NEW YORK, Dec. 7, 2020 /PRNewswire/ -- Color Star Technology Co., Ltd. (Nasdaq CM: CSCW) (the "Company", or "Color Star"), an entertainment and education company that provides online entertainment performances and online music education services, today announced that an international version of its Color World App is currently undergoing testing with official launch scheduled for December 31, 2020.
Color World App offers both a Chinese version, which launched on September 10, 2020 and an international version, to be launched by the end of 2020. Since its launch in less than three months ago, the Chinese version has already attracted over 600,000 registered users and over 50 celebrity coaches. It currently offers online performances, live streaming, online celebrity classes, and celebrity and influencer co-branded products. The international version is designed as a platform to attract world renowned artists, athletes, and other professionals to provide more diversified and culturally rich performances. The Company also plans to host offline concerts and music festivals in 2021 with simultaneous online streaming on the Color World App.
The Company expects to generate revenues from its Color World App subscription service, with a monthly fee of $9.90 or an annual fee of $99.
"Color World International will become another pillar for our entertainment infrastructure and facilitate online and offline integration. In 2021, we will promote our Color World App to more countries and regions and host a variety of offline performances. We expect to use the App to provide more vibrant and diversified contents to our ever-growing number of users," Commented Luke Lu, Chairman and Chief Executive Officer of Color Star.
About 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 business operations are conducted through its wholly-owned subsidiaries Color China Entertainment 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.
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; product and service demand and acceptance; changes in technology; economic conditions; the growth of the educational and training services market in China and other countries where CSCW 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.
For more information, please contact:
Sherry Zheng
Weitian Group LLC
Email: shunyu.zheng@weitian-ir.com
Phone: +1-718-213-7386
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