Glory Star Provides Authorization to E-Surfing Media to Launch CHEERS Video Series
08 9월 2020 - 8:00PM
Glory Star New Media Group Holdings Limited (NASDAQ:
GSMG) (“Glory Star” or the “Company”), a leading mobile and
online digital media and entertainment company in China, today
announced that the its CHEERS video series has officially launched
on platforms that are either owned or operated by E-Surfing Media
Co., Ltd. (“E-Surfing Media”). The first payment of RMB4.57
million in authorization fees for the use of the Company’s CHEERS
video series content was made on August 30, 2020, by E-Surfing
Media to the Company.
According to the cooperation agreement, Glory
Star will provide authorization of its high-quality video IP
content to E-Surfing through information network transmission.
Additionally, E-Surfing Media will obtain the right to play this
video content on its own platform and other third-party platforms
that it operates.
Mr. Bing Zhang, Founder and Chief Executive
Officer of Glory Star, commented, “We are pleased to announce our
cooperation with E-Surfing Media. Formerly known as the video
operation center of China Telecom (SEHK: 00728), E-Surfing Media is
currently the only online video operation platform owned and
operated by China Telecom. China Telecom is one of the three major
telecom operators in China and had more than 343 million mobile
subscribers in total in June 2020. We firmly believe that this will
be a win-win cooperation for both parties as we will be able to
reach China Telecom’s huge user base to achieve rapid promotion,
and E-Surfing Media will be able to further enrich its video
content and thus enhance the user stickiness of both its own
platform and the third-party platforms that it operates. We expect
that this kind of cooperation will continue to bring us stable
revenues and provide a strong impetus for our performance
growth.”
About Glory Star New Media Group Holdings
Limited Glory 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 Statement Certain 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.
Contacts Glory Star New Media Group Holdings Limited Yida
Ye Email: yeyida@yaoshixinghui.com
ICR Inc. Jack Wang Tel: +1 (646) 308-0546 Email:
gsnm@icrinc.com
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