BEIJING, March 2, 2021 — 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 its independently developed in-vehicle audio and video interactive content application (the "Application") for its CHEERS video platform has entered the internal testing stage of development. Once officially released, the Application will allow both drivers and passengers to access interactive audio and video content and services on the Company’s CHEERS video platform, to be made available through the global mainstream in-vehicle user interfaces of new energy vehicles.
The CHEERS video platform’s technical team developed the Application. The Application utilizes the Company’s AI smart recommendation engine to integrate with Glory Star’s content ecosystem and will be capable of providing users with an audio and video entertainment experience that is personalized, immersive, and diverse.
The development of in-vehicle interactive content is a very important part of the Company’s business strategy. Such development will provide both drivers and passengers with a more diverse set of in-vehicle internet services, create smarter driving experiences for users of the Application, and enhance users’ connections to the Company’s CHEERS platform. In addition, the development of in-vehicle interactive content will further expand the range of opportunities for mobile applications on the Company’s CHEERS video platform in the 5G era. With the iteration of new electronic equipment installed in new energy vehicles and the widespread adoption of the Internet of Vehicles, the market for in-vehicle interactive content has already displayed huge potential.
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: [email protected]
ICR LLC.
Sharon Zhou
Tel: +1 (646) 308-0546
Email: [email protected]
