Glory Star Inks Content Agreement With ByteDance

Chinese mobile and online digital media and entertainment company Glory Star New Media Group Holdings Ltd (NASDAQ: GSMG) inked an annual content cooperation agreement with ByteDance Ltd subsidiary Beijing Youzhuju Network Technology Co., Ltd.

• Youzhuju is the operating entity of ByteDance's content platform for Chinese language news and information, Toutiao.
• Youzhuju will provide Glory Star Toutiao's real-time graphics and video content for integration into the company's CHEERS video platform under the arrangement.
• Both Glory Star and Youzhuju will develop and position software development kits and application program interfaces for the smooth integration and transmission of Toutiao's content on Glory Star's CHEERS Platform.
• Glory Star has already integrated multiple content forms into its CHEERS app.
• Glory Star will be able to include Toutiao's high-quality, personalized, and original content on its CHEERS video platform via its cooperation with Youzhuju. It will help increase the number of content scenarios on the CHEERS video platform and enrich the platform's overall content ecosystem to satisfy its users' diverse information needs and significantly enhance their immersion and activity.
• Price action: GSMG shares are trading higher by 6.01% at $3.53 on the last check Tuesday.