This is the interesting chart. Livestreaming revenue is superchat and memberships (and ads, but those are marginal for streams). While you can see it's been in slow decline for two years, Q3 to Q4 is the biggest drop in a while. In fact merch also dropped, as did sponsorships.
edit: By far the biggest impact on the EN branch has been losing the Luxiem CN fans. Looking at FY2023 (mostly calendar 2022), both livestream and merch rev reached half of JP, which is actually kind of crazy. And then that drops into a pit in 2023. Compared to that Selen is... negligible. Or maybe more accurately the final nail in the coffin.