Shares of Cover Corporation, the company behind Hololive Production, plummeted approximately 10% on April 16 following the announcement that Gawr Gura, the world’s most popular VTuber, will be leaving the agency.
[Announcement Regarding Gawr Gura’s Graduation] pic.twitter.com/U0bu9eYUAk
— hololive production (English) (@hololive_En) April 16, 2025
The Announcement and Its Impact
Gawr Gura’s Graduation Date
The virtual star announced her departure during a livestream on April 16, confirming that her final day with Hololive English will be May 1, 2025. The announcement came after Gura posted a cryptic message on social media stating “I have to talk to you about something tonight,” sparking immediate speculation among fans.
Stock Market Reaction
Cover Corporation’s stock dropped from the previous day’s closing price of ¥2,366 to approximately 10% lower following Gura’s announcement. The market reaction underscores the significant value that top VTuber talents represent for the company’s business model and investor confidence.
Gawr Gura’s Significance in the VTuber World
Record-Breaking Subscriber Count
Gawr Gura is undeniably the biggest name in the global VTuber industry, boasting an impressive 4.56 million YouTube subscribers – the highest of any VTuber worldwide. Her shark-themed character, casual gaming style, and charismatic personality have attracted a massive international following since her debut with Hololive English in September 2020.
Key Figure in Hololive English
As one of the original members of Hololive English’s first generation (nicknamed “HoloMyth”), Gura has been instrumental in Hololive’s global expansion strategy. Her appeal transcends the typical VTuber audience, helping to bring the Japanese VTuber phenomenon to mainstream Western audiences.
Recent Pattern of VTuber Graduations
Previous Notable Departures
Gura’s announcement continues a concerning trend of high-profile departures from Hololive. The exodus began in August 2024 with Minato Aqua’s graduation, followed by Watson Amelia in October 2024, and more recently Ceres Fauna in January 2025 and Sakamata Chloe later that same month.
Upcoming Planned Graduations
The wave shows no signs of stopping, with Murasaki Shion set to graduate on April 26 and Nanashi Mumei scheduled for April 28. Gura’s departure in May will mark the seventh major talent to leave the agency within a nine-month period.
Industry Implications
The consecutive loss of so many popular talents, particularly Gura with her unparalleled subscriber count, raises questions about the sustainability of the VTuber business model and talent management at Cover Corporation. While the company hasn’t released official statements explaining the recent wave of departures, the stock market reaction signals growing investor concern about the future of one of Japan’s most innovative entertainment exports.
For fans, May 1 will mark the end of an era as the iconic shark girl delivers her final “a” – her signature catchphrase that became a phenomenon in VTuber culture.
