NEW YORK, June 29, 2021 / PRNewswire / – Color Star Technology Co., Ltd. (NASDAQ: CSCW) (hereinafter referred to as “Color Star” or the “Company”) announces that its income from the celebrity online video portion of its interactive entertainment platform, Color Star APP, is over $ 3 million and the winnings $ 1.5 million for the first half of 2021, exceeding the company’s expectations.
Since the official start on December 31, 2020, Color Star APP has hosted several online celebrity appearances. Videos of these performances were well received and sought after by fans. During the pandemic, bans and other social measures changed the entertainment industry from mostly live to almost entirely online. During this difficult time, Color Star was able to take the opportunity to launch its online interactive entertainment platform for celebrities, the Color Star APP, and succeeded in attracting celebrities from all over the world to moderate and participate in online appearances on the platform to participate. These online videos have generated excellent operating income for the company during the epidemic.
Mr. Basil Wilson, CEO of Color Star, commented, “We are delighted that our efforts are rewarded and reflected in our revenues and profits. Our collaboration with celebrities has produced great results and won the admiration of fans and audiences around the world for their active contribution our platform has resulted in our celebrity videos more than $ 3 million Sales in the past 6 months which is an appreciation of our worth. The results give us confidence in the future of celebrity videos, where we expect to incorporate more advanced technologies like 3D and virtual reality (VR) live to improve the viewing experience of celebrity performance videos. “
Color Star is committed to integrating technology and entertainment. We believe that more advanced technologies will help enrich the online concert and video experience for more consumers and fans around the world. The Augmented Reality (AR) system currently being developed by the company will be combined with future video releases to enable real-time interaction between viewers and celebrities. Color Star looks forward to producing a variety of high-tech celebrity videos in the near future that will help support the company’s growing revenue stream.
The above income has not been audited.
About the Color Star technology
Color Star Technology Co, Ltd. (Nasdaq CM: CSCW) is an entertainment and education company that provides online entertainment performances and online music education services. Its operations are conducted through its wholly owned subsidiaries, Color China Entertainment Ltd. and CACM Group NY, Inc. were wound up. The company’s online education is provided through its music and entertainment education platform, Color World. You can find more information about the company at www.colorstarinternational.com
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about plans, goals, objectives, strategies, future events or performance, and underlying assumptions and other statements that are not statements of historical fact. When the company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate,” or similar expressions that are not limited to When referring to historical matters, she makes forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that could cause actual results to differ materially from the company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to: the company’s goals and strategies; the future business development of the company; Product and service demand and acceptance; Changes in technology; Economic situation; the growth of the education and training services market in China and other countries where CSCW operates; Reputation and brand; the effects of competition and pricing; state restrictions; Fluctuations in general terms and conditions and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance on any forward-looking statements in this press release. Additional factors are discussed in the company’s filings with the Securities and Exchange Commission, which are available for review www.sec.gov . The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that occur after the date of this release, except as required by applicable law, regulation or regulation.
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SOURCE Color Star Technology Co., Ltd.