GHY Invests in a Series of Mandopop Superstar Jay Chou's Carnival World Tour Concerts in China
A series of Jay Chou’s Carnival World Tour concerts were held in the city of Hohhot in the People's Republic of China ("PRC") from 17 August 2023 to 20 August 2023 (周杰伦"嘉年华"演唱会呼和浩特 站) and will be held in the city of Taiyuan in the PRC from 21 September 2023 to 24 September 2023 (周杰伦"嘉年华"世界巡回演唱会太原站).
GHY has the rights to undertake the production of concerts for Jay Chou in Singapore, Malaysia, Australia, Thailand, Japan and the PRC (excluding Hong Kong and Macau) either on a long-term basis or without any expiry in time.
Singapore, 11 September 2023 – G.H.Y Culture & Media Holding Co., Limited ("GHY", and together with its subsidiaries and its PRC Affiliated Entities1, the "Group"), a leading player in the media and entertainment industry, is pleased to announce that Beijing Changxin Film & Media Co., Ltd (北京长信影视传媒有限公司), an indirect associated company of GHY, has entered into two cooperation agreements to invest in a series of Jay Chou's Carnival World Tour concerts in the PRC that were held in August 2023 and that will be held in September 2023.
The reopening of the PRC has brought on new opportunities arising from the pent-up demand for concerts and live entertainment in the PRC. According to data from the China Association of Performing Arts, ticket revenue from commercial performances was close to RMB 5 billion in the first quarter, surging about 111 percent from a year ago; and the number of audience members skyrocketed 143 percent to 22 million2.
Anchored by its two core businesses of TV Program and Film Production and Concert Production, the Group expects its business operations to further normalise in FY2023.
Mr. Guo Jingyu (郭靖宇), Executive Chairman and Group CEO, said, "Similar to the trends in other countries, demand for concerts and live performances have surged significantly in the PRC since COVID-related restrictions were lifted in late 2022.
Mandopop superstar Jay Chou is hugely popular in the PRC, where he has a strong fan base. It has been nearly three years since his last concert in the PRC and hence, we believe there will be strong demand for his large- scale concerts that we are excited to be a part of.”
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