1. In light of Murasaki Shion’s graduation
2. What is Graduation?
3. Affiliation
4. Hololive’s recent wave of graduations
5. Indie Vtubers
6. A new direction for Hololive
7. Appendix

In light of Murasaki Shion’s graduation

On March 6, 2025, Hololive VTuber Murasaki Shion posted an update on her YouTube channel—a short livestream with a melancholic thumbnail. For fans of Hololive and VTubers, we’ve seen this before. That ominous “G” word we’re always afraid to say… Graduation.

Shion’s departure will mark Hololive’s fifth graduation since August 2024, a statistic that may seem concerning at first glance. Before this recent wave, the last Hololive graduation was Tsukumo Sana from Hololive English in July 2022—over two years before Minato Aqua’s graduation in August 2024.

It’s also important to distinguish graduations from terminations—while graduations are often framed as amicable departures, terminations are much rarer and far less pleasant. The most recent example was Yozora Mel, who was terminated from Hololive in January 2024. Although Cover Corp rarely takes such drastic action, it remains an unavoidable part of the industry.

What is Graduation?

The term “graduation” originates from Japanese idol groups, where it reflects the nostalgic connection to school life and softens the emotional impact of a departure. Unlike words like resignation or quitting, “graduation” carries a more positive tone, emphasizing growth and moving forward rather than simply leaving.

This approach allows for graduation concerts, special merchandise releases, and a chance for fans to celebrate the talent’s journey while giving them a heartfelt send-off. Much like graduating from school, it’s a mix of emotions—the excitement of moving on to something new, but also the sadness of leaving behind a familiar chapter.

Naturally, the VTuber industry adopted this terminology, as early VTuber groups closely resembled idol units. In the early days of VTubing, there was no established model for VTuber agencies, so companies like Hololive took inspiration from traditional idol groups like AKB48, using them as a blueprint for group structure and fan interactions. Today, when a VTuber announces their departure from an agency, it’s framed as a graduation. This is typically followed by a graduation stream about a month after the initial announcement, giving fans one last chance to say goodbye

Affiliation

However, a new departure status emerged in 2024, breaking from the traditional alumni system. On 30th September, 2024, Amelia Watson became the first-ever “Affiliate” member of Hololive. Unlike traditional graduates, Amelia ceased streaming activities but remained loosely connected to the company, with the possibility of making official appearances in the future.

This new affiliation status was later followed by Chloe Sakamata, who stopped streaming in January 2025 while also becoming an Affiliate instead of a full graduate.

With only two affiliated members so far, it’s still unclear how this status will develop or how future appearances will be handled. However, it marks a potential shift in how VTuber agencies manage departing talents, allowing for greater flexibility beyond the traditional alumni system.

Hololive’s recent wave of graduations

As mentioned earlier, with Murasaki Shion’s departure, Hololive has seen five graduations or affiliate departures since August 2024. This is a notable increase compared to the period between July 2022 and July 2024, which saw only two departures (one graduation and one termination).

So, what’s behind this rise in departures?
Several recent graduates have provided personal reasons for their exits:

• Chloe Sakamata cited multiple factors, including:
  • Wanting to explore opportunities outside of Hololive
  • Feeling she no longer aligned with Cover Corp’s direction
  • Health issues making it difficult to handle the company’s workload
• Minato Aqua & Murasaki Shion also referenced company direction and in Shion’s case health concerns as reasons for leaving.
• Ceres Fauna (January 2025) was more direct, stating that her departure was due to “disagreements with management.”

It’s hard to ignore that Hololive has evolved significantly as a company in recent years. A look at Cover Corp’s internal reports reveals their ambitious vision for expansion, and this shift in corporate direction—combined with the increasing viability of indie VTubing—may be key factors in why more talents are choosing to leave.

However, Hololive isn’t the only agency experiencing this trend. Nijisanji has seen an identical number of departures in the same timeframe—five graduations between August 2024 and March 2025—but historically, their turnover rate has always been much higher.

Year	Hololive	Nijisanji
2025*	3	1
2024	3	8
2023	0	10
2022	2	1

Currently, Nijisanji has 186 active talents, compared to Hololive’s 67 (which will drop to 66 once Shion graduates). Due to Nijisanji’s larger roster, it’s inherently more difficult to manage and support talents, which contributes to their higher departure rate.

While 2024 was a controversial year for Nijisanji, particularly due to the termination of Selen Tatsuki, Hololive also faced mild criticism toward the end of the year. Many fans demanded greater transparency from Cover Corp’s management, though the backlash wasn’t as severe as Nijisanji’s PR struggles.

Indie Vtubers

In recent years, becoming an independent VTuber has become significantly easier. Advancements in modelling and rigging technology have made high-quality avatars more accessible and affordable, and as VTubing has become more mainstream, its appeal has expanded to a much larger audience. The surge in indie VTubers has also fostered a stronger community, where independent talents can thrive without the backing of an agency.

Several indie VTubers have seen explosive growth in the past year. Mint Fantôme and Dokibird are recent examples of rising stars, while Filian and Shylilly have established themselves as some of the biggest names in indie VTubing. Filian, in particular, has taken on a leadership role within the community, serving as the annual host of the VTuber Awards.

This shift is also reflected in Hololive’s recruitment strategy. In 2024, Hololive launched two new generations, Justice and Flowglow, each with a distinct identity:
• Flowglow has a heavy focus on music, particularly hip-hop.
• Justice is a well-balanced generation, featuring:
-Raora, a talented artist
-Elizabeth, an amazing singer & voice actress
-Cecilia, an experienced musician
-Gigi, who brings a chaotic, meme-driven gaming personality
As the VTubing landscape continues to evolve, it’s clear that agencies must differentiate themselves through large-scale projects and unique talent lineups to remain competitive against the growing indie scene.

A new direction for Hololive

This September will mark eight years since the debut of Tokino Sora, the founding member of Hololive. Eight years is a long time in such a fast-moving industry, and in that time, Hololive has grown exponentially. When Sora debuted in September 2017, Cover Corp had just two employees—now, as of December 2024, the company has 652 employees.

Change is an inevitable part of this business. As Hololive evolves, there will always be talents who decide to move on, whether to pursue new opportunities, explore different paths, or simply seek a change of pace.

But rather than focusing on recent departures, perhaps the real story should be Hololive’s golden era of 2023—a year in which they saw zero graduations. It’s easy to overlook the good times while they’re happening, but hindsight always reminds us of how special they were. And sometimes, when things are going well, even the smallest setback can feel like the sky is falling.

For Hololive fans, it’s important not to get lost in the sadness of graduations. Change is part of this industry, and while departures are always emotional, they are also natural. Shion, for example, is leaving after seven years—a remarkable run in what is an incredibly high-pressure role. Seven years of dedication is something to celebrate, not mourn, and the best thing fans can do is wish her well as she takes the next step in her journey.

The graduation system itself is a positive thing. It allows talents to depart on their own terms, ensuring that no one is forced to stay in a role they no longer enjoy. There is always a right time to end a story, to close a book, and move forward with love. For Shion and the others, that time is now.

Of course, Hololive will continue to grow. A new generation in 2025 will likely bring fresh talent, new personalities, and new reasons for fans to fall in love with Hololive all over again.

“Everything ends and it’s always sad. But everything begins again, and that’s always happy. Be happy”.

Appendix