Meten EdtechX Establishes TikTok Multi-Channel Network to Address Digital Education Market
January 19 2021 - 8:30AM
Meten EdtechX Education Group Ltd. (Nasdaq: METX)
(“Meten EdtechX” or the “Company”), a leading omnichannel
English language training (“ELT”) service provider in China, today
announced that it has established the TikTok multi-channel network
(“MCN”) to address the digital education market.
Likeshuo, the online ELT platform incubated by
Meten EdtechX, established the TikTok MCN in August 8, 2020 and has
been providing internet celebrity ELT short videos on TikTok since
August 8, 2020, which has engaged over 200 internet celebrities to
record short videos and has over 300 million cumulative views as of
January 2021. Meten EdtechX is committed to enhance its brand
awareness on TikTok multi-dimensionally by leveraging the Company’s
foreign teacher resources, and providing ELT vertical video content
with multiple accounts and through multi-channel marketing.
TikTok short videos attract tremendous traffic
efficiently with low customer acquisition costs, which enables the
Company to increase its brand awareness and becomes a new growth
point of the Company. TikTok’s large and growing monthly active
user base (MAU) is likely to provide Likeshuo with additional
opportunities for brand exposure. Compared with the traditional
marketing approaches, such as advertisements, the experiential
marketing nature of video content makes it more compatible with the
long conversion chain of decision-making products such as
education. Using the front-end traffic from TikTok as a channel for
brand building and communication, short videos as an emerging
traffic dividend can help Likeshuo gain a large number of customers
in a short period of time.
About Meten EdtechX
Meten EdtechX is a leading ELT service provider
in China, delivering English language and future skills training
for Chinese students and professionals. Through a sophisticated
digital platform and nationwide network of learning centers, the
Company provides its services under three industry-leading brands:
Meten (adult and junior ELT services), ABC (primarily junior ELT
services) and Likeshuo (online ELT). It offers superior teaching
quality and student satisfaction, which are underpinned by cutting
edge technology deployed across its business, including AI-driven
centralized teaching and management systems that record and analyze
learning processes in real time.
The Company is committed to improving the
overall English language competence and competitiveness of the
Chinese population to keep abreast of the rapid development of
globalization. Its experienced management is focused on further
developing its digital platform and expanding its network of
learning centers to deliver a continually evolving service
offerings to a growing number of students across China.
For more information, please visit:
https://investor.metenedu-edtechx.com.
Safe Harbor Statement
This announcement contains forward-looking
statements that involve risks and uncertainties. These statements
are made under the “safe harbor” provisions of the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking
statements can be identified by terminology such as “will,”
“expects,” “anticipates,” “future,” “intends,” “plans,” “believes,”
“estimates” and similar statements. Statements that are not
historical facts, including statements about the Company’s beliefs
and expectations, are forward-looking statements. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: the impact of the COVID-19 outbreak, our
ability to attract students without a significant decrease in
course fees; our ability to continue to hire, train and retain
qualified teachers; our ability to maintain and enhance our “Meten”
brand; our ability to effectively and efficiently manage the
expansion of our school network and successfully execute our growth
strategy; the outcome of ongoing, or any future, litigation or
arbitration, including those relating to copyright and other
intellectual property rights; competition in the English language
training sector in China; changes in our revenues and certain cost
or expense items as a percentage of our revenues; the expected
growth of the Chinese English language training and private
education market; Chinese governmental policies relating to private
educational services and providers of such services; health
epidemics and other outbreaks in China; and general economic
conditions in China. Further information regarding these and other
risks is included in our annual report on Form 20-F and other
documents filed with the Securities and Exchange Commission. The
Company does not undertake any obligation to update any
forward-looking statement, except as required under applicable law.
All information provided in this press release and in the
attachments is as of the date of this press release, and the
Company undertakes no duty to update such information, except as
required under applicable law.
For investor and media inquiries, please
contact:
Ascent Investor Relations LLCTina Xiao+1
917-609-0333tina.xiao@ascent-ir.com
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