FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Color Star Technology Co., Ltd. Announces that Japanese Idol Ryota Hayashi Will Perform at its Planned Online Concert”
Color Star Technology Co., Ltd. (NASDAQ: HHT), a company engaged in the business of providing innovative education services, is pleased to announce that the famous Japanese idol Ryota Hayashi will perform at the online concert “Fearless, Color World” hosted by the Company.
Color Star Technology, is a holding company whose primary business is offering both online and offline innovative education services. Its business operations are conducted through its wholly-owned subsidiaries Color China Entertainment Ltd. and CACM Group NY, Inc. The Company also anticipates providing an after-school tutoring program in New York via its joint venture entity Baytao LLC, and providing online music and entertainment education services via a platform branded “Color World.”
As the pandemic continues to put a strain on the worldwide economy, one side effect is the sharp increase in online streaming content consumption. In a report by Forbes, internet streaming and usage figures show that as the pandemic placed a quarter of the world’s population under lockdown, millions of people went online for entertainment and more. “Total internet hits have surged by between 50% and 70%, according to preliminary statistics. Streaming has also jumped by at least 12%, estimates show.” Data published by OMedia earlier in April indicates that increased consumption of digital content from mobile apps to TV and gaming is took place in China and Italy, with a possible increase in online traffic of as much as 50% in the two countries. Another winner will be over-the-top (OTT) media services, such as those provided by Netflix or Hulu, with revenue forecast to be up 12%, equivalent to USD 6 Billion.
Maria Rua Aguete, Senior Research Director, Video, TV and Advertising for Omdia, explained that “streaming services like Disney+ and Netflix have become the biggest winners during the lockdown as consumers have sought new entertainment experiences to keep themselves entertained. The content and user experience offered by these services have proven to be their key differentiators. In particular, the current catalogs offered by these services have become increasingly alluring to viewers, given than the pandemic has halted production of new video content.”
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