What Mirrativ does

Mirrativ, Inc. is a Tokyo-headquartered, publicly listed (TSE Growth Market, ticker 472A since December 2025) operator of Japan's largest smartphone game streaming platform, founded February 9, 2018 through an MBO of the Mirrativ business from DeNA. The company's flagship product is a mobile app that enables anyone to broadcast mobile gameplay via screen-mirroring with minimal setup, augmented by a built-in 3D avatar system (Emomo), a proprietary 'Live Gaming' genre that allows viewers to intervene in streamed games in real time, and the Mirrativ Stars cash-reward streamer monetization program. The platform reports over 5 million cumulative streamers and an unusual ~30% streamer-to-active-user ratio that sustains a network-effect-driven community flywheel.

Mirrativ serves three primary customer segments: (1) mobile gamers seeking low-friction streaming and social community around games, (2) game publishers and brands that license Mirrativ Ads, VTuber casting, and live gaming integration for community activation campaigns — with 78% of the top-50 Japanese mobile game publishers by revenue having implemented Mirrativ community initiatives, and (3) streamers, VTubers, and content creators who use CastCraft (a cross-platform streaming tool with 15,000+ monthly active YouTube/Twitch streamers, OBS/Streamlabs/XSplit compatible) and V-cas (a VTuber casting platform with 1,200+ VTubers and an 85%+ repeat campaign rate). Group structure includes two wholly-owned subsidiaries acquired in December 2024 — I-braid, Inc. (V-cas and Rock on V) and CastCode, Inc. (CastCraft).

Revenue is generated through multiple streams: in-app transactions for avatar items and gift items used in live streams and live games (Live Gaming segment alone exceeded JPY 100M/month in December 2021, with the top title Emomo Battle Drop reaching JPY 50M in 9-day sales), advertising and community-activation services sold directly to game publishers and brands via the Mirrativ Ads team, streamer payout processing fees under Mirrativ Stars, and professional services revenue from VTuber casting campaigns and CastCraft promotional tooling (e.g., Delivery & Viewing Quest). The company employs approximately 100 people (early 2022 figure, with subsequent expansion), generated its first publicly disclosed milestone in December 2018 (Series funding from Globis Capital), raised approximately $45M+ in private capital through 2022 including rounds led by Global Brain and a follow-on from BANDAI NAMCO's 021 Fund, and is led by founder-CEO Junichi Akagawa (formerly DeNA's youngest executive officer). Mirrativ positions itself as an 'All for Streamers' ecosystem spanning the proprietary Mirrativ app, YouTube/Twitch via CastCraft, VTuber entertainment via V-cas, and live music events via Rock on V.

Name

Mirrativ

Legal name

株式会社ミラティブ

Website

https://mirrativ.co.jp

Company type

Public

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Mirrativ operates Japan's largest smartphone game streaming platform, serving mobile gamers, VTubers, and game publishers with screen-mirroring live streaming, 3D avatars, live gaming, and VTuber casting services.

Ownership category

akta.pro rank

Product category

Mobile game live-streaming platform

NAICS

Media Streaming Distribution Services, Social Networks, and Other Media Networks and Content Providers (516210)

akta.pro primary industry

Gaming-Focused Live Streaming Platforms (MPACACAB)

akta.pro secondary industries

Offerwalls, Rewards & Performance Monetization (UA-linked payouts) (MPAFAJAI), Gaming Voice Chat & Party Voice Platforms (MPACAEAF), Interactive/Watch-Party & Social Video Streaming Platforms (MPACAAAM), Creator & Streamer Platforms (Live & VOD for Game Content) (MPAFAEAA)

Keywords

• Mobile game streaming
• Live streaming platform
• VTuber casting services
• Live gaming
• Streamer monetization

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Live Gaming — Viewer Gift Monetization: Viewers purchase and gift virtual items to streamers during live game sessions, generating revenue for the platform while providing direct income to streamers. The 'gifting' structure drives high average revenue per paying user comparable to social games, with individual live game titles reaching JPY 50 million in 9-day session sales (Emomo Battle Drop, Season 10). Platform revenue is shared with streamers, creating a PLAY TO EARN dynamic.
2. Avatar / Gift Item Sales (Emomo): Revenue from the sale of avatar customization items (Emomo skins, outfits, accessories) and virtual gift items used in streams and live games. Gacha-style events (GiftGacha) offer limited-time avatar items, with duplicate items granting 'coverage points' toward lottery entries for premium items.
3. Mirrativ Advertising (Community-Based Ads): Branded campaigns and community initiatives for game publishers and brands, leveraging Mirrativ's 570万+ cumulative streamer user base and unique female-skewing demographic (50% female, ~58% monthly spenders). Services include community campaigns, VTuber-driven promotions, and in-app advertising. 78% of top-50 mobile game publishers by revenue have implemented Mirrativ community initiatives.
4. Mirrativ Stars — Streamer Payment Processing: Streamers earn cash rewards based on streaming time and engagement metrics (Mirrativ Stars program). Mirrativ processes these payments and retains a platform fee, generating revenue from high-volume streamer payout processing.
5. ぶいきゃす (V-cas) — VTuber Casting Services: Revenue from VTuber casting services for enterprise promotional campaigns, music events (Rock on V), and cross-industry collaborations (e.g., food delivery with menu). Achieves 85%+ repeat campaign rate, with end-to-end services from campaign design to execution.
6. CastCraft — Streaming Tool Services: CastCraft provides a streaming assistance tool to YouTube/Twitch streamers (15,000+ monthly active users), supporting game publishers' promotional campaigns (e.g., Stream & Watch Quest) by facilitating viewer engagement and campaign tracking. Monetization through enterprise partnerships with game publishers seeking to activate streamer communities.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels9 records

Core offering

Mirrativ operates Japan's largest smartphone game live-streaming platform, allowing anyone to broadcast mobile gameplay via one-tap screen sharing, with built-in 3D avatars (Emomo) and Live Games that let viewers intervene in streamed games. The company monetizes via in-app purchases of avatar items and gifts, a streamer cash-reward program (Mirrativ Stars), and direct sales of advertising and VTuber casting campaigns to game publishers and brands.

Product overview

Mirrativ operates a portfolio of products centered on its flagship smartphone game streaming platform (Mirrativ app) alongside complementary services. The core Mirrativ app enables anyone to live-stream games from a smartphone with an anonymous avatar (Emomo), fostering a social community where 30% of active users are also streamers. Adjacent to the core app, Mirrativ offers Live Games—a proprietary genre of interactive games where viewers participate in streamed gameplay—and Mirrativ Ads, an advertising solution leveraging the platform's engaged gaming community. Under the 'All for Streamers' umbrella, the company also operates CastCraft (a cross-platform streaming support tool for YouTube/Twitch compatible with OBS/Streamlabs/XSplit), V-cas (a VTuber casting platform with 1,500+ VTuber networks for brand promotions), and Rock on V (VTuber music event brand). The Mirrativ Stars program provides streamer monetization. Group subsidiaries include I-BRAID (V-cas, Rock on V) and Cascord (CastCraft).

Differentiator

Problem solved

Functional benefit

Products and services

• Mirrativ (Main App) Japan's largest smartphone-based game streaming platform that allows anyone to live-stream mobile gameplay with one-tap screen sharing, for individual mobile gamers and streamers.
• Emomo Built-in 3D avatar system within the Mirrativ app that lets streamers create customizable, high-quality avatars for anonymous face-free streaming, with monetization via avatar and gift gacha items.
• Live Games (ライブゲーミング) Next-generation social games that merge gameplay with live streaming, allowing viewers to participate and intervene in real time in streamed games, with development costs of JPY 15–60 million per title.
• Mirrativ Ads (ミラティブ広告) Community-based advertising solution for game publishers and brands, leveraging Mirrativ's engaged gaming community to drive retention and in-app purchase uplift.
• CastCraft Streaming support tool compatible with OBS, Streamlabs Desktop, and XSplit for YouTube and Twitch streamers, offering comment text-to-speech, on-screen overlay, and interactive viewer-triggered effects.
• V-cas (ぶいきゃす) VTuber casting platform connecting 1,200+ VTubers with game publishers and brands for end-to-end promotional campaigns, achieving an 85%+ repeat campaign rate and 1,500+ content pieces per flagship campaign.
• Rock on V Live music event brand producing VTuber × real-band fusion concerts at physical venues with virtual streaming components, targeted at music and entertainment brand sponsorships.
• Delivery & Viewing Quest (CastCraft Promotion Service) Game publisher promotional service within CastCraft that incentivizes viewers to watch streams with in-game rewards and helps streamers grow their audience for new title launches.
• CastCraft Product Code Distribution for Boxed Games Promotional service for boxed game titles that distributes product codes en masse to streamers via CastCraft to drive simultaneous YouTube/Twitch streaming at launch.
• Mirrativ Stars (ミラティブスターズ) Streamer monetization program where streamers earn cash rewards based on streaming time and engagement metrics, supporting streamers pursuing streaming as a side job or full-time career.

Quantifiable outcome

• Streamers achieve monetization through Mirrativ Stars cash rewards based on streaming time and engagement
• +5 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability4 records

Feature7 records

Partnerships

Nine partnerships are on record, tiered flagship, core and minor.

• menu株式会社 (menu Co., Ltd.)flagshipGTM or Marketing Partner · 1 February 2026menu is a Japanese food delivery app (operated by a joint venture with KDDI and Rarezn Holdings) that partnered with Mirrativ for 'ぶいきゃす menuキャンペーン' — the first non-gaming use of Mirrativ's VTuber promotional model. 22 VTubers promoted menu to their communities, with coupon campaigns and ranking incentives. The partnership demonstrated Mirrativ's ability to expand its promotional platform beyond gaming into lifestyle and F&B categories.
• FunPlus International AGflagshipChannel Partner/ Reseller/ Distributor · 1 January 2026FunPlus is the developer/publisher of 'Foundation: Galactic Frontier' (ファウンデーション：銀河フロンティア), which ran a major ぶいきゃす campaign with 34 VTubers. FunPlus represents one of ぶいきゃす's flagship gaming clients, demonstrating Mirrativ's ability to serve international publishers.
• Amazing Seasun GamesflagshipChannel Partner/ Reseller/ Distributor · 1 January 2026Amazing Seasun Games published 'Snowbreak: Containment Breach' (スノウブレイク：禁域降臨), which ran the 'ぶいきゃす新年祭' campaign with 20 VTubers generating 200+ content pieces and 60,000+ views. Demonstrates successful international mobile game publisher adoption.
• X.D. Global / Bandai Namco EntertainmentflagshipChannel Partner/ Reseller/ Distributor · 1 January 2026X.D. Global and Bandai Namco published 'Blue Protocol: Star Resonance' (ブループロトコル：スターレゾナンス) on ぶいきゃす with 70+ VTuber participation for Season 2 launch — the largest single campaign on the V-cas platform. Demonstrates enterprise-level publisher engagement.
• SupercellflagshipChannel Partner/ Reseller/ Distributor · 1 January 2026Supercell's 'Brawl Stars' (ブロスタ) ran the '第2回 ブロスタぶいきゃすカップ' with 33 VTubers. This international publisher relationship demonstrates ぶいきゃす's appeal to global gaming brands targeting the Japanese market.
• TiMi Studio Group (Delta Force)flagshipChannel Partner/ Reseller/ Distributor · 1 January 2026TiMi Studio Group's 'Delta Force' was the first title to use CastCraft's 'Stream & Watch Quest' promotional campaign in Japan, resulting in a 30% increase in streaming channels and 56% increase in view counts for the title, validating the CastCraft promotional tool's effectiveness.
• 株式会社アイブレイド (I-Braid, Inc.)coreStrategic or Co-development Partner · 1 December 2025A 100% owned subsidiary of Mirrativ, I-Braid operates the VTuber casting platform ぶいきゃす and the live music event brand Rock on V. I-Braid brings expertise in VTuber entertainment, promotional campaign execution, and music event production, extending Mirrativ's 'All for Streamers' ecosystem into the VTuber domain. I-Braid has built a network of 1,200+ VTubers and achieved an 85%+ campaign repeat rate.
• 株式会社キャスコード (Cascord, Inc.)coreStrategic or Co-development Partner · 1 December 2025A subsidiary of Mirrativ providing the CastCraft streaming assistance tool (castcraft.live) used by 15,000+ YouTube/Twitch streamers monthly. Cascord develops and operates the CastCraft tool and its promotional campaign features (e.g., Stream & Watch Quest), enabling game publishers to activate streamer communities.
• 株式会社丸井グループminorGTM or Marketing Partner · 1 January 2024丸井グループ partnered with Mirrativ for co-branded credit card (推し活カード) featuring Mirrativ Stars streamers, and pop-up store initiatives at Marui shopping centers. This partnership extends Mirrativ's promotional ecosystem into consumer financial products and retail environments.

Scale indicators15 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Mildom: Japanese mobile-first game streaming platform owned by DeNA, directly competing with Mirrativ for smartphone game streamers and viewer share in Japan. Same vertical, same core demographic, and uses a comparable creator-economy model.
• OPENREC.tv: Japanese live streaming platform with strong game streaming focus and e-sports integration. Directly comparable in serving Japanese game publishers and creator communities, with overlapping enterprise sales motion.
• Pococha: DeNA-operated Japanese live streaming app with avatar and gifting mechanics, similar to Mirrativ's Emomo + Live Gaming stack. Notably operated by DeNA, Mirrativ's predecessor owner, making the competitive dynamic especially pointed.
• SHOWROOM: DeNA-operated Japanese live streaming platform with strong VTuber and idol-vertical presence. Direct competitor for VTuber casting budgets and brand sponsorship spend, and a fellow Japanese live streaming app with gifting monetization.

Broad incumbents

• Twitch: Amazon-owned global live streaming leader for gaming content. While not mobile-first, Twitch competes for creator attention, sponsorship budgets, and viewer mindshare, and serves as the primary global benchmark for streamer monetization infrastructure.
• YouTube Gaming: Google-operated video and live streaming platform with dedicated gaming surface. Competes with Mirrativ for streamer hours (CastCraft explicitly supports YouTube streamers), ad spend, and creator monetization via Super Chat and ad revenue sharing.
• BiliBili: Chinese video and live streaming platform with substantial Japanese operations and gaming-vertical focus. Comparable in combining UGC video, live streaming, VTuber content, and gifting monetization; represents a potential international expansion benchmark for Mirrativ.
• ANYCOLOR (niijisanji): Publicly listed Japanese VTuber agency (niijisanji) and live streaming platform. Directly competes for VTuber casting spend and brand campaign budgets, and increasingly develops in-house publisher relationships that compete with Mirrativ's V-cas.

Regional players

• 17LIVE: Taiwan-headquartered live streaming platform with significant Japan presence (acquired by Kumo no Machi). Comparable in mobile-first avatar-based streaming and gifting monetization, primarily serves Asian markets outside Mirrativ's home turf.

Emerging players

• IRIAM: Japanese VTuber-specialized live streaming app operated by DeNA. Direct overlap with Mirrativ's Emomo avatar streaming positioning, particularly among indie VTubers; meaningful but narrower competitive surface.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/mirrativ
• Facebookfacebook.com/mirrativ

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries2 records

Funding overview

Funding rounds3 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mirrativ