BEIJING, Aug. 25, 2020 (GLOBE NEWSWIRE) -- 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 launched the third season of its flagship online variety show Hello! Rapper on August 22, 2020.
Hello! Rapper has become one of the most sought after online variety shows for millennials since its initial launch in 2020. The first episode of Hello! Rapper’s latest season reached the top of iQiyi’s lists for hot and trending videos, while its related short-form videos had recorded more than 100 million views on the first day of launching. Meanwhile, discussions surrounding events on the show have touched upon a societal nerve, spreading rapidly across domestic social media platforms and collecting approximately 50 million views.
In addition to captivating the attention of a younger audience, the Company has also prioritized the implementation of innovative marketing strategies to ensure the show’s commercial success. By integrating live streaming features within the show and utilizing these features to provide sponsors with customized ad placements, for example, the Company has been able to help a number of first-rate sponsors to augment their brand influence. As a result of these efforts, the third season of Hello! Rapper has already generated RMB40 million in revenues, representing an increase of 81.8% as compared to the second season of the show, which was launched in April, 2019.
Mr. Bing Zhang, Founder and Chief Executive Officer of Glory Star, commented, “We are pleased to announce the launch of the latest season of Hello! Rapper and report that it has delivered excellent social and commercial performances to date. Such successes continue to demonstrate our unique ability to integrate creative advertising campaigns into online variety shows and thus help our partner brands to connect with China’s younger generation, who are generally less receptive to and capable of being influenced by traditional brand advertising. The positive reception from all parties to Hello! Rapper further showcases both the effectiveness of our content production capabilities as well as our ability to boost exposures to and response rates for our sponsored advertisements. In light of these developments, we firmly believe in the potential of this content model to become a strong driver of financial growth over the long term. We plan to continue replicating this success formula in future seasons of the show and other related areas going forward.”
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.
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