17LIVE Group Limited, a leading live-streaming platform listed on the Singapore Exchange (SGX), has announced its acquisition of mikai Inc., a prominent Japanese entertainment startup and owner of Re:AcT, a top VTuber production company. This move bolsters 17LIVE’s virtual IP portfolio and supports its long-term strategy of becoming a leading livestreaming entertainment platform powered by intellectual property (IP).
The acquisition will integrate mikai’s established virtual influencer assets into 17LIVE’s ecosystem, enabling the Group to expand its V-liver (VTuber) business. By leveraging mikai’s reputation and talent network, 17LIVE plans to cultivate stronger partnerships with its virtual influencers, equipping them with the resources to build unique identities essential for successful IP development. Meanwhile, mikai will remain focused on nurturing emerging VTuber talent, using 17LIVE’s platform to amplify their reach and visibility.
Accelerating growth under the 17LIVE Forward Strategy
This acquisition is part of the Group’s broader 17LIVE Forward Strategy, which prioritises platform enhancement, revenue diversification, and strategic partnerships. By acquiring mikai, 17LIVE aims to capitalise on the growing global demand for virtual influencers and the increasing popularity of Japanese anime.
Jiang Honghui, Executive Director and CEO of 17LIVE, highlighted the strategic importance of the acquisition, stating, “The acquisition of mikai is a key step in strengthening our Platform + IP model, which is a cornerstone of our 17LIVE Forward Strategy. By integrating mikai’s leading VTuber assets into our platform, we are well-positioned to drive future growth and elevate 17LIVE into an IP-powered livestreaming entertainment platform. This strategic move aligns with our vision of diversifying our offerings, expanding our virtual IP business, and unlocking new revenue streams for long-term success.”
Pioneering virtual entertainment
Founded in 2016 by Takahiro Uemura, mikai first gained attention for its Virtual Reality game and was later selected for the prestigious Tokyo XR Startups programme. In 2018, mikai expanded into VTuber content, establishing Re:AcT, a VTuber agency centred around music and idol themes. Today, Re:AcT features popular virtual artists like Leona Shishigami, with over 330,000 YouTube subscribers, and Kyo Hanabasami, who has over 320,000 subscribers. Re:AcT has built a reputation for delivering diverse content and events that appeal to anime enthusiasts worldwide.
Takahiro Uemura, CEO of mikai Inc., expressed enthusiasm for the partnership, saying, “It is an honour to join the 17LIVE Group. VTuber content is rapidly gaining traction alongside video games and anime films. With the growing global demand for anime and virtual content, joining 17LIVE is a pivotal step in unlocking further growth opportunities together. We look forward to realising our shared vision with the 17LIVE team and shaping the future of virtual entertainment.”
Looking ahead
The acquisition is not expected to materially affect 17LIVE’s consolidated net tangible assets per share or earnings per share for the year ending 31 December 2024. DBS Bank Ltd. acted as the sole issue manager for the transaction, facilitating 17LIVE’s ongoing transformation into an IP-driven entertainment platform.
With mikai’s inclusion, 17LIVE is well-positioned to expand its reach within the thriving global VTuber market and tap into the surging demand for virtual influencers, solidifying its place at the forefront of digital entertainment innovation.
