Not only is there no one who does not know “VTuber”, it is an era when VTuber offices are listed.
This time, I will try to determine whether ANYCOLOR (5032), which is familiar with “Nijisanji”, is suitable as a long-term investment target.
About ANYCOLOR business
Basically ANYCOLOR is a VTuber office called “Nijisanji”.
Roughly speaking, it’s just that “the VTubers I belong to earn by doing their own distribution”.
Essentially, it will be the same as UUUM and various entertainment agencies.
Activities as a VTuber office “Nijisanji”
There was a page listing the VTubers I belong to on the business introduction page of the official website, but I can’t count them.
According to the official website, there are about 150 people in the Japanese-speaking world alone.
It seems that there are VTubers who distribute on “bilibili” not only for English-speaking countries but also for China. I did not know. Later, I will check the breakdown of sales from overseas.
It is no longer measurable.
Actually, I’m not familiar with the VTuber situation, so this time I’ll focus on the office.
Manager activities, model and application production, goods, music, program production, event planning, promotion with companies.
It seems that this is what they are doing.
If you go through the official website, you will find tie-up projects with companies lined up.
“Shima Spain Village” was a great success at the level covered by the mass media.
It seems that they handle a surprisingly wide range of projects, such as food, smartphone games, and perfumes.
Beneath that, I was a little bummed about what it said, “Luminous looks, low scandal risk.”
Appearance supremacy and the darkness of the industry are transparent like a racy costume.
For me, VTuber is nothing more than “a human being using an avatar to talk”.
But once you see Disneyland.
“Dreams are dreams, doctrine” has been around for decades.
This should be a factor that cannot be ignored when considering the future potential of VTuber itself.
In addition to YouTube, it seems that a light novel comic that looks like an official doujinshi called “Lie:verse Liars How to start a bad ending that makes us happy 1”.
We’ll look at the percentage of sales later, but it’s not expected to be as big as YouTube.
I tried to copy and paste the HTML of the banner on the official site, but I couldn’t get it to display properly.
About “Nijisanji” and audience on YouTube
This was also posted on the official website, but it is probably characterized by being very popular among the younger generation.
Young people can never be said to be rich, but is the composition of “spending the little 30,000 yen a month for a talent with an annual income of 300 million yen” a boost in sales?
Overly enthusiastic spachas run the risk of being regulated by law.
I’ll also look into Super Chat’s share of revenue later.
About closing and finance
As usual, let’s compare the most recent figures from Kabutan’s financial results page.
Both sales and profits have grown explosively, but it seems to be slowing down this fiscal year.
In addition, as I will explain later, the slowdown in growth seems to have caused the stock price to plummet.
June 14 Earnings Summary and Earnings Presentation Materials
I didn’t aim for it, but the earnings report was just released two days ago.
Operating income has increased by more than 100 points year-on-year, approximately doubling.
But what worries me is the performance forecast.
Compared to 2023, when sales increased by about 125% compared to the previous quarter, the forecast for the April term of 2024 is only about 35%. Looking at this alone, growth is slowing down.
What I personally find interesting is that the amount of cash I have on hand has approximately doubled.
I don’t think this will do anything by itself, so I’ll just keep an eye on it.
Financial Results Briefing Materials for the Fiscal Year Ending April 2023
Now, let’s look at the financial results briefing materials.Looking only at this period, sales and profits have doubled.
A breakdown of domestic and international sales is provided.
For the English-speaking world, 1952 out of 7434, or about 25%.
If you think of this as a percentage of overseas sales, I feel like I want you to do a little more.
Regarding the percentage of sales in English-speaking countries, “EN Commerce” accounts for the majority.
What does “commerce” mean?
It seems to be written on this page, but the word “Revenue Share” has never been heard.
“It will be a business model where both parties decide in advance the share of sales or profits and work on it.” Source
I assume that it refers to the “protection fee” that accounts for VTuber’s sales.
What clearly shows the “slowdown in growth” that I mentioned earlier is the change in playback time on YouTube.
It has leveled off.
Is it ‘the market cap has been reached’, or ‘departures are balanced with new viewers’, or is it ‘temporary’? In order to make a reliable investment decision, I would like to have the material to ascertain this.
It featured a list of products for sale, and these images were links to product pages.
Even if the playback time of the video itself is sluggish, is it correct to regard it as realizing revenue from other media such as tie-in (?) sales and merchandise sales?
It seems that events in the real world are also held.
I’m very curious as to how it works.
In addition, according to the sales trend graph above, domestic events account for 5.7% of sales.
However, it means that the event alone has generated sales of 400 million yen.
Expenses are not included. I’m at a loss as to whether it’s okay to see this as high.
Well, a graph like “We will respond to the age of the Metaverse” will appear.
I don’t know if it will go this way, but it can be said that VTubers have already blended into the lives of young fans who are their fans.
As a leading brand of new entertainment in the Internet industry, it is worth considering.
It is written about the profit system that makes use of VTuber.
Rather than simply delivering and receiving a spacha, you can feel the intention to secure a solid income by selling goods, collaborating with companies, holding events, etc.
A story about overseas expansion that will become important in the future.
Although the market size is written, it is impossible to secure all of this, so it is not a number that should be taken seriously.
In addition, there is also a fairly risky story that “the user’s secondary creation will be used for their own branding.”
The percentage of sales for each profit ranking is also written.
The 7:3 rule is here too.
Regarding the diversification of revenue sources.
As I said earlier, about 5%, the contribution to sales itself is not particularly high, but it is an event that will have a big meaning in attracting fans.
There is also an interesting initiative to “perform live viewings all over the country”. I honestly can’t keep up…
This is the end of the financial results briefing materials.
About charts and stock price fluctuations
For the time being, I tried to display the monthly chart.
It’s been a long time since IPO, but it seems that the price movement is quite violent.
In just half a year, the stock price has decreased to about 1/3, and has recovered about half.
Weekly this time. It looks expensive to buy now.
On a daily basis, it looks like the price has just entered a downtrend.
no doubt. don’t buy now
I think we should wait for the price to come down to around 6,500 yen, which is the moving average.
Well, I don’t want to be an expert on short-term trading.
About dividends and shareholder benefits
There are no dividends or shareholder benefits.
I think it would be interesting if I could get limited goods…
At least in the future, if news like “ANYCOLOR adds limited goods to shareholder benefits” comes out, combined with the not-so-high stock price, fans will buy some.It may be an ant to buy it at that time.
Summary,personal comments
We can’t help but feel uneasy about the feeling that the market has been eaten up'' and themomentum of overseas expansion” indicated by the slowdown in growth.
Also, overall, the current situation of “collecting money from existing fans through goods, events, and promotions” rather than “active acquisition of new viewers” is glimpsed.
I felt that the biggest challenge was in “acquisition of new customers”.
I saw a spacha crazy on the internet that was likely to be regulated, so I thought I could ride their enthusiasm for free and considered it, but when I asked whether I should spend my own money and invest, I myself hesitated.
In the first place, I’m a YouTuber myself, so it’s silly to rely on YouTube even for stocks.
Also, like a VTuber, I can’t ignore the fact that I, who has been earning money from YouTuber activities for many years, don’t see any future in YouTube.
I’ve completely removed YouTube from the main focus of my efforts and spend only three hours a day making videos.
Even though it already has over 300,000 registrants and is an early escape group with hundreds of millions of accumulated views.
Well, there’s the fact that I’m just an incompetent one-hit wonder.
After a little more follow-up, if there are changes in the growth of VTubers and charts, we may take some action.
