Color Star to Host XODIAC's London Concert on June 1, 2023 as the Popular KPOP Idol Group Takes the UK by Storm.

Rhea-AI Summary

Color Star Technology announces second collaboration with KPOP idol group XODIAC for a concert in London on June 1, 2023. Color Star plans to organize more concerts in Europe to increase market share and revenue.

Positive

• Color Star Technology continues to host popular KPOP idol group XODIAC, increasing market share in Europe and revenue from ticket sales and peripheral businesses.

Negative

• None.

NEW YORK, May 9, 2023 /PRNewswire/ -- Color Star Technology Co., Ltd. (Nasdaq: ADD) ("Color Star" or the "Company"), an entertainment technology company with a global network that focuses on the application of technology and artificial intelligence in the entertainment industry, today announced that it will continue to host the popular KPOP idol group XODIAC, this time hosting a concert taking place in London, UK on June 1, 2023. This will be Color Star's second collaboration with the group after their concert in the Netherlands on May 30, 2023, with plans to create another exciting audio-visual extravaganza together.

Since their debut on April 25, 2023, the new-generation super group XODIAC has quickly risen in popularity with their outstanding singing, dancing, and charm. Their debut song "THROW A DICE" quickly ignited social media, and the group has been regarded as the new-generation super idol group. XODIAC, who has already amassed a huge following, quickly organized a world tour to allow more fans to witness their talent in person. Their first stop was in Amsterdam, Netherlands, to be soon followed by London, UK, and their explosive performances are a testament to their skills and popularity. As the organizer of the two consecutive concerts, Color Star is proving its position in the entertainment industry and plan to create a stunning colorful music world with XODIAC's live performances, highlighting an immersive experience that will dazzle all viewers.

As one of Color Star's core businesses, our entertainment projects will be fully revived this year, and we plan to present multiple exciting shows and major events in partnership with international top star groups worldwide. Color Star plans to promote trending entertainment by continuously organizing concerts for various entertainment groups in Europe to increase its market share there. In the future, Color Star plans to hold multiple large-scale shows worldwide. We believe that our organization of increasing numbers of offline performances will not only increase our influence to increase the number of users of our software platform but also bring in substantial revenue from ticket sales and related peripheral businesses.

About Color Star Technology Co., Ltd.

Color Star Technology Co., Ltd. (Nasdaq: ADD) 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 Metaverse Pte. 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 and www.colorstar.investorroom.com.

Forward-Looking Statement

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, including the development of the metaverse project; product and service demand and acceptance; changes in technology; economic conditions; the growth of the educational and training services market internationally where ADD 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.

FAQ

What is Color Star Technology's latest announcement?

Color Star Technology announced its second collaboration with KPOP idol group XODIAC for a concert in London on June 1, 2023.

What are Color Star's plans for the future?

Color Star plans to organize more concerts in Europe to increase market share and revenue from ticket sales and peripheral businesses.