FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Breaking News: Color Star Technology Announces Wiz Khalifa to Perform at “Color World” Online Concert September 9th”
Color Star Technology Co., Ltd. (NASDAQ: HHT) is pleased to announce that multi-platinum selling, Grammy and Golden Globe nominated recording artist Wiz Khalifa will perform at “Fearless, Color World,” an online concert presented by Color China Entertainment and Color Star Technology. The special online event will take place September 9th.
The “Fearless, Color World” online concert featured on the Color World app is a new type of concert launched by Color Star Technology which provides innovative training and educational services in the arts. The concert has invited many world-class artists to perform, hoping to make the audience feel the peace of the world and eternal love.
Everyone has been spending more time indoors amid the spread of a pandemic. As a result of the social distancing and working from home, more time is being spent on online entertainment, for both video and music. A report by Music Ally indicates that according to a U.S.-based survey, 60% of people are “engaging more with entertainment during this time” while 24% have signed up to a new subscription service – with 79% of them intending to keep paying for it after the pandemic ends.” This isn’t just music, but entertainment more widely – streaming video for example. When asked what subscription services they have added or intend to add, 81% said video, 38% said music, and 14% video games – more than 100% because some people added multiple subscriptions.
Unrelated to the pandemic and the ramifications from it, music streaming services were already causing major changes to how the music industry operated. Album sales were down across the board, but live concerts were becoming more popular over the past decade. And now that the pandemic has halted live events, music streaming platforms need to innovate. According to a report by Deloitte Insights, “Some music platforms are innovating by hosting virtual concerts for artists. While it may be impossible to re-create the concert experience in a living room, many digital platforms are bringing artists closer to fans. Tidal, for example, is offering consumers free access to virtual concerts as part of its “At Home with Tidal” program.”
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