Benzinga | Oct 13, 2020 06:31AM EDT

Color Star Technology Plans To Launch Offline Music Festival Series

NEW YORK, Oct. 13, 2020 /PRNewswire/ -- Color Star Technology Co., Ltd. (Nasdaq CM: CSCW) (the "Company", or "Color Star"), a company engaged in the businesses of providing online and offline paid knowledge services for the media, entertainment and culture industries globally, announced today that it plans to launch "Color World"-branded offline music festival series (the "Festival Series"), furthering the Company's aspirations to build "Color World" into a leading entertainment-centric paid knowledge services platform which connects musicians, artists and celebrities with its growing bases of fans, followers and users. The Company is currently in discussion with multiple well-established music festival brands to co-organize up to 30 music festivals with different genres over the next five years in different cities across Asia and beyond.

"As receding COVID-19 pandemic allows China and most Asian countries to gradually get back to normal, so will be the demand for outdoor music festivals in these countries. Music festivals have gained increasing popularity in China and other Asian countries in recent years, often attracting tens of thousands of participants who use it as social venues to enjoy not only live performances but also other attractions such as food, merchandise vending, and other social or cultural activities. The Festival Series, combined with our online offerings such as online concerts, courses, "star teacher"- fan meetings, and our soon-to-be launched online celebrity merchandise store, will add fuel to the fire for our already rapidly expanding user base," said Luke Lu, Chairman and Chief Executive Officer of Color Star.