17LIVE has acquired 100% of the outstanding share of N Craft, according to a Nov 4 release.
N Craft is a production company dedicated to developing and managing virtual talents, creating engaging content that connects with fans through live performances and interactive experiences, reads the release.
The acquisition includes the “V-ii” brand, which focuses on nurturing new V-Liver talent and expanding their digital presence.
According to the group, the strategic acquisition, which is in line with the 17LIVE’s Forward Strategy, is set to “bolster 17LIVE’s V-Liver business segment as it adds production and talent development capabilities in the V-Liver space within the group”.
The group says its presence in the virtual content sector will position it to leverage Japan’s anime culture and increasing demand for virtual entertainment.
Currently, the global anime market is projected to grow at a compound annual growth rate (CAGR) of 9.8%, with Japan accounting for over 40% of global revenue. The V-Tuber market, a component of the V-Liver segment, stood at around US$500 million ($658.7 million).
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Under the acquisition, 17LIVE is set to manage the existing V-Liver business and facilitate the transfer of approximately 140 V-Livers into the group. The group says that the The “V-iii” brand will complement the existing roster of V-Livers on the 17LIVE platform and those associated with NexuStella, another production company under the group.
The group adds that both entities are expected to collaborate to “enhance the IP talent business, implement innovative initiatives, and jointly develop a new V-Liver production brand”.
This acquisition is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of the group for the year ending Dec 31.
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Shares in 17LIVE closed 1.5 cents lower, or down 1.58%, at 93.5 cents on Nov 4.
