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SHANGHAI, Feb. 25, 2019 /PRNewswire/ -- Acorn International, Inc. (NYSE: ATV) ("Acorn" or the "Company"), today announced that its content management division, Acorn Streaming, has expanded to include the Company's collectibles products previously sold only through its Call Center outbound marketing channel. Streaming content today represents a $6 billion market in China according to a 2018 market analysis report from iRresearch. Acorn Streaming has been developing live and pre-recorded "pay-to-view" content as well as content to drive e-commerce sales that it is distributing through online streaming platforms.
"China is witnessing a rapid convergence of streaming content (live and pre-recorded), social media, and e-commerce, " said Jacob Fisch, Acorn International's CEO and President. "At Acorn, a decade ago we dominated the TV infomercial, direct to consumer business in China, and we are now redirecting this expertise from TV media to online streaming media. Today in China, consumers are engaging primarily through their phones with content - much of which they are increasingly paying for on a 'pay-to-view' basis - at the same time they are shopping for products and interacting socially with their friends or celebrity idols online through social media. We are focused on developing a strong presence in this space once again by bringing in foreign celebrity talent and brands to drive traffic to our content, which we plan to monetize by selling the content and using that content to drive sales of our branded products."
David Laris, Managing Director of Acorn Entertainment, which oversees Acorn Streaming, continues: "Acorn Streaming has been successful in driving traffic to our flagship stores on China's largest e-commerce channels. With the addition of collectibles, which has historically been one of our key product categories offline, we are able to engage with our existing customers via new media, providing additional opportunities to build customer loyalty and drive repeat purchases."
Mr. Laris continued, "As we move forward, we plan to incorporate more advanced big data analytics into our marketing platform to enhance our competitive position and better tailor our product offerings to our growing customer base."
About Acorn Streaming
Acorn Streaming is a content platform that leverages Acorn's over 20 years of expertise in content production and direct marketing as well as e-commerce marketing and merchandizing (through Acorn Product). Acorn Streaming creates "pay-to-view" content for direct to consumer distribution, as well as content to support Acorn Entertainment's social media business and content to drive e-commerce sales. For more information, visit: www.acorninternationalgroup.com.
About Acorn International, Inc.
Acorn International is a leading marketing and branding company in China, leveraging a twenty-year direct marketing history to monetize brand IP, content creation and distribution, and product sales, through digital media in China. Previously the leading TV infomercial company in China, Acorn today has three divisions support its growth: 1) Product Division, 2) Content Division, and 3) Influencer Management Division.
In the Product Division, Acorn sells product primarily through e-commerce channels in China, as well as through offline distribution and outbound marketing. In the Content Division, Acorn monetizes content. Specifically, in the Content Division, Acorn has redirected its direct marketing know-how to digital media in China, launching Acorn Streaming, which is primarily focused on live streaming and pre-recorded video content creation and distribution. In the Influencer Management Division, Acorn brings, through the creation of digital social content, leading U.S. celebrity talent and brands to China, representing their in-country digital presence. For more information visit www.acorninternationalgroup.com.
Safe Harbor Statement
This news release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "anticipates," "believes," "estimates," "expects," "future," "going forward," "intends," "outlook," "plans," "target," "will," "potential," and similar statements. Such statements are based on management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties, and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance, or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties, or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events, or otherwise, except as required by law.
Contact:
Compass Investor Relations
Elaine Ketchmere, CFA
Phone: +1-310-528-3031
Email: Eketchmere@compass-ir.com
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