SHANGHAI, Sept. 21, 2018 /PRNewswire/ -- Acorn
International, Inc. (NYSE: ATV) ("Acorn" or the "Company"),
today announced that it has
expanded its e-commerce business into live streaming and short
form-videos in China. Formerly a
top infomercial company in China,
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.
China's live streaming
users grew 23% year-over-year to 422 million in 2017 according to
the China Internet Network Information Center (CNNIC), with
over 40% viewing live streaming on a daily basis. Acorn is
leveraging nearly 20 years of direct marketing expertise in
China to transition from its
legacy tie to TV media to online live streaming media,
launching both "pay per view" live streaming as well as "click
to buy" live streaming e-commerce.
Acorn Streaming is currently streaming across multiple
media channels in China, including
JD.com and Tmall, as well as multiple niche platforms
that support live and/or pre-recorded streaming. Acorn
Streaming is also developing longer, episode-oriented, pre-filmed
video content, in some cases derived from its live streaming
content, which can be put across these same platforms as
well as other popular platforms in China that support pre-filmed
content.
Jacob A. Fisch, CEO and President
of Acorn International, stated, "Acorn International was a first
mover and leader in the TV infomercial space and spent two decades
honing its direct marketing capabilities. With the change of
regulations and other market shifts, we have moved away from TV
direct marketing and identified new media where we can apply our
depth of experience. Live streaming and its short-form video
counterpart have emerged as this new media in China."
Acorn's Executive Chairman Robert
Roche commented, "We are building an ecosystem among our new
business units: Acorn Fresh, an e-commerce provider of high quality
food products, Acorn Entertainment, serving brands and celebrities,
including celebrity chefs, and Acorn Streaming, which works closely
with major and niche digital media platforms across China. We view this ecosystem as a powerful
platform that will drive revenues in the future."
About Acorn International, Inc.
Previously the leading TV infomercial company in China, Acorn International today leverages its
twenty-year TV direct marketing history to monetize brand IP,
content creation and distribution, and product sales, through
digital media in China. At Acorn
today, 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, the
best U.S. celebrity talent and brands to China, representing their in-country digital
presence. For more information visit
www.acorninternationalir.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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SOURCE Acorn International, Inc.