Cover Corp., the parent company of VTuber agency Hololive Production, reported a 44% surge in profits for the fiscal year ended March 2025, driven by exceptional sales of its trading card game and expanding global live events. The Tokyo-based entertainment firm posted revenue of ¥43.4 billion ($290 million), up 43.9% year-on-year, with net income reaching ¥5.56 billion ($37 million).
The company’s merchandising division skyrocketed 64.6% to ¥20.54 billion ($137 million), powered by its “Hololive OFFICIAL CARD GAME” launched in September 2024, which vastly outperformed expectations. Live events revenue climbed 39.1% to ¥7.79 billion ($52 million), bolstered by Hololive English’s North American concert tour and the company’s first world tour.
“Record attendance at our annual Hololive SUPER EXPO and expansion of retail distribution channels contributed significantly to our growth,” said the company in its earnings report.
Despite forecasting continued double-digit revenue growth of 21% to ¥52.5 billion ($350 million) for fiscal year 2026, the company expects more modest profit growth of just 2.5% due to planned first-half investments in future business expansion. Cover plans to strengthen its international presence, including bringing its successful trading card game to overseas markets.
