Glory Star Provides Streaming Rights to Migu Video for CHEERS Video Series
19 11월 2020 - 10:00PM
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 owned by Migu Video Technology Co., Ltd (“Migu
Video”), a subsidiary of China Mobile (NYSE: CHL), a company
providing digital content in the forms of music, videos, books,
games, and animation.
According to the Framework Agreement between
Glory Star and Migu Video, Glory Star will provide Migu Video
access to its rich video series library that is available on the
Company’s CHEERS platform. Migu Video will be able to stream Glory
Star’s vast video contents on Migu Video’s video streaming
platforms. In addition, Glory Star will also receive fees from Migu
Video for the use and streaming of the Company’s CHEERS video
series content on Migu Video’s video streaming platforms.
Mr. Bing Zhang, Founder and Chief Executive
Officer of Glory Star, commented, “We are pleased to announce our
cooperation with Migu Video and look forward to working together
going forward. With a total of more than 947 million mobile
subscribers in June 2020, China Mobile is the largest telecom
operator in China. We are confident that this cooperation will be
mutually beneficial for both parties as we will be able to access
China Mobile’s massive user base to extend the reach of our CHEERS
video series and Migu Video will be able to bolster its video
content offerings to augment its platform’s user stickiness.
Looking ahead, we believe that these types of collaborations will
continue to enhance our monetization performance, generate
increasingly stable revenues, and fuel our growth over the long
term.”
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 LLC.Sharon ZhouTel: +1 (646)
308-0546Email: gsnm@icrinc.com
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