What Openrec does

Openrec (株式会社OPENREC) is a Tokyo-based live streaming and creator economy company that operates OPENREC.tv, a Japanese-language platform dedicated to game commentary, live streaming, and fan community experiences. The platform supports a roster of Japanese gaming streamers, VTubers, idols, and entertainment talents by providing live broadcasting infrastructure, fan community management tools, pay-per-view ticketing, and offline event production. As of July 1, 2026, the flagship service is being rebranded from OPENREC.tv to mellow-fan (メ ローファン), repositioning the offering from a streaming utility into an integrated fan community service. The company is privately held, was established on December 28, 2022, and is led by CEO Hyodo Akira (兵頭陽) and CFO Matsumoto Yuichiro (松本雄一郎), with a headcount of 51-100 employees.

The business operates a multi-stream monetization model: PPV event tickets (¥1,500 to ¥10,000), recurring subscription plans (Paradise Plan and Bonjour Plan) that offer ticket discounts and exclusive benefits, creator merchandise sales through the with mellow brand and its online storefront (with-mellow.store), sponsor tie-ups, and end-to-end online event production. Distribution spans the self-serve OPENREC.tv/mellow-fan platform, the third-party eplus (イープラス) ticketing system, with mellow e-commerce, and physical pop-up retail locations, with a channel partnership with Karaoke BanBan (384 locations) for offline content distribution. Marquee events include OVERWATCH PARK REBORN, RIDDLE fan meetings (now extending from Tokyo to Osaka), and Fulltowa offline fan meetings, all leveraging named Japanese streamers such as 加藤純一, 渋谷ハル, SPYGEA, ta1yo, めーや, and なな湖.

Underlying technology is described as a proprietary live streaming infrastructure for real-time game and entertainment content delivery, with no public API, SDK, or AI/ML capabilities disclosed. The company raised approximately $15.4M in a Series 1 round on May 8, 2024, from investors including Accord Ventures, GENDA Capital, Nomura SPARX, Pegasus Tech Ventures, Sega Sammy Holdings, and Vector, alongside a credit arrangement with Mitsubishi UFJ, Resona Bank, and Shoko Chukin Bank. Registered capital stands at ¥100,000,000, and operations are currently domestic to Japan with a clear strategic focus on building an integrated creator economy ecosystem around the rebranded mellow-fan platform.

Name

Openrec

Legal name

株式会社OPENREC

Website

https://openrec.co.jp

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

51–100 employees

Short description

Openrec (株式会社OPENREC) operates mellow-fan (formerly OPENREC.tv), a Japan-focused live streaming, fan community, and event platform serving gaming streamers, VTubers, idols, and creators through PPV ticketing, subscriptions, merchandise, and offline events.

Ownership category

akta.pro rank

Product category

Live Streaming and Creator Economy Platform

NAICS

Media Streaming Distribution Services, Social Networks, and Other Media Networks and Content Providers (516210), Agents and Managers for Artists, Athletes, Entertainers, and Other Public Figures (7114), Promoters of Performing Arts, Sports, and Similar Events with Facilities (71131)

SIC

Services-Amusement & Recreation Services (7900)

akta.pro primary industry

Paid Live Events & Virtual Tickets (Webinars/Streams) (MPACAFAC)

akta.pro secondary industries

Creator Merchandise & Print-on-Demand Platforms (MPACAFAE), Consumer & Public Shows (B2C) Organizers (THAHABAC)

Keywords

• Live streaming platform
• Game streaming service
• Creator fan community
• Online event ticketing
• Creator merchandise brand

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Digital Commerce or Content

Cost components

Technology or R&D, Personnel, Marketing or Sales

Revenue model

1. PPV/Event Tickets: Pay-per-view model for events and live streams. Ticket sales for fan meetings, concerts, and gaming events. Prices range from ¥1,500 to ¥10,000 per event with PPV add-ons available.
2. Subscription (パラダイスプラン/ボンジュールプラン): Subscription services offering discounted event tickets and exclusive benefits for members. Examples include パラダイスプラン (Paradise Plan) and ボンジュールプラン (Bonjour Plan) for fan communities.
3. MD事業 (Merchandising): MD (Merchandise) business selling creator lifestyle brand products including apparel, accessories, and collectibles through the with mellow brand.
4. Sponsor Tie-ups: Sponsorship deals and branded content integrations within the streaming platform and at events.
5. Online Event Business: Organizing and monetizing online events, fan meetings, and virtual experiences for content creators.

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Marketing channels6 records

Core offering

Openrec operates OPENREC.tv, a Japanese live-streaming platform centered on game commentary, real-time broadcasting, and online event production. The company monetizes via pay-per-view event tickets, creator subscription plans (Paradise Plan, Bonjour Plan), the 'with mellow' creator lifestyle merchandise brand, and sponsor tie-ups, while operating as a fan community platform for game streamers, VTubers, idols, talents, and actors.

Product overview

OPENREC operates a multi-platform entertainment ecosystem centered around OPENREC.tv/mellow-fan for live streaming and fan communities, with supporting services including merchandise (MD事業), online event production (オンラインイベント事業), and sponsor partnerships (赞助商タイアップ). The subsidiary brand 'with mellow' extends into creator lifestyle merchandise and collaborations. The company also manages talent/creator IPs like なな湖 and event properties like OVERWATCH PARK REBORN. The 2026 rebranding to mellow-fan represents a strategic shift from a streaming tool to a comprehensive fan community platform supporting creators across idol, talent, and actor categories beyond just game streamers.

Differentiator

Problem solved

Functional benefit

Brands

• mellow-fan（メローファン）: Fan community service launching July 1, 2026, rebranded from OPENREC.tv. Focuses on creator-fan community building, events, and merchandise support.
• with mellow

Products and services

• OPENREC.tv

Named customers15 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Karaoke BanBan (カラオケBanBan)minorChannel Partner/ Reseller/ Distributor · 30 April 2026Campaign partnership for distributing digital content through karaoke locations. Karaoke BanBan's 384 stores in Japan serve as distribution points for exclusive video content and smartphone wallpapers tied to OPENREC events and creators.

Scale indicators1 record

Recent moves7 records

Expansion highlights5 records

Direct peers

• Twitch: Amazon-owned live streaming platform dominant in gaming commentary, esports, and creator communities. Most direct competitor to OPENREC.tv on streaming infrastructure, creator monetization (subs, bits), and community chat — and the benchmark for audience scale and creator earnings.
• Mirrativ: DeNA-operated mobile-first live streaming app in Japan popular with game streamers and casual creators. Closest Japanese direct peer to OPENREC.tv on mobile streaming UX, gaming audience, and creator monetization mechanics.
• 17LIVE: Pan-Asian live streaming platform with significant Japan operations (17Live.jp). Competes for Japanese creators and viewers with live-streaming monetization, virtual gifting, and event-style programming analogous to OPENREC's PPV tier.
• SHOWROOM: DeNA-run live streaming platform with strong adoption among Japanese idols, talents, and actors — the same creator segment mellow-fan is targeting. Direct competitor for idol-tier fan communities, virtual gifting, and sponsorship integration.
• Pococha: DeNA-operated casual live-streaming app in Japan with creator monetization via virtual items. Overlaps with OPENREC.tv on individual streamer monetization and community engagement, with a stronger footprint in everyday creators.
• TwitCasting: Japan-based live streaming service tightly integrated with X (Twitter) for distribution. Comparable to OPENREC on real-time streaming for Japanese creators and PPV-style ticketed events.

Broad incumbents

• YouTube Live: Google's live streaming product integrated into YouTube. Competes with OPENREC across gaming streamers, PPV-style Super Chat, and fan community building, but operates as a broader video incumbents rather than a focused fan-community service.
• Niconico (Dwango/Kadokawa): Japan's pioneering video and live-streaming platform (Niconico Live) with strong ties to game, vocaloid, and creator communities. Operates as a broader video incumbent that overlaps with OPENREC's livestream + event hybrid model.
• bilibili: Chinese video and live-streaming platform with growing Japan presence focused on anime, gaming, and creator monetization. Comparable to OPENREC for its emphasis on creator-fan community and live events tied to anime/gaming IP.
• TikTok Live: ByteDance's live-streaming layer inside TikTok with strong adoption by Japanese creators. Competes with OPENREC for creator attention, gifting-style monetization, and short-form-to-live conversion — but as a much broader social incumbent.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/OPENREC
• Instagraminstagram.com/with_mellow
• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/openrectv

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds2 records

Investors10 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 Openrec