Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) 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 peoples’ 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.
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.
To further the high earnings power here, GSMG management remains committed to its successful strategy of integrating premium lifestyle content with innovative e-commerce offerings to benefit from the growth of consumerism in China.
On May 11th GSMG announced its financial results for the first quarter ended March 31, 2020.
Highlights included:
Downloads of the CHEERS App1 exceeded 100.5 million as of March 31, 2020, compared to 17.2 million as of March 31, 2019.
Average daily active users (“DAUs”)2 of the CHEERS App increased to 4.1 million from 0.5 million in the same period of 2019.
The Company’s e-Mall carried over 9,602 Stock Keeping Units (“SKUs”) as of March 31, 2020, and recorded over RMB40.6 million (US$5.8 million) in gross merchandise value (“GMV”)3 through its CHEERS App in Q1.
Revenues were US$9.8 million as compared to US$13.8 million in the same period of 2019.
Income from operations was US$2.9 million as compared to US$4.4 million in the same period of 2019.
For more information on GSMG visit: http://www.yaoshixinghui.com/
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Media Contact
Company Name: GLORY STAR NEW MEDIA GROUP HOLDINGS LIMITED
Contact Person: Media Relations
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Phone: 86-138-1035-5988
Address:22nd Floor Block B Xinhua Technology Building No.8 Tuofangying South Road Chaoyang District
City: Beijing
Country: China
Website: http://www.yaoshixinghui.com/