Color Star expands into Europe, and digital entertainment revenue will grow in European and American markets

NEW YORK, April 19, 2022 /PRNewswire/ — Color Star Technology Co., Ltd. (Nasdaq: CSCW) (“Color Star” or the “Company”), a globally networked entertainment technology company focused on the application of technology and artificial intelligence in the industry entertainment, recently announced that its Singaporean subsidiary, Color Metaverse Pte. Ltd., has officially entered into a strategic cooperation agreement with Versatile Music International Ltd. (hereinafter referred to as “Versatile Music”). As a high-tech enterprise, Color Star will cooperate closely with Versatile Music in the field of online digital entertainment.

British Versatile Music company Versatile Brass is one of the largest brass bands in the world. The band has had the honor of performing for His Royal Highness Prince Edward and His Holiness the Pope, as well as participating in various important shows and events. Soon, the group will also display their artistry and deliver legendary performances to users around the world on the Color World metaverse platform. Following the cooperation agreement, Versatile Music will join the Color World metaverse platform and create its own exclusive online company. At the same time, the two parties will focus on producing online concerts and celebrity masterclasses. This will help Color Star expand further in European and American markets, attracting more European and American users to join the platform. On the other hand, Versatile Music will also use their influence in the UK to promote Color World. Not only that, based on Color World’s current celebrity course selection, more famous celebrities from Europe and United States will join the platform to become Color Star tutors in the future. This resulting influx of new courses, virtual goods, and other digital products will set off a chain reaction resulting in endless new content for the platform. This will likely increase Color World’s number of diverse revenue channels.

For Color Star’s geographic expansion strategy, the European and American markets are obviously very important. The diversity of their population and their market environment will bring unlimited development potential to the Company. Color Star has established a professional team to carry out market analysis, research and cooperation negotiations in the hope that through the Color World metaverse platform, global art and cultures can be displayed, while enabling more businesses and businesses to generate revenue and improve prospects. .

Lucas Capetian, CEO of Color Star, said, “The main goal of our cooperation with our many partners has always been to be mutually beneficial for both parties. This cooperation with Versatile Music allows our two companies to have a better commercial development by using our respective resources and assets. At the same time, online digital entertainment and related products will also generate revenue. And through this, Versatile Music will help us attract more European and American users and business partners.

About Color Star Technology Co., Ltd.

Color Star Technology Co., Ltd. (Nasdaq: CSCW) is an entertainment and education company that provides online entertainment shows and online music education services. Its business activities are conducted through its wholly owned subsidiaries, Color China Entertainment Ltd. and CACM Group NY, Inc. The Company’s online education is delivered through its Color World music and entertainment education platform. For more information about the company, visit www.colorstarinternational.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 regarding future plans, objectives, goals, strategies, events or performance, as well as underlying assumptions and other statements other than statements of historical fact. Where the Company uses words such as “may”, “will”, “intend”, “should”, “believe”, “expect”, “anticipate”, “plan”, “estimate” or similar expressions that do not relate solely to historical matters, it makes forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially from the Company’s expectations described in the forward-looking statements. These statements are subject to uncertainties and risks, including, but not limited to, the following: the Company’s objectives and strategies; the future business development of the Company, including the development of the metaverse project; requesting and accepting products and services; changes in technology; economic conditions; the growth of the international education and training services market in which CSCW operates; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions and assumptions underlying or relating to any of the foregoing and other risks contained in the Company’s filings with the Securities and Exchange Commission. For these and other reasons, investors are cautioned not to place undue reliance on any forward-looking statements contained in this press release. Other factors are discussed in the Company’s filings with the United States Securities and Exchange Commission, which may be viewed at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances occurring after the date hereof, except as required by applicable laws, regulations or rules.

SOURCE Color Star Technology Co., Ltd.

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