Streaming Services Reap the Benefits of a Homebound Populace

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Jul 30, 2020, 09:00 ET

NEW YORK, July 30, 2020 /PRNewswire/ -- 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. Color Star Technology Co., Ltd. (NASDAQ: HHT), Netflix, Inc. (NASDAQ: NFLX), The Walt Disney Company (NYSE: DIS), AT&T Inc. (NYSE: T), Roku, Inc. (NASDAQ: ROKU)

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."

Color Star Technology Co., Ltd. (NASDAQ: HHT) announced breaking news this week that, "the famous Grammy Award Winning American singer Ashanti will perform at the online concert "Fearless, Color World" hosted by Color Star Technology. On September 9th, 2020, Ashanti will make a surprise appearance, bringing a special and unparalleled performance to fans all over the world online.

Ashanti burst onto the music scene with her smash hit self-titled debut album "Ashanti." It landed the #1 spot on both the Billboard Top 200 and R&B album charts, selling a whopping 504,593 units in its first week. Her first week showing set a SoundScan record as the most albums sold by any debut female artist in the chart's history, granting her a spot in Guinness Book of World Records. With her hit song "Foolish," Ashanti also secured the #1 top spot on SIX Billboard charts simultaneously. Her hit song "Foolish" stayed on the Billboard charts for 11 consecutive weeks. She made Billboard history by having her first three chart entries land in the top 10 of the Billboard Hot 100 at the same time and holding the #1 and #2 spots simultaneously on this chart. She is the first female to accomplish this feat, previously only attained by the Beatles.

With her outstanding musical talent, and dazzling identity as the "Princess of Hip Hop and R&B", she has captured the attention of hundreds of millions of fans all over the world with her beautiful singing voice and sexy and charming appearance.

As a famous R&B singer in the United States, Ashanti's songs have been widely obsessed by fans all over the world. Many familiar songs to us such as "Foolish", "What's Luv" and "Always on Time" have also made her fans express their eagerness. We will soon listen to Ashanti again at the concert.

The concert will be broadcast simultaneously on multiple portals around the world, and as the organizer of this "party on the cloud" concert, Color Star Technology aims to bring the audience a vivid experience like an on-site performance.

The concert also adopts a scene-based online interactive entertainment mode, using dazzling stage design and top-level audio equipment. All music will be played in FLAC Quality, and multiple stages will be combined into one picture frame using AI stage and professionally-installed stage for artist collaboration to ensure that global audiences can enjoy the most exciting audio-visual feast.

Color Star Technology has also added perks to viewers of this concert with its own app "Color World". Through the APP, users have the opportunity to further interact with their favorite celebrities, and follow mentors of their choice for interactions and learning.

The "Color World Cloud Concert" series of performances are based on the theme of "Fearless, Color World". In an environment plagued by the epidemic around the world, Color Star Technology is determined to bring joy and hope to global audiences through this online concert. As a result, the company has devoted its utmost effort to present the best performance with star lineup and high quality equipment support. Color Star Technology truly hopes that fans all over the world will feel the spirit of "colorful music, colorful life, colorful world".

Color Star Technology CEO, Biao (Luke) Lu, said that "we are very happy to cooperate with Ashanti, and hope that he will bring us a wonderful performance at the concert, so that hundreds of millions of viewers will share this musical feast.""

For our latest "Buzz on the Street" Show featuring Color Star Technology Co., Ltd. recent corporate news, please head over to: https://www.youtube.com/watch?v=XmNovb5rugo

Netflix, Inc. (NASDAQ: NFLX) reported recently second-quarter 2020 financial results. The report indicates that average streaming paid memberships in Q2 rose 25% year over year while streaming ARPU increased 0.4% year over year. The Company announced that they are slowly resuming productions in many parts of the world. It is furthest along in Asia Pacific (where we never fully shut down in Korea, for example) and are now shooting live action series like season 2 of our Japanese original The Naked Director. In EMEA, we are now back in production in many countries, including Germany, France, Spain, Poland, Italy, and the UK. While we recently resumed production on two films in California and two stop-motion animation projects in Oregon and expect some more of our US productions to get going this quarter, current infection trends create more uncertainty for our productions in the US.

The Walt Disney Company (NYSE: DIS) announced earlier in April that Disney+ has now achieved another new milestone, with 50 million paid subscribers globally within five months after its U.S. launch. Disney+ is the dedicated streaming home for movies and shows from Disney, Pixar, Marvel, Star Wars, National Geographic, and more. "We're truly humbled that Disney+ is resonating with millions around the globe, and believe this bodes well for our continued expansion throughout Western Europe and into Japan and all of Latin America later this year," said Kevin Mayer, Chairman of Walt Disney Direct-to-Consumer & International. "Great storytelling inspires and uplifts, and we are in the fortunate position of being able to deliver a vast array of great entertainment rooted in joy and optimism on Disney+."

AT&T Inc. (NYSE: T) announced recently the launch of HBO Max to tens of millions of its wireless, video and internet customers in the United States. "We couldn't be more excited to bring HBO Max and its incredible content to millions of our customers. Our top wireless, internet and video plans and packages now include your favorite shows and movies, all in one place with HBO Max - at no additional charge," said Thaddeus Arroyo, CEO of AT&T Consumer. "AT&T has long been committed to ensuring our customers are connected and entertained, and HBO Max has something for everyone. It's yet another step we're taking to keep our customers connected to the world around them and the content they love."

Roku, Inc. (NASDAQ: ROKU) earlier this month findings from its annual Cord Cutting study, including new insights shared by U.S. consumers about how the COVID-19 pandemic is influencing the shift to streaming. The study found that approximately 32% of U.S. TV households do not have a traditional pay TV subscription (cable, satellite, telco), while another 25% of households identified as Cord Shavers cut back their service. When asked about intent to cut the cord fully in the next six months, 45% of Cord Shaver households said they were likely to do so. "While we entered 2020 with significant momentum around cord cutting, we're now seeing that the COVID-19 pandemic and the pause of live sports has caused consumers to rethink how they access home entertainment and what they are willing to pay," said Roku Chief Marketing Officer Matthew Anderson. "It's clear that value matters more than ever and the abundance of free content, free trials to premium streaming services and the savings that consumers achieve are fueling the shift to streaming."

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