BEIJING, March 23, 2022 /PRNewswire/ -- Joy Spreader Group Inc. ("Joy Spreader" or the "Company", Stock Code: 06988.HK), a leader in new media performance-based marketing, announced its 2021 annual results on the evening of March 20. The results show that Joy Spreader maintained steady growth in 2021. For the reporting period, Joy Spreader booked operating revenue of HK$1.396 billion, an increase of 51.08% YoY. Net profit for the year stood at HK$245 million, an increase of 76.41% YoY.
The Company attributed the solid growth in 2021 to the maintenance of high growth of its marketing services via short-form videos (SFVs) on e-commerce platforms in China and the successful launch of a similar business model on overseas SFV platforms in the fourth quarter of 2021.
Specifically, the interactive entertainment and digital product marketing business achieved revenue of HK$960 million in 2021, a YoY increase of 19.43%. The marketing services via SFVs on e-commerce platforms in China posted revenue of HK$288 million, 2.43 times of that in 2020. While existing businesses maintained steady growth, Joy Spreader continued to expand in 2021, launching new businesses in several locations, with new media-based marketing as the key driver.
In the fourth quarter of 2021, following successful market tests, the Company launched its marketing service on overseas SFV e-commerce platforms, and has now expanded online and offline distribution channels in multiple countries. The new marketing business has made a significant breakthrough by achieving sales of HK$148 million for the year ended December 31, 2021.
In September 2021, Joy Spreader signed a comprehensive strategic cooperation agreement with Poly Film, an entertainment and culture firm under the aegis of the Chinese central government, to co-develop and grow a content marketing business involving film, television, culture and entertainment. The winter sports special In the Name of Ice and Snow co-produced by Joy Spreader and Poly Film first aired on February 5, 2022 on multiple platforms, marking a milestone in Joy Spreader's efforts to establish a firm footprint in the content marketing sector.
In addition, Joy Spreader plans to continue to leverage its own content traffic, including its multi-channel networks (MCNs) as well as film, television, culture and entertainment content resources, to prepare for entry into the new media brand marketing sector in due course and provide more comprehensive, one-stop integrated marketing services. In order to meet the future demand for performance-based marketing services on new media platforms, Joy Spreader began to create its own IP content on SFV platforms in December 2018. The Company has invested in new media MCN company, Cine Vision, and will continue to enhance its own traffic as part of the long-term growth strategy.
For years, Joy Spreader has continuously optimized its many businesses and invested in the R&D of performance-based marketing on new media platforms. In 2021, in order to facilitate the rapid implementation of its new marketing services for overseas SFV e-commerce platforms and achieve better marketing results, Joy Spreader invested HK$71.79 million in the R&D of relevant products.
With the successful launch of the new business overseas, the gradual evolution of its film, television, culture and entertainment content marketing business, and the planning of its new-media brand marketing business, Joy Spreader has entered a new phase in terms of the development of diversified businesses in the international arena. Looking ahead, Joy Spreader is expected to witness accelerated growth as the new businesses and the markets they have targeted further unleash their potential.
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