SHANGHAI, Sept. 21, 2018 /PRNewswire/ -- Acorn International, Inc. (ATV) ("Acorn" or the "Company"), today announced that it has expanded its e-commerce business into live streaming and short form-videos in China. Formerly a top infomercial company in China, Acorn has redirected its direct marketing know-how to digital media in China, launching Acorn Streaming, which is primarily focused on live streaming and pre-recorded video content creation.
China's live streaming users grew 23% year-over-year to 422 million in 2017 according to the China Internet Network Information Center (CNNIC), with over 40% viewing live streaming on a daily basis. Acorn is leveraging nearly 20 years of direct marketing expertise in China to transition from its legacy tie to TV media to online live streaming media, launching both "pay per view" live streaming as well as "click to buy" live streaming e-commerce.
Acorn Streaming is currently streaming across multiple media channels in China, including JD.com and Tmall, as well as multiple niche platforms that support live and/or pre-recorded streaming. Acorn Streaming is also developing longer, episode-oriented, pre-filmed video content, in some cases derived from its live streaming content, which can be put across these same platforms as well as other popular platforms in China that support pre-filmed content.
Jacob A. Fisch, CEO and President of Acorn International, stated, "Acorn International was a first mover and leader in the TV infomercial space and spent two decades honing its direct marketing capabilities. With the change of regulations and other market shifts, we have moved away from TV direct marketing and identified new media where we can apply our depth of experience. Live streaming and its short-form video counterpart have emerged as this new media in China."
Acorn's Executive Chairman Robert Roche commented, "We are building an ecosystem among our new business units: Acorn Fresh, an e-commerce provider of high quality food products, Acorn Entertainment, serving brands and celebrities, including celebrity chefs, and Acorn Streaming, which works closely with major and niche digital media platforms across China. We view this ecosystem as a powerful platform that will drive revenues in the future."
About Acorn International, Inc.
Previously the leading TV infomercial company in China, Acorn International today leverages its twenty-year TV direct marketing history to monetize brand IP, content creation and distribution, and product sales, through digital media in China. At Acorn today, three divisions support its growth: 1) Product Division, 2) Content Division, and 3) Influencer Management Division.
In the Product Division, Acorn sells product primarily through e-commerce channels in China, as well as through offline distribution and outbound marketing. In the Content Division, Acorn monetizes content. Specifically, in the Content Division, Acorn has redirected its direct marketing know-how to digital media in China, launching Acorn Streaming, which is primarily focused on live streaming and pre-recorded video content creation and distribution. In the Influencer Management Division, Acorn brings, through the creation of digital social content, the best U.S. celebrity talent and brands to China, representing their in-country digital presence. For more information visit www.acorninternationalir.com.
Safe Harbor Statement
This news release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "anticipates," "believes," "estimates," "expects," "future," "going forward," "intends," "outlook," "plans," "target," "will," "potential," and similar statements. Such statements are based on management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties, and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance, or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties, or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events, or otherwise, except as required by law.
Compass Investor Relations
Elaine Ketchmere, CFA