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
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.
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:
Weitian Group LLC
SOURCE Color Star Technology Co., Ltd.