VTuber agency ANYCOLOR raised its annual earnings forecast after first-quarter results that more than doubled from a year earlier, driven by strong merchandise sales and concert attendance that exceeded management projections.
The operator of the Nijisanji virtual influencer brand now expects revenue of ¥50-52 billion ($338-351 million) for the fiscal year ending April 2026, up from its previous guidance of ¥49-51 billion. Operating profit forecasts increased to ¥20.5-21.5 billion ($139-145 million) from ¥19-20 billion previously.
ANYCOLOR’s first-quarter revenue surged 112% to ¥15.77 billion ($107 million), while operating profit jumped 157% to ¥7.0 billion ($47 million), according to results released Tuesday. Net income nearly tripled to ¥4.88 billion ($33 million).
The Tokyo-based company attributed the outperformance to stronger-than-anticipated sales of merchandise tied to anniversary celebrations and seasonal campaigns featuring its 165 virtual YouTubers. The Nijisanji World Tour 2025 concerts also drew larger audiences than expected, with online ticket sales significantly exceeding projections.
Commerce revenue, which includes branded merchandise and collectibles, expanded beyond initial plans as the company strategically managed pre-and post-event sales of concert-related goods. Event revenue similarly outpaced forecasts as live performances resonated with fans globally.
ANYCOLOR has emerged as a dominant force in Japan’s rapidly expanding VTuber market, which research firm Yano Research estimates reached ¥52 billion in fiscal 2022. The industry has attracted corporate sponsorships and brand collaborations as virtual influencers gain mainstream acceptance.
The company’s Virtual Talent Academy has become a pipeline for new performers, with management targeting 10-15% annual growth in VTuber debuts. ANYCOLOR ID registrations, required for merchandise purchases and fan club access, climbed 31% to 1.77 million accounts.
Despite the strong domestic performance, ANYCOLOR has faced headwinds in international markets. Its English-language division, Nijisanji EN, experienced significant revenue declines in previous quarters, challenging the company’s global expansion efforts.
The revised forecast reflects management’s confidence that momentum will continue through the remainder of the fiscal year, with additional concerts and merchandise campaigns planned. The company maintained its guidance as a range to account for variables including debut timing of new VTubers and overall fan engagement levels.
