International brands like Google, ByteDance and Amazon are also capitalising on the live streaming trend by hosting streamers on platforms like YouTube, TikTok and Twitch. These platforms typically follow a similar revenue model: they either take a commission on direct donations from fans or enable fans to purchase in-app “gifts” to send to the streamers they wish to support.
Fans around the world show their devotion in unique ways, but few cultures rival the intensity of Japan’s fan base, who are known for their unwavering loyalty to their oshi — whether an idol, entertainer or character. Derived from the verb osu, meaning “to support” or “to push forward”, the term reflects fans’ role as key backers of their oshi. They spend a lot on merchandise, from limited-edition CDs to exclusive goods, viewing them as symbols of support and connection.
This oshikatsu culture has contributed to the success of live-streaming platforms like 17Live, Line Live (owned by SoftBank and Naver), Pococha and Showroom (both owned by Tokyo-listed DeNA), and Bigo Live (owned by Nasdaq-listed Joyy), along with smaller platforms like MixChannel and Spoon, enabling them to generate steady revenue.
