Glory Star Jointly Releases White Paper on China’s Video Content-Driven E-Commerce Industry Together With iResearch
September 29 2020 - 6:00AM
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 it has
released its White Paper on China’s Video Content-Driven E-Commerce
Industry (the “White Paper”) produced by iResearch Consulting Group
(“iResearch”) and commissioned by Glory Star. The White Paper
outlines the future trends of the video content-driven e-commerce
industry in China as well as the competitive edges of key players
in the market. The White Paper can be accessed on the Company’s
investor relations website at
http://ir.gsmg.co/content.html?id=715.
The following are some of key highlights from
the White Paper.
Emerging variation of e-commerce video
content Video content-driven e-commerce platforms use videos to
augment the consumption needs of consumers while bundling content
with products to achieve better sales conversion. At the industry’s
early stage of development, livestreaming channels were dominant in
terms of customer engagement. Now, as more innovative media content
has been created throughout the years, other types of content
outside of live streaming have become increasingly interactive,
thematic, scenario-driven, and entertaining.
Early-mover advantages have led to further
market consolidation In the context of rapid market
development, those industry players with an early-mover advantage
have been able to obtain large amounts of capital investments. As a
result, these industry players have been able to increase their
advantages relative to other organizations by leveraging these
resources and managing their supply chains in accordance with user
traffic levels.
Industry-level and local policies are guiding the industry
along a steady development path A growing number of policies at
the industrial and provincial levels have been implemented since
the start of 2020. These policies have helped to stimulate
investment within the video livestreaming e-commerce industry at a
rapid pace.
Focus on platforms that combine products and
sales to increase traffic and upgrade customer experiences It
is no longer enough for video content-driven e-commerce platforms
to only focus on growing platform traffic. Leading players are now
expected to increasingly redirect their attention towards the core
competitiveness of their product portfolios and the back-ends of
their supply chains to ensure the quality of both and therefore
better compete for online traffic.
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. Sharon Zhou Tel: +1 (646) 308-0546 Email:
gsnm@icrinc.com
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