Must Read Breaking News On NASDAQ Profile (GSMG) CHEERS e-Mall GMV Growth Exceeds 4,000%
Based On This Report, See Why Glory Star New Media Group Holdings Limited Needs To Be On Your Radar Now
Drop everything you're doing and pull up Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) right this second.
Established in November 2016, Glory Star has pioneered a unique, new business model integrating e-commerce services with premium video content.
The Company has become a leading online digital media and entertainment company in China, with a strong track record both in terms of viewership and production capabilities.
In 2017, the company launched their signature lifestyle video series, Cheers. In 2018, they launched the CHEERS APP to integrate e-commerce services with professionally-produced content.
BREAKING GSMG NEWS TODAY
CHEERS e-Mall GMV Growth Exceeds 4,000% YoY during the 6.18 E-Commerce Shopping Festival in China
BEIJING, June 23, 2020 (GLOBE NEWSWIRE) -- Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) (“Glory Star” or the “Company”), a leading mobile and online digital media and entertainment company in China, today announced that the Gross Merchandise Value (GMV) for its CHEERS e-Mall online e-commerce platform grew by 4,009% year over year to RMB50.6 million and order volume increased by more than 780% year over year in 2020 during the 6.18 e-commerce shopping festival, a highly popular mid-year e-commerce shopping bonanza occurring annually in China.
Read The Full Article Here.
Recently, the company announced a content update on its partnership with JD.com that they believe will bring them millions in revenue:
GSMG Glory Star New Media Group Holdings, Anticipates a Multi-Mn Dollar Revenue Stream with Industry Leader JD.com for Premium Entertainment Services in China
GSMG partners with JD.com Inc. (“JD”), one of China’s largest e-commerce platforms. As part of the partnership with GSMG, the company will develop solutions to help JD fulfill their customers’ needs for premium lifestyle-oriented online content, in the forms of text and short-form videos. The content production for JD.com is a great addition to Glory Star’s premium digital client lists which includes Tencent, Alibaba, Weibo, Iqiyi as well as traditional consumer brand clients such as Starbucks, Pantene, Louis Vuitton, Samsung and Sony.
JD.com is a leading technology driven e-commerce company transforming to become the leading supply chain-based technology and service provider. JD.com is the largest retailer in China, a member of the NASDAQ100 and a Fortune Global 500 company.
To further the high earnings power here, GSMG management remains committed to its successful strategy of integrating premium lifestyle content with innovative e-commerce offerings to benefit from the growth of consumerism in China.
This Partnership Could Be A True Game-Changer!
“While the outbreak of CV-19 has gradually been brought under control, we are excited to resume our content production in May as part of our partnerships with all of our clients,” commented Mr. Bing Zhang, Chairman and Chief Executive Officer of Glory Star. “In the past three years, we have leveraged our industry-leading content production and content marketing capabilities to serve consumer brands both at home and abroad. Through our collaboration, our premium content will help JD better serve its massive customer base by establishing a complete content service ecosystem. As we actively explore additional collaboration opportunities with JD for a long-term partnership, we are confident that our partnership will serve as an important driver for our growth and a success case for us to forge more strategic partnerships going forward.”
Prior to this announcement, the company announced their 2019 financials in what looks to be a press release that has flown under-the-radar to this point.
Huge Potential GSMG Catalyst: Operating + Financial Update
Take a look at some of the operating and financial highlights for yourself:
- Downloads of the CHEERS App exceeded 85 million for the year ended December 31, 2019, compared to 12 million for the year ended December 31, 2018.
- Average daily active users (“DAUs”) of the CHEERS App increased to 1.9 million from 0.4 million in the full year of 2018.
- Glory Star’s e-Mall sold over 13,180 Stock Keeping Units (“SKUs”), recording over RMB133.76 million (US$19.36Mn) in gross merchandise value (“GMV”) through its CHEERS App in the same period.
- Revenues increased by 16.7% to US$65.8Mn from US$56.4Mn in the full year of 2018.
- Income from operations increased by 94.4% to US$26.8Mn from US$13.8Mn in the full year of 2018.
- Operating margin expanded to 40.8% from 24.5% in the full year of 2018.
- Net income attributable to Glory Star’s shareholders increased by 94.5% to US$26.3Mn from US$13.5Mn in the full year of 2018.
- Net margin expanded to 40.0% from 24.0% in the full year of 2018.
These robust financial and operating results were driven by the GSMG innovative business model, increasingly competitive value propositions, and ability to capitalize on the growing market opportunity. GSMG remained committed to bolstering production capabilities for tailored content and increasing collaborations with experienced producers to develop popular network dramas.
Notably, by leveraging professionally-generated content, GSMG has attracted an increasing number of users to its CHEERS App, as evidenced by the sevenfold increase in CHEERS app downloads on a year-over-year basis and the 365.9% growth in DAUs for 2019. As a result of such improvements, GSMG significantly increased the GMV for its CHEERS App during the full year of 2019.
Even with CV-19 pandemic, GSMG's CHEERS APP was off to a hot start in 2020. Here are more operating highlights from Q1 2020:
First Quarter 2020 Operating Highlights
- Downloads of the CHEERS App exceeded 100.5Mn as of March 31, 2020, compared to 17.2Mn as of March 31, 2019.
- Average daily active users (“DAUs”) of the CHEERS App increased to 4.1Mn from 0.5Mn in the same period of 2019.
- The Company’s e-Mall carried over 9,602 Stock Keeping Units (“SKUs”) as of March 31, 2020, and recorded over RMB40.6 million (US$5.8Mn) in gross merchandise value (“GMV”) through its CHEERS App in the first quarter of 2020.
Over 100Mn Downloads! Over 4.1Mn Daily Active Users!
Can you say GSMG is trending in the right direction? If you don't think so, just take a look at its 2-month chart: