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Thursday, May 19, 2022

Color Star Technology Co. Ltd. (CSCW) stock is rising in the Pre-market; why is this happening?

Color Star Technology Co. Ltd. (CSCW) stock is gaining in the pre-market after announcing a deal with Versatile Music. CSCW stock values at $0.16, gaining more than 6% from the previous close. CSCW stock closed at $0.15 with a trading volume of 10.20 million shares.


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Global Entertainment Industry Dynamics

Color Star Technology Co., Ltd. (CSCW) is a company that provides online and offline entertainment and education related to arts and music. The company operates via different subsidiaries such as Color China Entertainment and CACM Group NY.

Experts predict that the global media and entertainment business will see tremendous expansion in the future. In 2021, the worldwide market for media and entertainment was estimated to be worth around $2.3 trillion. From 2022 to 2028, it is predicted to expand at a compound annual growth rate of 5.9 percent, reaching a total value of $3.5 trillion.

CSCW: Color Star Deal with Versatile Music

Color Star Technology Co., Ltd. (CSCW) and Versatile Music International Limited (VMIL) have formally engaged in a strategic partnership deal. Versatile Music and Color Star will work closely together in online digital entertainment utilizing Color Star’s high-tech expertise.

As a result of the partnership, Versatile Music will join the Color World metaverse platform and set up its online corporation. As a result of this collaboration, online concerts and celebrity masterclasses will be produced by both parties simultaneously. As a result, Color Star will be able to reach a broader audience in Europe and the United States, bringing in new members from those regions. Versatile Music will utilize its UK reach to market Color World.

Conclusion

Color Star’s new deal with Versatile Music will bring a new audience for them and expand into new markets and help them achieve their future goals. The company plans to expand into the metaverse, and the deal with Versatile Music could help them increase their community.

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