Glory Star New Media Group Holdings Limited Announces Partnership with CNLive.com a Leading Content Distributor in China Serv...
23 7월 2020 - 8:00PM
Glory Star New Media Group Holdings Limited (NASDAQ: GSMG, GSMGW)
(“Glory Star” or the “Company”), a leading mobile and online
digital media and entertainment company in China, today announced
that it has established a strategic cooperation agreement with
CNLive.com.
The strategic cooperation creates a new and vast
opportunity for Glory Star to leverage, accelerate, monetize, and
grow its subscriber base with the technology provided by
CNLive.com. More specifically, the Company is able to utilize the
augmented reality marker technology and gain access to the
expansive multichannel networks of CNLive.com by distributing its
content and proprietary inventory of its CHEERS Video library, and
its CHEERS e-Mall platform to China’s major media outlets.
This includes the three largest mobile telecommunication operators
in China, China Mobile Limited, covering more than 946 million
users, China Telecom Corporation Ltd., covering more than 343
million users, and China Unicom Limited, covering more than 309
million users.
Mr. Bing Zhang, Chairman and Chief Executive
Officer of Glory Star, commented, “We are pleased to announce our
strategic relationship with CNLive.com, who provides services for
content output and operations of China Mobile, China Unicom and
China Telecom. Users can scan their favorite content and products
through the embedded AR marker technology and directly complete
their purchases through their mobile devices, which greatly
enhances the next stage of growth and traffic conversion of CHEERS
Video and CHEERS e-Mall platform. Our Company already provides
content production services for some of the largest E-commerce
companies in China such as JD.com, Inc., one of the leading
technology driven e-commerce companies and the largest retailer in
China, a member of the NASDAQ-100. We also provide premium digital
content to our all-star clients, including Tencent, Alibaba, Weibo,
Iqiyi as well as our traditional consumer brand clients such as
Starbucks, Pantene, Louis Vuitton, Samsung, Sony and many
more.”
About Glory Star New Media Group Holdings
LimitedGlory Star New Media Group Holdings Limited is a
leading mobile entertainment operator in China. Glory Star’s
ability to integrate premium lifestyle content, including short
videos, online variety shows, online dramas, live streaming, its
Cheers lifestyle video series, e-Mall, and mobile app, along with
innovative e-commerce offerings on its platform enables it to
pursue its mission of enriching people’s lives. The Company’s large
and active user base creates valuable engagement opportunities with
consumers and enhances platform stickiness with thousands of
domestic and international brands.
Safe Harbor StatementCertain statements made in
this release are “forward looking statements” within the meaning of
the “safe harbor” provisions of the United States Private
Securities Litigation Reform Act of 1995. When used in this press
release, the words “estimates,” “projected,” “expects,”
“anticipates,” “forecasts,” “plans,” “intends,” “believes,”
“seeks,” “may,” “will,” “should,” “future,” “propose” and
variations of these words or similar expressions (or the negative
versions of such words or expressions) are intended to identify
forward-looking statements. These forward-looking statements are
not guarantees of future performance, conditions or results, and
involve a number of known and unknown risks, uncertainties,
assumptions and other important factors, many of which are outside
the Company’s control, that could cause actual results or outcomes
to differ materially from those discussed in the forward-looking
statements. Important factors, among others, are: the ability to
manage growth; ability to identify and integrate other future
acquisitions; ability to obtain additional financing in the future
to fund capital expenditures; fluctuations in general economic and
business conditions; costs or other factors adversely affecting our
profitability; litigation involving patents, intellectual property,
and other matters; potential changes in the legislative and
regulatory environment; a pandemic or epidemic; and other factors
listed in the Company’s Annual Report on Form 10-K for the year
ending December 31, 2019 and in other filings made by the Company
with the Securities and Exchange Commission from time to time. The
Company undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by applicable law.
Such information speaks only as of the date of this release.
ContactsGlory Star New Media Group Holdings
LimitedYida YeEmail: yeyida@yaoshixinghui.com
ICR Inc.Jack WangTel: +1 (646) 308-0546Email:
gsnm@icrinc.com
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