{"id":496981,"date":"2020-07-20T03:12:01","date_gmt":"2020-07-20T03:12:01","guid":{"rendered":"https:\/\/www.abnewswire.com\/pressreleases\/?p=496981"},"modified":"2020-07-20T03:12:01","modified_gmt":"2020-07-20T03:12:01","slug":"glory-star-new-media-group-holdings-limited-partners-with-industry-leader-jdcom-for-premium-entertainment-services-in-china","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/glory-star-new-media-group-holdings-limited-partners-with-industry-leader-jdcom-for-premium-entertainment-services-in-china_496981.html","title":{"rendered":"Glory Star New Media Group Holdings Limited Partners with Industry Leader JD.com for Premium Entertainment Services in China"},"content":{"rendered":"<div style=\"font-style:italic; padding:8px 0px;\">Programs for Luxury Brands Including Fendi, Prada, Gucci, and Burberry<\/div>\n<ul>\n<li dir=\"ltr\">\n<p style=\"text-align: justify;\" dir=\"ltr\"><span>Partnered with JD.com as a Premium Entertainment Provider for China.&nbsp;<\/span><\/p>\n<\/li>\n<li style=\"text-align: justify;\" dir=\"ltr\">\n<p dir=\"ltr\"><span>Variety of Premium Content Including Popular Cheers Lifestyle Series.<\/span><\/p>\n<\/li>\n<li style=\"text-align: justify;\" dir=\"ltr\">\n<p dir=\"ltr\"><span>e-Mall GMV Growth Exceeds 4,000% YoY for E-Commerce Shopping Festival in China.&nbsp;<\/span><\/p>\n<\/li>\n<li style=\"text-align: justify;\" dir=\"ltr\">\n<p dir=\"ltr\"><span>Content Programs Completed for Multiple International Luxury Brands.&nbsp;<\/span><\/p>\n<\/li>\n<li style=\"text-align: justify;\" dir=\"ltr\">\n<p dir=\"ltr\"><span>Strong Financial Results Being Reported in 2020 to Date.&nbsp;<\/span><\/p>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\" dir=\"ltr\"><span>Glory Star New Media Group Holdings Limited (NASDAQ: <\/span><span>GSMG<\/span><span>) is a leading mobile entertainment operator in China. Glory Star&rsquo;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 peoples&rsquo; lives. The company&rsquo;s large and active user base creates valuable engagement opportunities with consumers and enhances platform stickiness with thousands of domestic and international brands.<\/span><\/p>\n<p style=\"text-align: justify;\" dir=\"ltr\"><span>GSMG<\/span><span> partners with&nbsp;<\/span><a rel=\"nofollow\" href=\"http:\/\/jd.com\/\"><span>JD.com<\/span><\/a><span>&nbsp;Inc. (&ldquo;JD&rdquo;) is one of China&rsquo;s largest e-commerce platforms. As part of the partnership with <\/span><span>GSMG<\/span><span>, the company will develop solutions to help JD fulfill their customers&rsquo; needs for premium lifestyle-oriented online content, in the forms of text and short-form videos. The content production for&nbsp;<\/span><a rel=\"nofollow\" href=\"http:\/\/jd.com\/\"><span>JD.com<\/span><\/a><span>&nbsp;is a great addition to Glory Star&rsquo;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.<\/span><\/p>\n<p style=\"text-align: justify;\" dir=\"ltr\"><span>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.<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span>CHEERS e-Mall GMV Growth Exceeds 4,000% YoY during the 6.18 E-Commerce Shopping Festival in China<\/span><\/p>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\" dir=\"ltr\"><span>On June 23<\/span><span><span>rd<\/span><\/span><span>GSMG<\/span><span> announced that the Gross Merchandise Value (GMV) for its CHEERS e-Mall online e-commerce platform grew by 4,009% year over year to RMB50.6 million and order volume increased by more than 780% year over year in 2020 during the 6.18 e-commerce shopping festival, a highly popular mid-year e-commerce shopping bonanza occurring annually in China. A focus on the young Chinese consumer segment has become a cornerstone of the <\/span><span>GSMG<\/span><span> CHEERS e-Mall development strategy and contributes to much of its success.&nbsp;<\/span><\/p>\n<p style=\"text-align: justify;\" dir=\"ltr\"><span>GSMG <\/span><span>has witnessed an acceleration in consumption growth in third-tier cities and below. In order to capitalize on this emerging opportunity,<\/span><span> GSMG<\/span><span> utilized a number of creative promotion methods, such as flash buy, friend referral discount programs, and many more.&nbsp;<\/span><\/p>\n<p style=\"text-align: justify;\" dir=\"ltr\"><span>Meanwhile, <\/span><span>GSMG<\/span><span> still maintains its strong presence in first- and second-tier cities, such as Beijing, Shanghai, Guangzhou, Changsha, and Zhengzhou, etc., from which it attracted 50% of its paying users during the shopping festival.&nbsp;<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span>Completion of Content Production Programs for Multiple Luxury Brands<\/span><\/p>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\" dir=\"ltr\"><span>On June 09th, 2020 <\/span><span>GSMG<\/span><span> announced it has successfully completed content production programs for multiple international luxury brands, including Fendi, Prada, Gucci, and Burberry.<\/span><\/p>\n<p style=\"text-align: justify;\" dir=\"ltr\"><span>Currently, China has begun to lead the way toward recovery from the COVID-19 pandemic, and Chinese consumers are set to cement their status as crucial growth drivers for the industry going forward. According to Bain &amp; Company&rsquo;s Luxury Study 2020 Spring Update released in May 2020, Chinese consumers are expected to account for approximately 50% of the total global market for luxury goods in 2025 compared to 35% in 2019. The total number of China&rsquo;s upper-middle-class households is expected to reach 350 million by 2025 with a compound annual growth rate of 28% from 2018 to 2025.<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span>Production for 3rd Season of Flagship Online Variety Show Hello! Rapper<\/span><\/p>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\" dir=\"ltr\"><span>On May 27<\/span><span><span>th<\/span><\/span><span>GSMG<\/span><span> announced plans to begin production of the third season of its flagship online variety show&nbsp;Hello! Rapper&nbsp;in June 2020. As one of the first music-centric variety shows in China, the inaugural season of&nbsp;Hello! Rapper&nbsp;was produced by <\/span><span>GSMG<\/span><span> in 2017. The show was an instant online success, collecting over 100 million views.&nbsp;<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li dir=\"ltr\">\n<p dir=\"ltr\"><span>Success Shown in First Quarter 2020 Financial Results<\/span><\/p>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\" dir=\"ltr\"><span>On May 11th <\/span><span>GSMG <\/span><span>announced its financial results for the first quarter ended March 31, 2020.<\/span><span><br \/><\/span><span>Highlights included: <\/span><span><br \/><\/span><span><br \/><\/span><span>Downloads of the CHEERS App1 exceeded 100.5 million as of March 31, 2020, compared to 17.2 million as of March 31, 2019.<\/span><span><br \/><\/span><span>Average daily active users (&ldquo;DAUs&rdquo;)2 of the CHEERS App increased to 4.1 million from 0.5 million in the same period of 2019.<\/span><span><br \/><\/span><span>The Company&rsquo;s e-Mall carried over 9,602 Stock Keeping Units (&ldquo;SKUs&rdquo;) as of March 31, 2020, and recorded over RMB40.6 million (US$5.8 million) in gross merchandise value (&ldquo;GMV&rdquo;)3 through its CHEERS App in Q1. <\/span><span><br \/><\/span><span><br \/><\/span><span>Revenues were US$9.8 million as compared to US$13.8 million in the same period of 2019.<\/span><span><br \/><\/span><span>Income from operations was US$2.9 million as compared to US$4.4 million in the same period of 2019.<\/span><span><br \/><\/span><span><br \/><\/span><span>For more information on <\/span><span>GSMG<\/span><span> visit: <\/span><span><a rel=\"nofollow\" href=\"http:\/\/www.yaoshixinghui.com\/\">http:\/\/www.yaoshixinghui.com\/<\/a><\/span><\/p>\n<p><span style='font-size:18px !important;'>Media Contact<\/span><br \/><strong>Company Name:<\/strong> <a href=\"https:\/\/www.abnewswire.com\/companyname\/yaoshixinghui.com_60134.html\" rel=\"nofollow\">GLORY STAR NEW MEDIA GROUP HOLDINGS LIMITED<\/a><br \/><strong>Contact Person:<\/strong> Media Relations<br \/><strong>Email:<\/strong> <a href=\"https:\/\/www.abnewswire.com\/email_contact_us.php?pr=glory-star-new-media-group-holdings-limited-partners-with-industry-leader-jdcom-for-premium-entertainment-services-in-china\" rel=\"nofollow\">Send Email<\/a><br \/><strong>Phone:<\/strong> 852-6212-8493<br \/><strong>Address:<\/strong>2039 2F United Center 95 Queensway Admiralty Admiralty Hong Kong (SAR)  <br \/><strong>Country:<\/strong> China<br \/><strong>Website:<\/strong> <a href=\"http:\/\/www.yaoshixinghui.com\/\" target=\"_blank\" rel=\"nofollow\">http:\/\/www.yaoshixinghui.com\/<\/a><\/p>\n<p><object type=\"text\/html\" data=\"http:\/\/www.yaoshixinghui.com\/\" style=\"width:900px; height:400px;\"><\/object><img decoding=\"async\" src=\"https:\/\/www.abnewswire.com\/press_stat.php?pr=glory-star-new-media-group-holdings-limited-partners-with-industry-leader-jdcom-for-premium-entertainment-services-in-china\" alt=\"\" width=\"1px\" height=\"1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Programs for Luxury Brands Including Fendi, Prada, Gucci, and Burberry Partnered with JD.com as a Premium Entertainment Provider for China.&nbsp; Variety of Premium Content Including Popular Cheers Lifestyle Series. e-Mall GMV Growth Exceeds 4,000% YoY for E-Commerce Shopping Festival in &hellip; <a href=\"https:\/\/www.abnewswire.com\/pressreleases\/glory-star-new-media-group-holdings-limited-partners-with-industry-leader-jdcom-for-premium-entertainment-services-in-china_496981.html\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[426,436,410,417,404],"tags":[],"class_list":["post-496981","post","type-post","status-publish","format-standard","hentry","category-Financial-Market","category-India","category-Manufacturing-Industry","category-Marketing-Sales","category-US"],"_links":{"self":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts\/496981","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/comments?post=496981"}],"version-history":[{"count":0,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/posts\/496981\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/media?parent=496981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/categories?post=496981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.abnewswire.com\/pressreleases\/wp-json\/wp\/v2\/tags?post=496981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}