Emerging Chinese Media Company Glory Star New Media (NASDAQ: GSMG) beats the Street Yet again. GSMG is partnered with Media Giants: ByteDance, E-Surfing Media, JD.com, China Mobile & China Teleco

Byphilip fleck

Partnered with JD.com as a Premium Entertainment Provider for China. 

Focus on eCommerce as a Leading Supply Chain Solution Provider. 

Program Content for Multiple International Luxury Brands. 

Agreement with E-Surfing Media for 5G and AR Technologies. 

Agreement with ByteDance to Develop Joint Programming Objectives.

In-Vehicle Interactive Content Application for New Energy Vehicles.

On to the Numbers and Earnout Targets:

Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) a leading mobile and online digital media and entertainment company in China, today announced its financial results for the full year ended December 31, 2020.

First Quarter 2021 Operating Metrics Highlights

Downloads of the Company’s CHEERS Video Application1 increased by 91.6% year over year to 192.6 million as of March 31, 2021.

Average daily active users (“DAUs”)2 of the Company’s CHEERS Video Application increased by 73.2% year over year to 7.1 million.

Stock Keeping Units (“SKUs”) carried on the Company’s CHEERS e-Mall platform increased by 284.2% year over year to 36,887.

Gross merchandise value (“GMV”)3 of the CHEERS e-Mall platform increased by 963.2% year over year to RMB432 million.

In addition, the Company announced that both of its earnout targets for fiscal year 2019 and 2020 for Glory Star New Media Group Limited (“GS Media”) under the Share Exchange Agreement, dated September 6, 2019 (the “Agreement”), and as amended by that certain Joinder to the Agreement, dated as of November 1, 2019 and the Amendment to the Agreement, dated December 29, 2020, by and among the Company, GS Media, and other parties to the Agreement, were fully achieved.

Income from operations for the full year of 2020 increased by 14.3% to US$30.7 million, from US$26.8 million for the full year of 2019.

Operating margin was 24.8% for the full year of 2020, compared to 40.8% for the full year of 2019.

Glory Star New Media Group Holdings Limited (GSMG) is a leading mobile entertainment operator in China. The GSMG 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 GSMG large and active user base creates valuable engagement opportunities with consumers and enhances platform stickiness with thousands of domestic and international brands.

GSMG partners with JD.com Inc. (“JD”) is one of China’s largest e-commerce platforms. As part of the partnership with GSMG, the company will develop solutions to help JD fulfill their customers’ needs for premium lifestyle-oriented online content, in the forms of text and short-form videos. The content production for JD.com is a great addition to Glory Star’s premium digital client lists which includes Tencent, Alibaba, Weibo, Iqiyi as well as traditional consumer brand clients such as Starbucks, Pantene, Louis Vuitton, Samsung and Sony etc.

JD.com is a leading technology driven e-commerce company transforming to become the leading supply chain-based technology and service provider. JD.com is the largest retailer in China, a member of the NASDAQ100 and a Fortune Global 500 company.

  • In-Vehicle Interactive Content Application for New Energy Vehicles

On March 2nd GSMG announced that its independently developed in-vehicle audio and video interactive content 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 GSMG 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 which utilizes the GSMG AI smart recommendation engine to integrate with the GSMG 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 GSMG 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 GSMG CHEERS platform. In addition, the development of in-vehicle interactive content will further expand the range of opportunities for mobile applications on the GSMG 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.

For more information on GSMG visit: http://www.topnasdaq.com/

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