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Glory Star expected to further increase profitability

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Glory Star New Media Group, a Nasdaq-listed digital media platform and content-driven e-commerce company in China, is expected to be able to further increase its profitability with its growing market share and economy of scale.

The company reported a 15.8% growth in its Non-GAAP net income to US$16.9 million for the six-months ended June 30 from US$14.6 million in the same period of last year.

During the first half of this year, the company’s total revenues grew 144.6% to US$71.9 million from US$29.4 million, thanks to the increase in advertising revenues and Cheers e-Mall marketplace service revenue, primarily attributable to the development and promotion of its mobile and online businesses.

Income from operations surged 40.9% to US$16.2 million from US$11.5 million.

During the first half year of 2021, the company successfully grew its top and bottom lines as it allocated more resources to sales and marketing to augment its brand equity and fuel its long-term growth engine.

The company’s rising economy of scale will allow it to gradually reduce operating expenses and capitalize on the rising popularity of video content and deliver lasting shareholder value.

At the end of June 30, the number of downloads of the company’s Cheers App reached 215.6 million, up from 121 million a year earlier. The increase in the number, a key indicator of the attractiveness and usability of its Cheers App and its e-Mall platform traffic, showed that it had successfully converted viewers of its content to its Cheers App.

Average daily active users (DAUs) of the app grew to 7.1 million from 4.5 million for the same period. Stock Keeping Units (SKUs) on its Cheers e-Mall platform jumped to 231,630 from 19,984.

Gross Merchandise Value (GMV) of the Cheers App reached US$181.2 million in the first six months of this year, compared with US$20 million in the same period of 2020. The increase in GMV was driven significantly by its ability to attract and retain users to its Cheers App through its professionally produced content and its ability to further enhance its product offerings.

The company has a strong commitment to its corporate mission, meticulous execution of growth strategies, methodical expansion in both overseas and domestic markets, proactive engagement of Generation Z users through innovative products, and prudent investment in sales and marketing initiatives. It plans to refine its competitive edge in content-driven e-commerce of premium lifestyle, deepen our expertise in integrating quality content with lifestyle commerce, and expand our brand influence among Generation Z consumers on a global basis.

During the first half year, the resurgence of Covid-19 and its Delta variant caused the Chinese government to impose travel restrictions within mainland China, particularly in the southern regions of the country.

The company temporarily suspended the production of its traditional “Cheers Series” TV programs, thus resulting in a decline in its cost of revenues during the first six month of 2021. Once the travel restrictions are eased, the company will resume its content production activities in the second half of this year.

As of June 30, 2021, the company had cash and cash equivalents of US$20.3 million, compared with US$17.7 million at the end of last year.

Blockchain and AI technologies

Since its establishment in 2016, Glory Star has pioneered a unique, new business model integrating e-commerce services with premium video content. With the use of blockchain and AI technologies in its systems, the company has become a leading online digital media and entertainment company in China, with a strong track record both in terms of viewership and production capabilities. The company launched its Cheers App in 2018 to integrate e-commerce services with professionally generated content (PGC).

During the first half, the company produced many more live streaming shows and started to provide title sponsor advertising services at a higher price point. It also spent substantially on the development of the Cheers Chat and Cheers Car.

The company plans to provide more user-generated content (UGC) by forming partnerships with other platforms. It will allow global users to upload their content to its video platforms in the fourth quarter of this year while users will receive advertising revenue or get rewards from viewers directly.

The company will also allow content providers to use its software-as-a-service (SaaS) supply chain system with the blockchain technology that will help them match with relevant merchandisers. Content providers will be able to share the revenue from the sales of products on their video accounts.

The company’s ability to integrate premium lifestyle content, including short videos, online variety shows, online dramas, live streaming, its Cheers lifestyle video series, e-Mall, and mobile app, along with innovative e-commerce offerings on its platform enables it to pursue its mission of enriching people’s lives.

Its large and active user base has created valuable engagement opportunities with consumers and enhanced platform stickiness with thousands of domestic and international brands.

Non-fungible token

Glory Star’s Naschain platform offers one-stop solutions, which include smart contract, multichain universe and cross-chain consensus mechanisms, to users with its blockchain technology. It can help e-shoppers trace the origins of the products, avoid buying counterfeit goods, lower their logistics costs and protect their privacy.

The company has signed an agreement with the Beijing Minsheng Art Museum to use the company’s non-fungible token (NFT) technology, which can be used in copy-rights’ registration, verification, transaction and valuation, to protect the intellectual property of the museum’s artworks. The company will be able to boost its market share by acquiring some NFT service providers.

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Algoli Launches Network of Local Life Insurance Websites, Broadening Access to Digital Decision-Making

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Algoli LLC, the parent company of GetSure.org, has debuted a network of local life insurance websites to make life insurance more accessible and understandable through digital innovation. This initiative targets communities nationwide, starting with cities like San Jose, Charlotte, and Detroit, by offering tools to demystify the life insurance buying process. These tools include an eligibility analyzer, a price analysis tool, and a user-friendly online application process.

Greenbrae, California, United States, 19th Apr 2024 – Algoli LLC, the parent company of the digital life insurance platform GetSure.org, announced today the launch of a network of local life insurance websites. This expansion allows Algoli to bring its industry-leading digital life insurance tools to a broader population and is in keeping with Algoli’s mission to demystify the process of securing life insurance.

Rikin Shah, CEO of GetSure, expressed confidence in this initiative, stating, “This expansion into local life insurance websites represents a strategic and thoughtful response to the evolving needs of consumers across different communities. By leveraging digital technology, we aim to simplify the life insurance process and ensure that our tools and resources are finely tuned to the specific realities of each local market we serve. It’s about practical, tangible benefits – making life insurance more accessible and helping individuals and families navigate their options with greater clarity and confidence.”

A Pioneer In Digital Life Insurance Solutions

 

At the heart of Algoli’s new venture into local markets is its subsidiary, GetSure.org, which has become synonymous with innovation in the digital life insurance sector. GetSure.org has earned its reputation by developing tools that demystify the life insurance decision process, specifically:

  • An eligibility tool that helps individuals understand their approval prospects (across 315 medical conditions) before they apply
  • A price analysis tool that evaluates cost-effectiveness based on a series of factors, such as life expectancy
  • A 100% online, mobile-first application that allows customers to apply for a policy in 11 minutes, on average

According to Rahul Jat, Lead Developer at GetSure:

“With today’s technology, you can build the judgment of a seasoned life insurance agent into a tool and bring it to consumers at large,” says Rahul Jat, Lead Developer at GetSure. “Tools like our eligibility analyzer and price analysis tool empower consumers to make informed life insurance decisions. With the launch of our local life insurance websites, we’re ensuring that everyone, regardless of their background or location, has access to the resources they need to make informed decisions about life insurance.”

Expanding Access to Tailored Life Insurance Services

Algoli’s expansion into local markets through its network of specialized life insurance websites represents more than just a growth strategy; it’s a mission to make life insurance more personal, accessible, and tailored to the unique needs of communities nationwide. By identifying key markets where the demand for accessible and understandable life insurance information is most acute, Algoli aims to bring its innovative tools and solutions directly to the doorsteps of those who need them most.

The targeted markets for this initiative include vibrant and diverse cities such as San Jose, Charlotte, Chicago, Columbus, Denver, Detroit, Fort Worth, Jacksonville, Oakland, Orlando, and San Antonio. These cities were selected based on various factors, including demographics, market needs, and the potential to impact local communities significantly. Each location represents a unique opportunity to address specific challenges and opportunities in accessing life insurance, emphasizing Algoli’s commitment to building a more informed and financially secure future for families across these communities.

For example, Denver’s life insurance needs its rapid population growth and an increasing awareness of financial security among its residents. In contrast, cities like Detroit face unique socio-economic challenges that may require a customized approach to life insurance education and access.

Algoli’s local websites, such as lifeinsurancedetroit.com, are designed to cater to these different community needs. They offer residents a platform that provides vital information relevant to their circumstances and access to innovative tools.

Through this localized approach, Algoli aims to bridge the gap between traditional Oakland life insurance policies and the evolving needs of today’s families, making it easier for people to understand the nuances of life insurance and secure their families’ futures.

This expansion into local markets signifies Algoli’s relentless pursuit of innovative solutions that cater to the diverse needs of individuals across the United States. Algoli sets a new standard for how life insurance services can be delivered and experienced locally by providing platforms that resonate with each city’s cultural and economic fabric.

Future Expectations

As Algoli embarks on this journey into local markets, the company sets forth a vision of expansion and meaningful impact. Its entry into life insurance in San Jose, Charlotte, and Chicago, among others, is just the beginning. Algoli envisions a future where the daunting task of selecting life insurance is transformed into an empowering and straightforward process for individuals and families nationwide.

Algoli’s innovative tools—tailored to meet the needs of each community—aim to redefine the standards of the life insurance industry. The company anticipates these tools will significantly increase the number of informed insurance buyers, fostering a culture where decision-making about life insurance is done confidently and efficiently. The expected outcomes include heightened awareness about the importance of life insurance, improved access to customized insurance solutions, and, ultimately, more families enjoying the peace of mind that comes with securely protecting their futures.

And Algoli is not stopping soon. The company has its sights set on continuously improving its offerings and expanding its reach. Plans include analyzing feedback from the initial markets to enhance the user experience further and introducing additional tools that address emerging needs and technologies. Algoli also plans to expand its network to include more cities, steadily working towards a nationwide presence that makes life insurance accessible and understandable for all.

The company’s commitment to innovation, combined with a deep understanding of the diverse needs of the American population, sets the stage for a future where choosing life insurance is an informed, stress-free process. As Algoli moves forward with this initiative, it invites industry stakeholders, community leaders, and potential customers to join in this endeavor to secure a brighter, more secure future for families across the United States.

For more information about Algoli’s local life insurance websites and the tools and resources they provide, please visit the respective city websites or contact Algoli directly via the contact info provided below.

Contact
Martha Orr
Head of Media Relations, Algoli LLC
Email: [email protected]
Phone: (415) 949-0496

Media Contact

Organization: GetSure Insurance Agency

Contact Person: Rikin Shah

Website: https://getsure.org/

Email: Send Email

Contact Number: +18609668834

Address: 290 Via Casitas #102

City: Greenbrae

State: California

Country: United States

Release Id: 19042411254

The post Algoli Launches Network of Local Life Insurance Websites, Broadening Access to Digital Decision-Making appeared first on King NewsWire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

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Soileum Network: Transforming Digital Identity with Secure Open Identity Layer SOIL

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Bangalore, Karnataka, India, 19th Apr 2024 – In an era where digital identity is increasingly under scrutiny and centralized control, Soileum Network emerges as a beacon of hope, spearheading a self-sovereign decentralized identity revolution. With its inception dating back three years ago, Soileum Network has been diligently crafting a paradigm shift in the digital identity landscape. At its core lies the Secure Open Identity Layer (SOIL) technology, redefining trust in trustless decentralized environments.

Designed on the principles of innovation and security, Soileum Network operates on the SPoS (Secure Proof of Stake) consensus mechanism. This mechanism not only ensures the integrity and security of the network but also facilitates seamless scalability, essential for widespread adoption.

The versatility of Soileum Network extends across a myriad of sectors, including but not limited to governments, finance, energy, shipping, transportation, railways, airport security, and supply chain management. By bridging the gap between traditional industries and cutting-edge blockchain technology, Soileum Network opens doors to unprecedented efficiency, transparency, and security.

Originating from India, Soileum Network bears the mark of blockchain expertise under the visionary guidance of its founder, Mr. Badrinath Mutkule. The technology pioneered by Soileum is disrupting the digital identity industry at an unprecedented pace, setting new standards for innovation and reliability.

Central to the Soileum ecosystem is the $SOIL token, serving as its native currency. This token empowers users to seamlessly transact and access a plethora of services within the Soileum Network. By fostering a thriving ecosystem of transactions, $SOIL token plays a pivotal role in driving the adoption and sustainability of Soileum’s decentralized infrastructure.

As a testament to its commitment to community engagement and empowerment, Soileum Network is actively running airdrop campaigns and hosting various competitions for the global crypto developer community. By joining Soileum’s vibrant social media channels, enthusiasts and developers alike can become integral contributors to the ongoing revolution.

In conclusion, Soileum Network stands at the forefront of the self-sovereign decentralized identity revolution, powered by the innovative Secure Open Identity Layer (SOIL) technology. With its unwavering commitment to security, innovation, and community engagement, Soileum Network paves the way for a future where individuals have full control over their digital identities. Join the revolution today and be a part of shaping tomorrow’s decentralized world.

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Media Contact

Organization: Soileum Network

Contact Person: Badrinath M

Website: https://soileum.com

Email: Send Email

City: Bangalore

State: Karnataka

Country: India

Release Id: 19042411249

The post Soileum Network: Transforming Digital Identity with Secure Open Identity Layer SOIL appeared first on King NewsWire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

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Patio Productions Launches First of Four-Part Spring Into Summer Sale

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Patio Productions, a premier outdoor furniture retailer in San Diego, has launched the first of its four-part “Spring Into Summer” sale, offering 15% off already-discounted pricing on products from renowned brands Ratana, Three Birds Casual, AEI, and Pyromania through April 30th. Total savings average ~45% off MSRP for these products while supplies last. With the largest showroom in San Diego and a vast 20,000 square foot warehouse, Patio Productions ensures customers can create their dream outdoor oasis before products sell out for the season. Three more two-week sales series featuring different brands will follow.

San Diego, California, United States, 19th Apr 2024 – Patio Productions, San Diego’s premier outdoor furniture retailer, is kicking off its highly anticipated “Spring Into Summer” sales event. Running from April 16th to April 30th, this first of a series of four sales series offers deep discounts of 15% off already-discounted prices on all items from specified brands Ratana, Three Birds Casual, AEI, and Pyromania. For most products from these manufacturers this amounts to ~45% savings off MSRP.

Patio Productions Launches First of Four-Part "Spring Into Summer" Sale

These promotional prices are exclusive to Patio Productions, and are the result of many years of partnership and proven expertise.

“This spring sale celebrates the strong partnerships we’ve built over the years with these exceptional brands,” said Lynne Madden, Sales Manager at Patio Productions. “We’re thrilled to share these savings with our valued customers as they gear up for outdoor living season.”

The Spring Into Summer event spotlights Ratana‘s premium wicker patio furnishings, renowned for exceptional craftsmanship honed over 40 years. Three Birds Casual brings sustainable, grade-A teak and aluminum furniture crafted with an unwavering commitment to quality. For luxurious outdoor cooking and dining experience no matter the temperature outside, AEI offers innovative grills and patio heaters tailored for commercial and residential spaces alike. Completing the al fresco ambiance, Pyromania’s handcrafted fire pits elevate any backyard retreat.

Beyond this inaugural sale, Patio Productions has three more two-week sales series planned through late spring, each featuring exclusive discounts on different premium brands. As a true industry authority with the largest showroom in San Diego and a 20,000 square foot warehouse, Patio Productions is perfectly positioned to offer unbeatable prices on a vast array of luxury outdoor furnishings.

However, savvy shoppers know spring is prime time to secure the best selection before products sell out for the season. By kicking off the Spring Into Summer Sale now, Patio Productions ensures customers can create the outdoor oasis of their dreams before summer’s first heat wave hits.

With roots dating back to 2006 as an e-commerce drop-shipping business, Patio Productions has grown into an industry leader by offering high quality yet accessibly priced outdoor furniture. The company’s commitment to top-tier product curation and customer service make it San Diego’s go-to destination for transforming any outdoor space.

To learn more about the Spring Into Summer Sale and Patio Productions’ exceptional offerings, visit PatioProductions.com.

Media Contact

Organization: Patio Productions

Contact Person: Mike Bowman

Website: https://www.patioproductions.com/

Email: Send Email

Contact Number: +18889474449

Address: 2161 Hancock St

City: San Diego

State: California

Country: United States

Release Id: 19042411247

The post Patio Productions Launches First of Four-Part Spring Into Summer Sale appeared first on King NewsWire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

About Author

Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

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