GSMG NASDAQ GS 3.8700 0.0800 ( 2.11% ) Vol: 43666 Last Updated Apr 16 03:59PM EDT

Investor Relations

Glory Star Signs Annual Content Agreement with a Subsidiary of ByteDance

BEIJINGMarch 9, 2021 /PRNewswire/ -- 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 it has signed an annual content cooperation agreement (the "Agreement") with Beijing Youzhuju Network Technology Co., Ltd. ("Youzhuju"), a wholly-owned subsidiary of ByteDance Ltd. ("ByteDance").

Youzhuju is the operating entity of Toutiao, which is ByteDance's content platform for Chinese language news and information. Under the Agreement, Youzhuju will provide to Glory Star Toutiao's real-time graphics and video content for integration into the Company's CHEERS video platform. The Agreement further provides that both Glory Star and Youzhuju will jointly develop and deploy software development kits and application program interfaces to ensure the smooth integration and transmission of Toutiao's provided content on Glory Star's CHEERS Platform. Glory Star and Toutiao recognize the enormous market potential of the 5G era and thus plan to work together going forward in order to explore more innovative opportunities for cooperation in many other fields, including search and AI.

Glory Star has already integrated many forms of content into its CHEERS app, including CHEERS e-Mall, an original short-form video IP matrix, high-quality short- and medium-form user generated video content, audio, self-produced TV dramas and variety shows, the CHEERS series variety programs, interactive live broadcasts, games, graphics, and more. Glory Star will be able to include Toutiao's high-quality, personalized, and original content on its CHEERS video platform through its cooperation with Youzhuju. This will help to further expand the number of content scenarios on the CHEERS video platform as well as enrich the platform's overall content ecosystem, which will enable Glory Star to satisfy the diverse information needs of its users and significantly enhance their immersion and activity. More importantly, the cooperation between Glory Star and Youzhuju will play a significant role in strengthening connections between users, content, and consumption on the CHEERS video platform as well as improving Glory Star's ability to convert its CHEERS e-Mall traffic.