GSMG Beats Revenue expectations. Glory Star New Media Group (Nasdaq: GSMG) Announces Second Quarter and Half Year 2020 Key Metrics Highlights.
GSMG Second Quarter and Half Year 2020 Key Metrics Highlights, they are impressive.
- Downloads of the CHEERS App(1) exceeded 121.0 million as of June 30, 2020, compared to 35.5 million as of June 30, 2019.
- Average daily active users ("DAUs")(2) of the CHEERS App increased to 4.9 million for the three months ended June 30, 2020 from 1.0 million in the same period of 2019. DAUs of CHEERS App increased to 4.5 million for the six months ended June 30, 2020 from 0.7 million in the same period of 2019.
- Stock Keeping Units ("SKUs")carried in the Company's e-Mall were 19,984 as of June 30, 2020, compared to 3,000 as of June 30, 2019.
- Gross Merchandise Value (GMV)(3) in the three month ended June 30, 2020 was over $14.1 million, compared to $1.0 million in the same period of 2019. GMVs in the six months ended June 30, 2020 was approximately $20.0 million, compared to $1.0 million in the same period of 2019.
Second Quarter and Half Year 2020 Financial Highlights
- Total revenuesin the second quarter of 2020 increased by 6.3% to $19.7 million as compared to $18.5 million in the same quarter of 2019. For the first half of 2020, total revenues decreased by 8.8% to $29.4 million, compared to $32.2 million in the same period of 2019.
- Total operating expenses in the second quarter of 2020 decreased by 7.2% to $11.1 million as compared to $11.9 million in the same quarter of 2019. For the first half of 2020, total-operating expenses decreased by 15.5% to $17.9 million, compared to $21.2 million in the same period of 2019.
- Income from operations in the second quarter of 2020 increased by 30.7% to $8.6 million as compared to $6.6 million in the same quarter of 2019. For the first half of 2020, income from operations increased by 4.2% to $11.5 million, compared to $11.0 million in the same period of 2019.
2020 Q2 increased by 75.4% to $11.6 million as compared to $6.6 million in the same quarter of 2019. For the first half of 2020, non-GAAP net income attributable to ordinary shareholders increased by 35.5% to $14.6 million, compared to $10.7 million in the same period of 2019.
Partnership with CNLive.com a Leading Content Distributor in China Serving the Top Three Chinese Telecoms: China Mobile, China Unicom and China Telecom with Over 1 BILLION Subscribers.
GSMG provides Premium Entertainment Services in China; Programs for Brands Including Fendi, Prada, Gucci, Burberry, Tencent, Alibaba, Weibo, Iqiyi as well as traditional consumer brand clients such as Starbucks, Pantene, Louis Vuitton, Samsung and Sony etc
- Partnered with JD.com as a Premium Entertainment Provider for China.
- Variety of Premium Content Including Popular Cheers Lifestyle Series.
- e-Mall GMV Growth Exceeds 4,000% YoY for E-Commerce Shopping Festival in China.
- Content Programs Completed for Multiple International Luxury Brands.
Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) is a leading mobile entertainment operator in China. Glory Star's ability to integrate premium lifestyle content, including short videos, online variety shows, online dramas, live streaming, its Cheers lifestyle video series, e-Mall, and mobile app, along with innovative e-commerce offerings on its platform enables it to pursue its mission of enriching peoples' lives. The company's large and active user base creates valuable engagement opportunities with consumers and enhances platform stickiness with thousands of domestic and international brands.
- GSMG partners with comInc. ("JD") is 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. Digital Clients Include: Tencent, Alibaba, Weibo, Iqiyi as well as traditional consumer brand clients such as Starbucks, Pantene, Louis Vuitton, Samsung and Sony etc
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.
- Completion of Content Production Programs for Multiple Luxury Brands
On June 09th, 2020 GSMG announced it has successfully completed content production programs for multiple international luxury brands, including Fendi, Prada, Gucci, and Burberry.
Currently, China has begun to lead the way toward recovery from the COVID-19 pandemic, and Chinese consumers are set to cement their status as crucial growth drivers for the industry going forward. According to Bain & Company's Luxury Study 2020 Spring Update released in May 2020, Chinese consumers are expected to account for approximately 50% of the total global market for luxury goods in 2025 compared to 35% in 2019. The total number of China's upper-middle-class households is expected to reach 350 million by 2025 with a compound annual growth rate of 28% from 2018 to 2025.
- Production for 3rd Season of Flagship Online Variety Show Hello! Rapper
On May 27th GSMG announced plans to begin production of the third season of its flagship online variety show Hello! Rapper in June 2020. As one of the first music-centric variety shows in China, the inaugural season of Hello! Rapper was produced by GSMG in 2017. The show was an instant online success, collecting over 100 million views.
For more information on GSMG visit: http://www.yaoshixinghui.com/
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