NTDOF - Cover Corp.: A Leading Virtual Entertainment Company With Multiple Avenues For Growth

2024-05-20 12:58:50 ET

Summary

• Cover Corp. is a leading virtual entertainment company specializing in VTubers, or virtual YouTubers.
• The company is transitioning to an IP-focused business with opportunities in merchandising and licensing representing high quality growth and opportunities for margin expansion.
• Cover Corp.'s investments in the gaming space represent a call option on future growth and the potential to bring in even more high-margin revenue sources.

Cover Corp. ( COVCF ) is a leading virtual entertainment company based in Tokyo, Japan and founded in 2016. The company specializes in Virtual YouTubers, or VTubers for short. We believe the company is an attractive investment opportunity based on long-term growth prospects from international expansion and margin expansion due to the ongoing focus on transitioning into an IP-licensing and management company.

What is a VTuber?

A VTuber is essentially a live streamer that uses an animated avatar in lieu of a facecam. Content in the VTubing space is just as diverse as it is among traditional streamers. Some VTubers focus on gaming content while others will focus on chatting streams, music, art, or some combination of the above....

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