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.
