AbemaTV, the Japanese streaming service backed by CyberAgent Inc. and TV Asahi, reported narrowed losses for fiscal 2024 as it pushes toward profitability through investments in anime content. The company’s operating loss shrank to ¥6.77 billion ($45.1 million) from ¥16.1 billion a year earlier, while revenue rose 17% to ¥52.5 billion.
Despite showing improved financial metrics, the streaming platform’s accumulated losses have reached ¥135.6 billion, highlighting the massive scale of investment required to compete in the video streaming market. The company’s leadership sees this as a competitive advantage, creating high barriers to entry for potential rivals.
CyberAgent President Susumu Fujita indicated the company is shifting focus toward developing original intellectual property, citing the success of their “Uma Musume: Pretty Derby” franchise. With anime viewers comprising half of AbemaTV’s audience, the company plans to leverage its recent acquisition of Nitroplus to strengthen content creation.
The platform’s quarterly results showed profitability in peripheral businesses, suggesting the company’s strategy of heavy investment in content production is beginning to pay off, though significant challenges remain in achieving sustained profitability.
