NEW YORK, July 6, 2021 /PRNewswire/ -- Color Star Technology Co., Ltd. (NASDAQ: CSCW) (hereinafter referred to as "Color Star" or the "Company") announces that, in cooperation with the Dubai Tourism Bureau, it will hold a live music concert at the Dubai International Convention and Exhibition Center on July 23, 2021.
The live music concert to be held in Dubai will be a prelude to Color Star's plans to resume live concerts in many locations around the world. The Company expects to hold more than 50 global concerts in the next year, with some concerts to be broadcasted real-time via the interactive celebrity platform Color Star APP. The July Dubai concert will be broadcasted via Color Star APP, and will inaugurate an augmented reality (AR) intelligence system, allowing online audiences to interact with celebrities and creating a brand-new online concert experience.
The CEO of Color Star, Mr. Basil Wilson, commented: "Color Star has adopted a diversified business model that focuses on both online entertainment technologies and offline, live concert experiences. Although live concerts have always been an integral part of Color Star's business, the Company has adapted and evolved during the pandemic to become an expert in online concerts as well as the development of entertainment technologies. With the distribution and administration of vaccines, offline concerts are resuming. We are very excited about our live July event in Dubai, which also marks the rebound of our offline concert business. We are confident that Color Star will bring ever more exciting live concerts in the near future to our audiences worldwide."
For the impending Dubai concert, Color Star has invited famous Arab stars Aseel Hameem and Walid Al Sham to perform; this event will also mark the first live concert the Company holds in the Middle East. At the same time, Color Star plans to hold additional live concerts and music festivals in multiple countries and regions in the Middle East, with more than 10 million people expected to participate. The Company is also planning live concerts and music festivals in multiple U.S. cities for October 2021, reopening the offline music business. In the future, these concerts and music festivals will not only continue to contribute to the Company's copyrights, but also generate additional revenue from ticket sales, advertising sponsorship, and among others, to increase operating income. Color Star believes that after the pandemic, live concerts will experience an "explosive" comeback, and the Company will continue to grow and invest in its concert hosting capabilities.
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.
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SOURCE Color Star Technology Co., Ltd.