Touchpoint Group Holdings’ AIR RACE Announces Agreement to Host Air Race World Championship Event in Indonesia

Rhea-AI Summary

Touchpoint Group Holdings (OTCQB: TGHI) has announced a multi-year Host City Agreement with PT Pilar Pacu Perkasa to host the Air Race World Championship in Indonesia for 2022, 2023, and 2024. The event aims to attract over 1 million live spectators and reach nearly 50 million global viewers. The agreement, valued at over $8.5 million, marks a significant milestone as it will be the first ARWC event in Indonesia. CEO Nalin Jay expressed excitement about Indonesia's potential as an emerging economic superpower and highlighted plans for innovative race categories and enhanced audience experiences.

Event expected to attract over 1 million live spectators and nearly 50 million global viewers

MIAMI, Feb. 02, 2022 (GLOBE NEWSWIRE) -- Touchpoint Group Holdings, Inc. (OTCQB: TGHI), a media and digital technology holding company, today announced that its AIR RACE subsidiary has entered into a multi-year Host City Agreement with PT Pilar Pacu Perkasa to host one of its Air Race World Championship (“ARWC”) events in October 2022, 2023 and 2024 in the country of Indonesia.

This event will be held in partnership with PT Pilar Pacu Perkasa, an Indonesian Event and Sports Agency, and will be the first time that an ARWC event has been held in Indonesia. It is expected that approximately 1 million people will watch the event live. A further 50 million people are expected to view the global broadcast (forecast by Nielsen Sports).

Nalin Jay, CEO of AIR RACE Limited, stated, “We are extremely excited to announce Indonesia as one of the host countries for the AIR RACE World Championship 2022. This multi-year agreement, worth in excess of $8.5 million, clearly illustrates the commitment from  host countries to invest in our unique brand of motorsport. We look forward to putting on a spectacular show for the people of Indonesia over the next three years. Indonesia is already one of the world’s biggest and most diverse countries with an incredible future growth trend. We’re delighted to play a small part in this exciting new chapter in Indonesia’s long history. With a population of over 270 million people, it is already the 4^th most populous country in the world. In terms of purchasing power parity, it represents the 7^th largest economy in the world and is well on its way to becoming an economic superpower of the 21^st century. This is the first of many host city agreements that we expect to announce in the coming weeks as we move towards our full race calendar for 2022.”

AIR RACE World Championship is a race format originally developed by Red Bull as the Red Bull Air Race. It was founded in 2003 and has hosted 94 championship series races around the globe. It has attracted viewers in 187 countries and has been broadcast to an audience of over 230 million viewers with over 2.3 billion media impressions worldwide in its most recent season. It is the largest live spectator sports event in the world attracting over 1 million spectators to a single air race on multiple occasions in cities such as Porto and Barcelona.

AIR RACE World Championship will build on the significant legacy that the Red Bull Air Race leaves behind, and is well positioned to deliver one of the world’s most thrilling and pioneering global sporting events – focused on future tech, innovation, clean energy and spectator experience. A video overview is available here.

AIR RACE is designed to push the boundaries of modern air racing, and will deliver a platform that supports and showcases the latest technological developments in green power and advanced aerial mobility. New race categories to be introduced include electric powered aircraft, EVTOL (vertical take off and landing) and JetPacks.

Touchpoint plans to utilize its expertise in audience engagement through its application development to enhance the audience’s experience, while at the same time creating new revenue generating verticals for the races including festivilization and gaming.

About Touchpoint Group Holdings.

Touchpoint Group Holdings Inc. is a media and digital technology acquisition and software company. For more information, see http://touchpointgh.com/.   

Safe Harbor Statement

This news release may contain “forward-looking” statements. These forward-looking statements are only predictions and are subject to certain risks, uncertainties and assumptions that could cause actual results to differ from those in the forward looking-statements. Potential risks include such factors as the inability to enter into agreements with parties with whom we are in discussions, the uncertainty of consumer demand for the Company’s products, as well as additional risks and uncertainties that are identified and described in the Company’s SEC reports. Actual results may differ materially from the forward-looking statements in this press release. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company does not undertake, and it specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.

Contact

Crescendo Communications, LLC
212-671-1021
tghi@crescendo-ir.com

FAQ

What is the significance of the new agreement for TGHI regarding the Air Race World Championship?

The agreement allows TGHI to host the Air Race World Championship in Indonesia for three years, expected to draw over 1 million spectators and nearly 50 million viewers globally.

When will the Air Race World Championships take place in Indonesia?

The events will occur in October of 2022, 2023, and 2024.

How much is the Host City Agreement worth for TGHI?

The agreement is valued at over $8.5 million.

What are the expected viewer statistics for the Air Race event hosted by TGHI?

Approximately 1 million people are expected to watch live, with nearly 50 million viewers anticipated for the global broadcast.

How does TGHI plan to enhance the audience experience for the Air Race events?

TGHI plans to utilize audience engagement strategies, including application development, to enhance the overall experience and introduce new revenue avenues.