Cover Corp., the Japanese entertainment company behind virtual YouTuber agency hololive, reported a 50% jump in nine-month revenue, driven by strong sales of its trading card game and successful concert tours.
Revenue climbed to 28.9 billion yen ($193 million) in the April-December period, while operating profit increased 59% to 5.5 billion yen. The company’s merchandise division saw the strongest growth, with sales surging 77% to 14.3 billion yen on better-than-expected performance of its hololive OFFICIAL CARD GAME.
The Tokyo-based firm capitalized on its virtual talent roster through multiple sold-out concerts, including Miko Sakura’s “flower fantasista!” and Suisei Hoshimachi’s “Spectra of Nova” tour. Live event revenue rose 46% to 3.8 billion yen.
Cover raised its full-year forecast for the second time this fiscal year, projecting revenue of 42 billion yen, up from its previous estimate of 36.5 billion yen. The company expects operating profit of 7.4 billion yen.
The streaming content division, which manages Cover’s virtual talent agency, saw revenue increase 23% to 6.7 billion yen, while licensing deals grew 33% to 4.1 billion yen as more companies sought partnerships with its virtual entertainers.
