COVER Corp. is developing its VTuber business hololive production and its metaverse business Holoearth worldwide. The International Business Development Office, which was newly established in May 2024, plays a vital role in increasing the company's presence in the global market. The Office is led by Moeko Suzuki, who has a wealth of experience in the entertainment industry. We spoke to Ms. Suzuki, who has been involved in numerous projects, from producing Hollywood films to promoting Japanese IP overseas, about the global strategy for COVER in an interview split into two parts.
In Part 2, Ms. Suzuki will talk about the overseas business operations she is currently engaged in and her future plans.
Click here to read Part 1, where Ms. Suzuki talks about career to date
From Organic Growth to Strategic Development: Focusing on the Next Stage of VTuber Content Loved Around the World
— Can you tell us about the main work and focus of the International Business Development Office?
We are currently working on a medium-term plan that will take us through the next three to five years. hololive is a very unique case, as it has grown organically outside of Japan without taking any strategic measures. This is an exceptionally rare case even in the industry. We are now in the process of developing strategies for the next stage of growth while leveraging such strengths. The scale of what I can accomplish here is entirely different compared to when I was running my own company. When formulating strategies, I am constantly discovering new insights through conversations with other departments. This makes repeatedly aware of the depth of knowledge that exists within COVER. I see even more potential each time the company comes into sharper focus for me. When running a company alone, I was naturally limited by my own capacity. But now, I feel that I can take on even greater challenges as part of a team filled with experts with diverse skills.
When it comes to overseas development, I’ve found that there’s almost no difference in the passion of our core fans across countries and regions. Fans share a similar level of enthusiasm and love for our content regardless of where they may be. Having said that, how those emotions filter down to the light user base varies greatly by country and region. In Japan, for example, idol and anime culture are already deeply ingrained in society, making it easier to reach a wider audience. In other countries, the journey from core fan to light user requires different steps depending on the cultural context there.
Taking all that under consideration, we are particularly focusing on the North American market. In July 2024, we established COVER USA as our North American base, creating the most strategically advantageous environment for expansion. A US dollar-based market also presents an attractive opportunity from an economic perspective. hololive production is home to a broad roster of talented VTubers, and this diversity allows us to attract fans with a wide range of interests in North America as well. Additionally, through game streaming activities, we have successfully expanded our reach to new fan bases. The way we expand varies depending on the cultural foundations and economic environment, but I am aware that our growth is possible only with the support of our core fans in every region.
— What kind of teams are currently active at COVER USA?
As of December 2024, the business there is operating with a four-person team. Driven by our local leadership, the top priority mission is to obtain licenses in the United States. The sales team is steadily achieving their goals.
Moving forward, we aim to expand business functions there, such as manufacturing of merchandise, while keeping sales activities as the main focus. Currently, VTubers from all regions are primarily under contract with Japan, but in the future, there may be cases where English-speaking performers join COVER USA. We also want to strengthen the support functions and systems for English-speaking performers based in the United States and actively expand these elements as we move forward.
— I’m sure that you often communicate with various counterparts across countries and regions. What do you particularly value in your work?
I value relationships of trust above all else. This is the most important lesson I have learned from my past experiences. Previously, when I was working on “Cool Japan Strategy”-related projects, I faced many situations where I was at the mercy of political agendas. The team that came together to produce a film was initially highly motivated and ambitious, but as they became entangled in power struggles within the dynamics of the organization, they lost their motivation. Such experiences have made me keenly aware of how essential it is to build fundamental trust.
Overseas businesses, in particular, will not succeed if you simply look after the project alone. Like a bridge across a ravine, it is critical to hold the ropes of both sides simultaneously. I feel that the key to success is to find a trustworthy partner who will stick with you.
My experience at COVER confirms this very idea. When I joined the company, the International Business Department that existed was reorganized as the International Business Development Office. I was initially concerned about the friction that might result from the change. Usually, such changes cause a variety of issues due to anxiety that one’s territory will be infringed upon.
However, getting to know the former head of the International Business Department and current leader of COVER USA dispelled my concerns. He has a deep love for the company, many years of contributions, and a very sincere personality. He displayed a naturally cooperative attitude without ego even toward a newcomer like me. Thanks to his sincere attitude, we were able to build a strong relationship of trust at an early stage, which was a very favorable start in promoting our overseas business. This experience made me realize once again how important it is to foster trust when building a global team.
— So a relationship of trust that transcends distance is the foundation for business that expands overseas, isn’t it? What kind of team culture do you hope to build as Head of the Office?
Focusing too much on perfection can lead to an inability to act. Therefore, I endeavor to build teams that value individuality and edginess. Talent with the spirit to take on challenges often exhibit characteristic imbalances in their skill distribution. Therefore, I consider team composition based on the premise that no one is perfect. Everyone has strengths and weaknesses, but I emphasize how we can complement each other’s individuality outside of the basics. Each member is exploring ways to compete in a way that allows them to freely showcase their strengths. Rather than aiming for a score of 60/100 across the board, I am focused on creating an environment where each individual can achieve high results in their own areas of expertise.
Also, I constantly keep COVER’s vision and values in mind. Especially in overseas expansion, all the work cannot be completed by one department alone. I believe that collaboration with other departments is indispensable, and that by sharing our vision and values among them, we can build a more effective team.
— Please share how easy it is being employed at COVER from your perspective as a working mother.
A feature of COVER is that there are a lot of people of child-rearing age, including among the management ranks. I am told that the organization used to be more male dominated, but as the business has expanded, the number of female employees has now increased as well. Of particular note is the depth of understanding of child rearing among management. Among male employees, there are few who leave childcare entirely to their spouses, and there is an environment in which we all care for each other.
We have adopted a flexible work program, with core hours set for each team. My team is set up to work relatively early in the day because we have a lot of negotiations with parties outside of Japan. This allows parents to create a rhythm in their lives, such as dropping off one’s child at daycare in the morning before going to the office.
Beyond the fringe benefits and workstyle programs, I feel that the most important factor leading to a comfortable work environment is that there are many colleagues in the same position and we can understand each other’s situations.
— I am sure that the environment with many people in the same situation will promote understanding quickly and make it even easier to work there in the future. Could you tell us about the ideal leader you aspire to be and what you keep in mind to achieve that ideal?
I start by accepting that I myself am not a perfect person. I believe that I am one piece of the team, and I take care to think about how I can best fit together in the whole. I’m not so particular about traditional elements such as charisma and leadership. Instead, I emphasize the flexibility to adapt according to the situation.
What I am conscious of on a daily basis is the attitude of first believing and accepting myself and others. However, how to accept and coexist with people who have the opposite approach to me is a theme I am constantly contemplating. Each member from each department is a different type, so it is critical to find ways to take advantage of this diversity.
Especially in the case of COVER, there are many jobs that cannot be completed by one department in isolation. And while collaboration with other departments is essential, we need to work truly as One Team and not just division of labor as if we worked on a conveyor belt. How do we function as a team with people who have different goals? This has its difficulties, but that is precisely why I feel it is a worthwhile challenge.
— What is your vision for future overseas business development? And how would you like to roll out the attractiveness of COVER’s content?
Specifically, I believe it is imperative for the company to have established a presence in North America within three years.
We often hear from overseas fans these days that they want official merchandise but cannot get it. This is one of the issues we need to resolve as soon as possible. On the other hand, for those who are not yet familiar with VTubers, it is important how to convey the unique appeal of being able to reach out to each other during live streaming. Since long live streaming can be a high hurdle for some, I’m thinking about creating more accessible entry points for a wider audience.
In a long-term span of 10 years, I would like to accomplish the challenge of VTubers and achieve global results. More concretely, I am aiming for a state where everyone in the world is somewhat familiar with the product. Ten years from now, we will once again be presented a different world and new options.
— If you had to describe the true COVER in one phrase, what would it be?
It would be “Cultural Festival Eve”.
Some aspects at COVER are a work in progress, and there is an atmosphere of someone always chattering, but that is why I am excited and my expectations are growing. I think this is exactly the right way to describe the COVER of today.
