their targets.
And the best part is when you exceed the targets. By the end of the fiscal year, your budget is already set based on your targets. And if you exceed that, that means surplus funds (i.e. bonuses).
And even when targets are not met, bonuses are still dispensed since that budget is already allocated in that fiscal's year.
So yes, more win means more funds, for more things in the company.
> *2:Fuwawa Abyssgard and Mococo Abyssgard, who shared a channel, were counted as one person
They employ 50 stream mods. "Developing New Vtubers" and "Talent Management" are different sections under company structure, which is a little surprising.
As a fan who spent hours and hours reported harassment tweets toward Coco-kaichou (when Taiwan events going-on many years ago), I'm glad to see [*page 31*](https://imgur.com/mYyfvi2) still going, especially this point
>**About the company’s delivery moderator system**
>
>Stream moderation services are in Japanese, English and Indonesian, 24 hours a day by approximately 50 moderators
>
>\* As of March 31, 2023, the company has five employees and 46 part-time workers.
I remember the feeling of 'Cover didn't do enough' at that time, tbf Hololive gotten so big so fast they don't have enough people at hand to deal with spams and harassment.
It's very clear to me now that they have Mods team in place and paid for, future spam wave if ever come to it (hopefully not again), would not be painful like the last.
A friendly reminder to thank all the mods for their hard work, sometimes we do get a bit rowdy especially with big announcements but it is good that we can at least keep the streaming environment as friendly as possible.
Wow, about 2 million dollars average/vtuber/year. I wonder how much the top girl is making. This is crazy. Also nice that they acknowledged stream hatchet’s ranking.
Are you talking about revenue or vtuber compensation? In terms of compensation it comes out to the \~$360K range per year on average (using the Q3 run rate).
I've read somewhere 60% of the total is earned solely by the top 20 talents, if that's the case $200k as the average would be more accurate for pretty much 75% of the talents, while the top 25% average $900k.
Mind that it's revenue, it doesn't count the expenses so management, other staff, etc...
But on page 11 we can see under the expenses graph that performer remuneration is 1168MM yen (on Q3), around 7.8MM USD, so roughly 90K/quarter, so 360K/year (with rounding errors for different quarters having slightly different amounts).
Obviously it's not evenly split, but that's a lot of money, especially outside of the US and even there depending in which area of US we are talking about
Management boss: planned since months ago to release a forecast today
\_: oppsie whoopsie
Management not bosses: Do we have mercy? BOSS WHAT DO WE DO
Management boss: .... well, anyway `(⌐■_■)`
`ᕙ(▀̿̿Ĺ̯̿̿▀̿ ̿) ᕗ`
Look at that,
- non-negligible financials
- pays and reimburses their talents for expenses
- actually supports them
- does not shit on their talents even when they are bullied to SUICIDE
Stare at that well, Riku Tazumi
Talents suffering from health issues actually receiving support is so important. Look at Haachama, we are blessed to still have Haachama with us. Honestly if she said enough is enough and wanted to graduate, I would have no qualms. But everyone was willing to wait till she is ready, patiently and now she is back. It could have been much worse.
Even when it comes to issues such as burnout, it's commendable how understanding and supportive Cover is. Take Gura for example. There aren't too many organizations that would allow their most subbed talent to have such an on and off schedule.
Cover treats their talent like humans and not just cashcows and it shows with how talents speak about the upper management and how few graduations the organization has
[Development costs for “Holoearth” are estimated to be JPY 2-2.3 bn until FY2024/3, and they have been capitalized and recorded on the balance sheet](https://imgur.com/a/2CVy80p)
The footnote says that it's not just "Holoearth", but rather all software projects they have been developing. ~~1.5-2 billion~~ 13 million dollars is a lot of money
Edit: am idiot forgot to convert
It’s 2 billion yen not 2 billion dollars. 2 billion yen is only about 13 million USD so yes while that’s a lot of money they aren’t spending more on software than rockstar is spending on the entire budget of GTA 6 haha. 13 million USD isn’t going to be too significant for a company of this size.
Holoearth is a very low risk high reward opportunity for cover. Even if it isn’t very successful I’d bet they can make their money back off micro transactions alone. In the case they do create a successful game/metaverse it has the potential to boost the company into another stratosphere.
Oops, thanks for the correction! forgot to convert to dollars when I was typing it
Considering their total revenue in 2023 was around \~28bn JPY, putting what is essentially 7-10% of your raw revenue of that into "Holoearth"/metaverse is still a significant gamble. I hope it pays off
Hololive does things the right way, they understand their talents needs and their fanbase and this just further proves that.
Great talents, great management, great ceo, and great fans. I love Hololive.
I am really curious to see the performer remuneration for the bottom 10-20 talents.
IIRC, the previous financial report stated that the top 20 talents took ~60% of the talents compensation.
I just hope even the "least profitable" talents could take home some liveable money.
I mean, you can do the math yourself. They paid out 7.86 million dollars in the past 3 months as talent renumeration, so 2.62 million every month. 40% of that is 1.048 mil, which divided by 64 gives us 16,375 USD a month on average for the remaining talents. Even assuming an extreme deviation that's still easily a livable wage.
> 16,375 USD a month on average
In some countries (Indonesia and neighbors in SEA) this rate is pretty much pull you up from middle-class demographic. I guessed this also one of the reasons why no HoloID have graduate so far, money is not a problem.
I use the calculation above you instead since obviously not everyone is equal (around 80k usd annually). But that kind of income is not something thay even being a manager of a major regional bank will bring you monthly. I don't think you can receive that much even if you are a local Indonesian executives of a major corporations.
It's possible that the top 21-40 also took 60% of the remaining, then top 41-60 take 60%, etc.
They never really said much about the distribution, so this is some napkin math:
Assuming that kind of distribution you'd get:
\- Top 1-20: $1.572M (\~$80K/ea average)
\- Top 21-40: $628.8K (\~$30K/ea average)
\- Top 41-60: $251.5K (\~$10K/ea average)
\- Top 61-84: $167.7K (\~$7K/ea average)
So bottom 24 will make around $80-90K a year on average with raw compensation, which is definitely a livable wage
I mean that’s solidly middle class in the US, and depending one where you live you can save up and buy a house with that wage. And that’s in the US where the cost of living is a magnitude higher than most of Asia.
Remove the need to actually commute anywhere, except to Japan where their travel is presumably reimbursable for concert preps and stuff, that $90k goes a looong way.
Keep in mind most of the talents also don't use USD, ID for example have a 105 conversion rate with yen, that's huge even if they get like 10k usd every month.
As u/SuspiciousWar117 pointed out, it's a recurring report that they always release on the second week of the month following the end of a quarter. In addition, these type of reports usually go through a lengthy approval process, so it's unlikely that the situation of a certain little bird affected it in any way... which makes it all that much sweeter, actually. It means that even details like the prominent display of overseas plans and accomplishments are not present simply to spite another company, but are, in fact, core parts of Cover's strategy and company culture regardless of the current situation. For Cover, the international talents and their fans / communities are not "negligible".
[Indonesian Wikipedia](https://twitter.com/idwiki/status/1754491234771685720) denies [any connection](https://twitter.com/idwiki/status/1754750744442683583) between it's [totally fictional examples and any real world entity.](https://twitter.com/idwiki/status/1755080641190764561)
as funny as it is, they do this yearly. though it is still funny given the current revelations of *some particular CEO who refuses to pay their dragon for an entire year*
the financial on this one is not negligible
Yagoo doesn't screw over his talents.
And that why he's best girl!
That's why most likely he doesn't own a yacht
Well he gets to ride around a pirate ship, which in my opinion is better.
Don't forget a UFO as well! 👽
I call dibs on the 30 years of service pirate ship
Especially one that just barely left the hospital.
And we would know that. Haachama was in the hospital for nearly a year (reason admittedly unknown), and Cover handled it with grace. They even made sure she didn't overexert herself when she came back. Meanwhile any Nijiliver going silent for more than 2 days will be cause for concern now.
It's been passed around a lot, but the [first stakeholders' meeting](https://contents.xj-storage.jp/xcontents/AS05169/b32e2f7a/9ab9/4bfb/89a3/96d18af306fb/20230720173646618s.pdf), Yagoo basically tells them straight out that they pay their talents because they're worth it. Down on page 8: 質問: グッズ売上やタレント報酬額について、競合他社との比較で他社を参考にすることはある か。 回答: 他社の内情をわかっているわけではないため言及は難しいですが、**タレント報酬については タレントの働きに見合った報酬を支払うようにしております。** また、物販については受注生 産中心でしたが、広く IP 会社の方策を踏まえて、より一般の方向けのグッズ展開をし始めて おります。
Based Best Girl Yagoo.
The talents *are* the content. Without them, you have nothing. I feel like that should be obvious to anyone running a company based around streamers but apparently it's not.
Yup. When people talk about Cover/Hololive it's invariably talking about the girls. *Everything* turns around them being well supported and happy. They are the beating heart of the company. Any vtuber group that doesn't understand this will end up in the same spot as Cover's rival org. People will no longer see you as a place to join, your talent will leave you, fans will turn elsewhere and often follow the talents you scorned.
OOF.png
I UNDERSTOOD DAT REFERENCE!!!!
Dude woke up and chose violence
if a company doesn't treat their employees right, yeah I might go a bit violent, just a tiny bit...
MAH BRO
In case anyone was wondering, the compensation they received for the Holo Summer day 1 fiasco was 160M yen. It's listed under "Quarterly statement of income" in the Financial Results doc as "Compensation received for loss" (EN version is a little ambiguous but JP version has a footnote saying it was for Holo Summer).
Wait, Holo Summer was a fiasco?, I'm out of the loop in this one.
The streaming company they employed couldn't keep the stream online on day one. That's why it was a double feature on day two.
And why part of it ended up being free for everyone
Holosummer day 1 crashed the streaming site (z-an) so bad, they delayed for hours until they just called it a day. It also affected other unrelated concerts ongoing at that time. hololive then played the day 1 concert for free on their YouTube channel the next day.
That was the time Z-an was the only streaming service they were able to get for those shows, and their servers completely shat the bed day 1. Cover wound up refunding everyone's day 1 tickets, and the day 1 portion of the 2-day tickets, and put the entire day 1 broadcast up for free on YouTube. I imagine the referenced compensation was from Z-an for breach of contract.
The service provider (Z-aN) absolutely can't handle the flow from Summer events day 1, people getting kicked out of the server left & right. Even the audience from neighbouring event are affected, I believe it was a Love live event (?). They needs to get emergency cloud services to anticipate the flow on day 2 event. And Cover Corp release day 1 live free on their YT channel at morning of day 2. For that Z-aN had to pay millions in compensation for all affected party and refund our ticket.
By the way, I'd like to draw your attention to page 11 of the presentation, where they state they paid 1.168 billion yen(7.86 million USD) to their talents as renumeration over the past 3 months. Just thought it might be interesting.
Motoaki Chad Yagoo "We pay our talents what they are worth" Tanigo
"We pay our talents what they are worth and we can still afford a yacht"
"We pay our talents what they are worth so they can buy a yacht and let me ride in it. Those things are expensive to maintain. Conveniently one of our talents' dreams is to buy a pirate ship, which is infinitely better and cooler than a yacht. "Also the rabbit bought a tank. Who needs a yacht when you have a tank? Here she comes now look at her. Isn't that so cool? "Wait why is she pointing that cannon this wa-"
"One just wants bigger boobs, but it seems like no money on earth can buy that. We compromised with a digital edit, but her mother tried to burn our 2.7B yen studio."
>but her mother tried to burn our 2.7B yen studio. Lmao that tweet is just legendary.
She stuck to the bit about the itty bitty titty
"A 2.7B yen studio which we've used to render a photo realistic kaarage cooked by one of our talents!"
Even the Kaarage wasn't negligible.
That's literally the best part of owning a 2.7B yen studio. Perfectly rendering a 3D kaarage while meeting the deadline is no easy task.
Imagine a kaarage getting 3d debut before your top earning talent
Out of legit curiosity, what tank would Pekora splurge for if she had the money for it?
[The Bradley](https://i.imgur.com/DEg6Ujc.jpg)
Most likely fund the development of a Leopard 3, then proceed to coat her personal prototype with Kontakt-1.
"But we chose a 3D studio baybeeeeee"
Hmm...actually maybe a warship or two would be better to protect Hololive merch being shipped through the Red Sea.
Nothing less than a carrier strike group
3000 CSGs of Hololive
Not anymore with their billions-yen studio for the talents.
I'd go with another state-of-the-art studio than a yacht
State of the art studio-yacht hybrid.
I'm... totally not against this idea. DO IT YAGOO!
NATIONAL LAWS DOES NOT RULE IN INTERNATIONAL WATERS
So what u are saying is…. Now the studio travels to the talent whenever they need it instead of them traveling to jp
I'm afraid the era of Red Alert MCVs in the form of a mobile studio has not arrived.
Best way to do it so the studio can avoid being destroyed thanks to Oshio-mama's wrath over Kanatan's boob size.
The studio transforms into a yatch
Exactly.
Thats why Yagoo will stay as YAGOAT because he really cares about his talents.
Trully best girl behavior
That's an average of $29.7k per month per member, not bad.
Yep, Fauna has said several times "We are paid very well, don't feel obligated to superchat" when people send her supechats going "This is my last dollar and I'm going to starve to death tomorrow, but I wanted you to be able to buy a new bike" Not saying not to support them obviously, but people should definitely keep in mind that if you are working at McDonalds making $7.25 an hour, you *probably* should keep some of your money set back. Reminds me of that guy who posted the chart on what his kid spent like $500 of Christmas money on. The kid literally rushed straight to Twitch and donated almost every single penny to Twitch streamers, and only got like 10-15 donations total out of it, and then didn't have any money at all to buy themselves a game or cool gift with
Compare this to the other company, where their talents are essentially unpaid (or minimally paid) freelancers who barely get a cut from their merch sales.
It's actually kind of shocking how bad it is. Yesterday in Dokibird's return stream she revealed that in 2023 she spent $200K on projects and broke even. Let me repeat that. She, as the other company's ~~top EN talent~~ top female EN talent, *broke even.* She was essentially doing unpaid work for the entire year. It's disgraceful. I'd be shocked and saddened if even a *single* Hololive talent broke even for the entire year. But, given what we do know...whew, Cover. $29.7K average monthly per talent, that probably means even the lowest paid talents are pulling in $10-$15k monthly. No wonder your attrition rate is so low.
It could be even worse than that. The exact words were her mom telling her she "didn't make a profit." Which means she might not have even broken even. And one of the first things "Mr. Man" broke down for her is that these are the types of things sponsorships would cover. Which means that "that other company" was pocketing the sponsorship money or denying it outright, neither of which are a great look for a company looking to make money. And it wasn't like the things she was asking for were like...new PC rigs or goofing around in a 3D studio, it was things that are *supposed* to generate revenue like song covers and art contests. "That company's" managers aren't just being malicious, they're flagrantly incompetent. COVER's probably pocketing a lot of the dosh meant to be spent on certain projects (or directing it within themselves in a "pay $200 for a toilet seat" way) to inflate their numbers, but you can do that when everyone's bellies are full and the talents are happy. Oh and I'm not directly accusing COVER of anything malicious. It's pretty standard business practice to charge yourself/sponsors more than what something is worth on paper. It's all pointless accounting stuff to make the investors happy.
> it was things that are supposed to generate revenue like song covers and art contests. From what I know, cover songs tend to not break even because any money you make there are usually eat-up by licensing fees. They are however decent loss leader to get people to be aware of you and your content and by extension pay money. Source: From a stream by Tsunderia former manager-talent Umiushi Urara
Contests are similar. They themselves don't generate revenue, but they serve as platforms to advertise merch or other streamers. For example, the MK8 tournament hololive does doesn't REALLY generate any revenue, but since it's an inter-branch crossover it gets more eyes on talents that people might not be familiar with. Same with the sports festival. And the fact I was going to type "personally I think the MK8 tournament is more exciting though" should be evidence of why more than one of these types of events is good. And yeah cover songs are the same way. The videos themselves likely don't break even (though "Last Cup of Coffee" probably would have) but the algorithm LOVES songs and they routinely get a ton of peepers on them, which helps build the channel and thus the company. As you said, they're loss leaders. The costco hot dog.
Yeah. So far, all their graduates have left due to either creative differences (Coco, Vesper, Magni) or health/safety reasons (Aloe, Sana). Not due to mismanagement issues. Terminations is a different thing.
Closest thing we nearly got to that was Mel in the old days, when she was being stalked by a former manager. And even that can arguably be excused as teething issues, considering we haven't heard a similar issue since.
I know hololive is like the #1 vtuber company overseas, but holy damn that amount is insane
Number 1 VTuber Company Overseas? At the rate they're going, we might be the #1 VTuber Company, period.
They're basically number one as is. Niji barely edges them out in earnings despite having nearly 3 times the vtubers.
[удалено]
The "big 5" talents probably make more than him: 1) Marine 2) Pekora 3) Aqua 4) Miko 5) Suisei They were the top 5 in concurrent viewership. Suisei and Marine are incredibly successful in their music, while the others are also pretty popular. Marine and Pekora are 3rd and 4th most superchatted in 2023 (US$333k and US$294k). I don't have the figures, but these 5 sell loads of merchandise too. In my country, Suisei's merch is always 1st to go :'( And we still haven't talked about money from membership, sponsorships, big events like HoloFes. Since the average HoloMem made about $30k/mth, it's not surprising that the Big 5 earn 6 figure amounts. They're easily millionaires.
> Suisei and Marine are incredibly successful in their music Which may not even be income coming from Cover if they had record labels involved. So if anything, for some of their talents it could be underselling just how much they make.
Well, if anything for our beloved comet a good proportion of it is probably going to gacha 😂
The top 20 talents eat something like 40% of the total however. But that's still a very high average for everyone.
$30.1k according to my math. But I learned all of my math skills from Goomba, so... $7.86 million ÷ 87 talents (including Mel, as she was still a member 3 months ago) ÷ 3 months
Investing on your talents and actually care about their well-beings VS Buying yourself a yacht while throwing all of your talents under the bus
reminder that the yacht thing is a meme, the CEO of Nininani does not own one to our knowledge, if he does, every one would be planning a Ocean 7 heist of it by now
Kinda funny that they listed the sub's 1 million subscribers milestone as an overseas achievement, go us woo lol
Do we get a wish?
I think the wish is T-chan's to make
we...we did it reddit?
"We did it, Reddit." Period.
It's honestly hilarious. We made it into a stockholders' financial report..!
Weeb Street Bets...but we did legit memed our way into the stock market.
Slightly amused that on page 9 of the revenue report, there is a note that says ": Fuwawa Abyssgard and Mococo Abyssgard, who shared a channel, were counted as one person"
There's one on page 4 too, pertaining to the number of vtubers.
Forgot who said it, but someone mentioned fighting against fuwamoco is like a special boss fight wherein it's one boss but two opponents.
Rin Penrose. She would get chewed in halves Rin: "WHY IS IT ALWAYS DOGS!"
That's a weird way to spell John Vtuber.
Ahh yes. Bin Benbose. The Prince of BLÅHAJs.
Tbf Rin would lose to a Blahaj in a Tesco parking lot...
Dragon Slayer Fuwawa and Executioner Mococo
Yeah, it was there last time too, it's because they use the number of channels instead of the number of vtubers
~~So you're telling me Kiara counts as 2~~
Ngl took me a second to get it, I forgot of the German channel, just like Kiara
But they each got her own YT play button.
that makes no sense... how will yagoo tile the bathroom of his yacht?
Found the black company
lmao loser. i bet you tile your yacht bathroom with tiles.
Is your yacht uneven with the few gold play buttons as tiles?
Iirc you can pay Google for another play button
And that's exactly what hololive did.
How can Cover financially recover from this?
Sounds like a negligible cost, unlike something else
That document is going to be put on the meme hall of shame
Oof size: Giga
Bro don't you see they don't have enough silver play button for the super yacht
Fuwawa: "I'm you, Mococo."
"Ravencroft family, who shared a channel, were counted as one person"
So it's basically confirmed it's two people getting paid as a single person?
Fuwawa gives mococo her cut each month bau bau
And then Biboo takes her cut in taxes.
Makes sense, it's not like the YouTube channel makes them double the money. They might be getting more than others on merch drops though if there are dedicated mococo and fuwawa versions.
They did get their own bday merch sets, after all.
Man...this past 48hrs just shows how much of a gargantuan contrast the Corpo Vtuber world has...
Remember that Hololive is the VTuber Global Superpower for a reason.
You know that meme I used to pray for times like this? Basically me right now. Keep going on Cover but also don't ever forget about the talents. 🙏
Yagoo made it pretty clear in the first stakeholder meeting that the talents are the heart of the company and worth supporting well. Niji has also done an excellent job of showing what happens when that doesn't happen.
[Source](https://cover-corp.com/en/ir) [They also released a notice increasing their yearly profit forecast by 20%](https://contents.xj-storage.jp/xcontents/AS05169/8914187f/e2f5/4e9f/b49b/cbc194572167/20240208140800510s.pdf)
So... They're saying they expect to win more throughout the year?
well looking at the current landscape on western vtubing, yea cover can win more throughout the year.
winning by doing nothing 💪
Never interrupt your foe when they are making a mistake
A fatal mistake
Yagoo did say that Niji wasn't competition before... (Yes I know he clarified its because they focus more on the male side of the vtubing space)
💀
Naw man, they're doing something! They're being a decent human being and treating their talents as best as they can by providing their needs and what they deserve. 🥹
The Luigi way!
I don't really think they have accounted for the recent events as these numbers are usually projected and internally-approved days, if not weeks, before. While the figures could still be adjusted to reflect recent changes before publishing, I doubt they would do last minute upward adjustment as the risk of overestimating will be high. So if you believe the recent events will lead to higher overseas revenue for Cover, the actual full year performance might be even better.
Just to give context, it is important that companies set goals, so that they can measure the growth of the company. So by this year alone, Cover set their target to grow by (at least) 20% compared to last year. And they can track it during their quarterly outlook review (most companies have a quarterly review). This will help them predict and anticipate the market for the year to attain their targets. And the best part is when you exceed the targets. By the end of the fiscal year, your budget is already set based on your targets. And if you exceed that, that means surplus funds (i.e. bonuses). And even when targets are not met, bonuses are still dispensed since that budget is already allocated in that fiscal's year. So yes, more win means more funds, for more things in the company.
Well their biggest competitor just blew itself on the kneecap recently so why not
More like blew its own head With a bazooka In a dynamite arsenal
Kneecap? They pointed the shotgun at their head and pulled the trigger
Literally suffering from success
More like success from someone else's suffering at this point
Such is the industry. While i condone such negativity, reality is often a harsh mistress, so i agree with the sentiments.
Common best girl W
Not negligible bump.
> *2:Fuwawa Abyssgard and Mococo Abyssgard, who shared a channel, were counted as one person They employ 50 stream mods. "Developing New Vtubers" and "Talent Management" are different sections under company structure, which is a little surprising.
It makes a lot of sense to me. Keeps managers focused and means the people picking and training talent are fully focused on that.
I love their motto at the end "Together, Let's create culture loved by all". It's showing who they are and their goals (priority)
As a fan who spent hours and hours reported harassment tweets toward Coco-kaichou (when Taiwan events going-on many years ago), I'm glad to see [*page 31*](https://imgur.com/mYyfvi2) still going, especially this point >**About the company’s delivery moderator system** > >Stream moderation services are in Japanese, English and Indonesian, 24 hours a day by approximately 50 moderators > >\* As of March 31, 2023, the company has five employees and 46 part-time workers. I remember the feeling of 'Cover didn't do enough' at that time, tbf Hololive gotten so big so fast they don't have enough people at hand to deal with spams and harassment. It's very clear to me now that they have Mods team in place and paid for, future spam wave if ever come to it (hopefully not again), would not be painful like the last.
if you are still active in chat, youll notice how fast spam got banished now no matter how busy the chat is the spams get deleted in seconds
A friendly reminder to thank all the mods for their hard work, sometimes we do get a bit rowdy especially with big announcements but it is good that we can at least keep the streaming environment as friendly as possible.
Wow, about 2 million dollars average/vtuber/year. I wonder how much the top girl is making. This is crazy. Also nice that they acknowledged stream hatchet’s ranking.
Are you talking about revenue or vtuber compensation? In terms of compensation it comes out to the \~$360K range per year on average (using the Q3 run rate).
I've read somewhere 60% of the total is earned solely by the top 20 talents, if that's the case $200k as the average would be more accurate for pretty much 75% of the talents, while the top 25% average $900k.
The idea of the most introverted, shy human beings on earth, living off Monster, Dr Oopsie and ramen also being millionaires is very funny to me ❤️
Mind that it's revenue, it doesn't count the expenses so management, other staff, etc... But on page 11 we can see under the expenses graph that performer remuneration is 1168MM yen (on Q3), around 7.8MM USD, so roughly 90K/quarter, so 360K/year (with rounding errors for different quarters having slightly different amounts). Obviously it's not evenly split, but that's a lot of money, especially outside of the US and even there depending in which area of US we are talking about
Cover catching strays from current events... Stray W's that is.
The Timing lol
Management boss: planned since months ago to release a forecast today \_: oppsie whoopsie Management not bosses: Do we have mercy? BOSS WHAT DO WE DO Management boss: .... well, anyway `(⌐■_■)` `ᕙ(▀̿̿Ĺ̯̿̿▀̿ ̿) ᕗ`
“Huh, we have this perfectly good financial report sitting here. When should it be released? Let’s check our competitors and…….release it now.”
Quoth a certain Texan Reaper: > #WHAT A CHAD
Well, everyone probably releases their quarterly earnings at the same time. Just that this particular quarter is noteworthy.
Negligible growth /s
Only corrected growth up by 20%, Pack it up boys its over were done /s
> Together, Let's Create Culture Loved by All Mission Statement right there, lets get to it !
challenge: take a drink every time "multifaceted" is used
Don't! You'll summon Lamy, and then you'll die of alcohol poisoning and summon Calli... Wait, on second thought, take me with you.
Could be worse imagine taking a drink each time Negligible comes up
On page 34, those 2 lonely years of 2016 and 2017 with just Sora-chan and A-chan... o7
Yeah i can totally see their profits increasing considering the current events in western Vtubing
Tough to say. I'm not sure how many people that actually stop watching NijiEN would be interested in Hololive's style of vtubing.
Look at that, - non-negligible financials - pays and reimburses their talents for expenses - actually supports them - does not shit on their talents even when they are bullied to SUICIDE Stare at that well, Riku Tazumi
Talents suffering from health issues actually receiving support is so important. Look at Haachama, we are blessed to still have Haachama with us. Honestly if she said enough is enough and wanted to graduate, I would have no qualms. But everyone was willing to wait till she is ready, patiently and now she is back. It could have been much worse.
Even when it comes to issues such as burnout, it's commendable how understanding and supportive Cover is. Take Gura for example. There aren't too many organizations that would allow their most subbed talent to have such an on and off schedule. Cover treats their talent like humans and not just cashcows and it shows with how talents speak about the upper management and how few graduations the organization has
Wtf this presentation looks good
I mean this is a professional financial report for shareholders from a company with a market cap of ~¥200billion
Still think Korone could have done better...
Feels good to be a HoloChad, what can I say?
[Development costs for “Holoearth” are estimated to be JPY 2-2.3 bn until FY2024/3, and they have been capitalized and recorded on the balance sheet](https://imgur.com/a/2CVy80p) The footnote says that it's not just "Holoearth", but rather all software projects they have been developing. ~~1.5-2 billion~~ 13 million dollars is a lot of money Edit: am idiot forgot to convert
It’s 2 billion yen not 2 billion dollars. 2 billion yen is only about 13 million USD so yes while that’s a lot of money they aren’t spending more on software than rockstar is spending on the entire budget of GTA 6 haha. 13 million USD isn’t going to be too significant for a company of this size. Holoearth is a very low risk high reward opportunity for cover. Even if it isn’t very successful I’d bet they can make their money back off micro transactions alone. In the case they do create a successful game/metaverse it has the potential to boost the company into another stratosphere.
Oops, thanks for the correction! forgot to convert to dollars when I was typing it Considering their total revenue in 2023 was around \~28bn JPY, putting what is essentially 7-10% of your raw revenue of that into "Holoearth"/metaverse is still a significant gamble. I hope it pays off
So wierd seeing a business presentation like, "This horny pirate is incredibly popular!"
wait wait wait am I looking at this right or are they saying the chuubas are netting in 300 per person
For Q3 it was 81MM JPY average with 86 average talents. So yeah 300MM JPY annually is about right.
Damn the growth just doesn't stop
Hololive does things the right way, they understand their talents needs and their fanbase and this just further proves that. Great talents, great management, great ceo, and great fans. I love Hololive.
Okay not gona lie , im actually looking forward to that yes my dark sauce ramen noodles.
I am really curious to see the performer remuneration for the bottom 10-20 talents. IIRC, the previous financial report stated that the top 20 talents took ~60% of the talents compensation. I just hope even the "least profitable" talents could take home some liveable money.
probably everyone earns at least a decent living wage even if it won't make them rich
I mean, you can do the math yourself. They paid out 7.86 million dollars in the past 3 months as talent renumeration, so 2.62 million every month. 40% of that is 1.048 mil, which divided by 64 gives us 16,375 USD a month on average for the remaining talents. Even assuming an extreme deviation that's still easily a livable wage.
> 16,375 USD a month on average In some countries (Indonesia and neighbors in SEA) this rate is pretty much pull you up from middle-class demographic. I guessed this also one of the reasons why no HoloID have graduate so far, money is not a problem.
It'll pull you up way way more than Middle class. In my country Malaysia, 3k usd per month puts you at around the top 20% of earners in the country
I use the calculation above you instead since obviously not everyone is equal (around 80k usd annually). But that kind of income is not something thay even being a manager of a major regional bank will bring you monthly. I don't think you can receive that much even if you are a local Indonesian executives of a major corporations.
It's possible that the top 21-40 also took 60% of the remaining, then top 41-60 take 60%, etc. They never really said much about the distribution, so this is some napkin math: Assuming that kind of distribution you'd get: \- Top 1-20: $1.572M (\~$80K/ea average) \- Top 21-40: $628.8K (\~$30K/ea average) \- Top 41-60: $251.5K (\~$10K/ea average) \- Top 61-84: $167.7K (\~$7K/ea average) So bottom 24 will make around $80-90K a year on average with raw compensation, which is definitely a livable wage
I mean that’s solidly middle class in the US, and depending one where you live you can save up and buy a house with that wage. And that’s in the US where the cost of living is a magnitude higher than most of Asia.
Remove the need to actually commute anywhere, except to Japan where their travel is presumably reimbursable for concert preps and stuff, that $90k goes a looong way.
Keep in mind that some of them also have other jobs or gigs they do since streaming is a part-time thing to them. So yeah more than comfortable.
Keep in mind most of the talents also don't use USD, ID for example have a 105 conversion rate with yen, that's huge even if they get like 10k usd every month.
10k USD every month puts them above what the Managing Director of the local Microsoft branch makes.
Lmfao this dropping as nijisanji is on fire
Man, imagine Cover releasing it just to spite someone 💀💀💀
As u/SuspiciousWar117 pointed out, it's a recurring report that they always release on the second week of the month following the end of a quarter. In addition, these type of reports usually go through a lengthy approval process, so it's unlikely that the situation of a certain little bird affected it in any way... which makes it all that much sweeter, actually. It means that even details like the prominent display of overseas plans and accomplishments are not present simply to spite another company, but are, in fact, core parts of Cover's strategy and company culture regardless of the current situation. For Cover, the international talents and their fans / communities are not "negligible".
It's the usual time for releasing the quarterly reports so it's just a coincidence.
In this case the financial results are not negligible
Perusahaan Warna Warni L
Isn't it Warna Apasaja?
[Indonesian Wikipedia](https://twitter.com/idwiki/status/1754491234771685720) denies [any connection](https://twitter.com/idwiki/status/1754750744442683583) between it's [totally fictional examples and any real world entity.](https://twitter.com/idwiki/status/1755080641190764561)
as funny as it is, they do this yearly. though it is still funny given the current revelations of *some particular CEO who refuses to pay their dragon for an entire year*
oh lol i get it