NEW YORK, Oct. 13, 2020 /PRNewswire/ -- Color Star
Technology Co., Ltd. (Nasdaq CM: CSCW) (the "Company", or "Color
Star"), a company engaged in the businesses of providing online and
offline paid knowledge services for the media, entertainment and
culture industries globally, announced today that it plans to
launch "Color World"-branded offline music festival series (the
"Festival Series"), furthering the Company's aspirations to build
"Color World" into a leading entertainment-centric paid knowledge
services platform which connects musicians, artists and celebrities
with its growing bases of fans, followers and users. The Company is
currently in discussion with multiple well-established music
festival brands to co-organize up to 30 music festivals with
different genres over the next five years in different cities
across Asia and
beyond.
"As receding COVID-19 pandemic allows China and most Asian countries to gradually
get back to normal, so will be the demand for outdoor music
festivals in these countries. Music festivals have gained
increasing popularity in China and
other Asian countries in recent years, often attracting tens of
thousands of participants who use it as social venues to enjoy not
only live performances but also other attractions such as food,
merchandise vending, and other social or cultural activities. The
Festival Series, combined with our online offerings such as online
concerts, courses, "star teacher"- fan meetings, and our soon-to-be
launched online celebrity merchandise store, will add fuel to the
fire for our already rapidly expanding user base," said
Luke Lu, Chairman and Chief
Executive Officer of Color Star.
About Color Star Technology
Color Star Technology Co, Ltd. (Nasdaq CM: CSCW) offers online
and offline paid knowledge services for media, entertainment and
culture industries globally. 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. The Company also offers after-school entertainment
tutoring in New York via its joint venture entity Baytao
LLC. 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. Specifically, the Company's
statements regarding the proposed co-organization of up to 30
musical festivals in the next five years are 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.
For more information, please contact:
Tony Tian, CFA
Email: ttian@weitianco.com
Phone: +1-732-910-9692
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SOURCE Color Star Technology Co., Ltd.