Color Star Technology to Kick Off Offline Music Festival Series in China

NEW YORK, Oct. 16, 2020 /PRNewswire/ -- Color Star Technology Co., Ltd. (Nasdaq CM: CSCW) (the "Company", or "Color Star"), a company engaged in the businesses of providing online and offline paid knowledge services for the media, entertainment and culture industries globally, announced today that it will kick off its "Color World"-branded Music Festival Series (the "Series") in mainland China with the first of the Series to be announced in coming weeks.

The Company also announced that it will offer exclusive benefits for its over 600,000 registered "Color World" users, including discount pricing for festival tickets and other peripheral products, voting for their favorite musicians with the biggest vote-getters to be invited to perform at the festivals, chances to be selected to meet festival performers backstage, and discounts and coupons for shopping at the Company's online store which is scheduled to debut on October 25, 2020.

Luke Lu, Chairman and Chief Executive Officer of Color Star, commented, "To organize or co-organize up to 30 music festivals with different genres over the next five years is one of the high-priority strategic initiatives for the Company. With the recovery of the China economy in full swing after the COVID-19 pandemic, the demand for music festivals and concerts is strong and likely to continue in our view, making China as the first stop of the Series a logical choice for us. Our China team is currently working intensively on the first festival and we look forward to updating our fans, followers and users on the progress in coming weeks."    

About Color Star Technology

Color Star Technology Co, Ltd. (Nasdaq CM: CSCW) offers online and offline paid knowledge services for media, entertainment and culture industries globally. Its business operations are conducted through its wholly-owned subsidiaries Color China Entertainment Ltd. and CACM Group NY, Inc. The Company's online education is provided through its Color World music and entertainment education platform. The Company also offers after-school entertainment tutoring in New York via its joint venture entity Baytao LLC. More information about the Company can be found at 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 concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements.  Specifically, the Company's statements regarding the proposed co-organization of up to 30 musical festivals in the next five years are forward-looking statements. Forward-looking statements are not guarantee of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following:  the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the educational and training services market in China and other countries where CSCW conducts its business; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission.  For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof.

For more information, please contact:

Tony Tian, CFA 
Email: [email protected]  
Phone: +1-732-910-9692

SOURCE Color Star Technology Co., Ltd.