NEW YORK, July 24, 2023 /PRNewswire/ — Color Star Technology Co., Ltd. (Nasdaq: ADD) (“Color Star” or the “Company”), an entertainment technology company with a global network that focuses on the application of technology and artificial intelligence in the entertainment industry, announces that its subsidiary, Color Metaverse Pte. Ltd. (“Color Metaverse”), and Times Capital Research Co., Limited (“TCR”) have entered into a framework strategic partnership agreement to work on gathering investments to Color Metaverse’s various live event projects. Under the new agreement, Color Metaverse expects to increase box office revenue while also boosting commercial income through investments and commercial sponsorships.
TCR offers many services, with business marketing being its most prominent. Through different forms of media, online communities and social networking platforms, TCR provides services such as creative marketing, media placements, self-promotion, online and offline PR activities, KOL marketing, various ads on various social media feeds, SEO optimization, etc. TCR will also assist enterprises in localization and globalization management, guiding their development and providing them a large amount of business resources. For this reason, the planned cooperation between Color Star and TCR will help strengthen Color Metaverse’s live performance projects and also increase business channels through TCR’s resources and introduce new business partnerships in Asia and worldwide.
Recently, Color Star began cooperating on the marketing of various projects and events around the world. Specifically in Asia, cooperation has been achieved in terms of project execution and ticketing. The Company has also increased its efforts towards establishing strategic partnerships with more outstanding businesses.
“In the live events industry, we believe that the biggest profit comes from ticket revenue and commercial sponsorships,” explained Louis Luo, CEO of Color Star. “We plan to build our own event ticketing ecosystem, while also actively inviting new investors to cooperate with us, which will help us strive in the booming live events industry and bring in a continuous stream of income. We are breaking regional barriers, establishing partnerships with production companies in specific regions, and doing our best to perfectly execute our projects, delivering that perfect experience for the public.”
About Color Star Technology Co., Ltd.
Color Star Technology Co., Ltd. (Nasdaq: ADD) is an entertainment and education company that provides online entertainment performances and online music education services. Its business operations are conducted through its wholly-owned subsidiaries, Color Metaverse Pte. Ltd. and CACM Group NY, Inc. The Company’s online education is provided through its Color World music and entertainment education platform. More information about the Company can be found at www.colorstarinternational.com and www.colorstar.investorroom.com.
Forward-Looking Statement
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantee of future performance and involve risks and uncertainties that may cause the 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 following: the Company’s goals and strategies; the Company’s future business development, including the development of the metaverse project; product and service demand and acceptance; changes in technology; economic conditions; the growth of the educational and training services market internationally where ADD conducts its business; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business 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 upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof unless required by applicable laws, regulations or rules.
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SOURCE Color Star Technology Co., Ltd.
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