Glory Star New Media Group Holdings Limited (NASDAQ:GSMG) (“Glory Star” or the “Company”), a leading digital media platform and content-driven e-commerce company in China, today announced that it has officially launched CheerCar, its self-developed interactive entertainment application (“CheerCar”), on Tencent Auto Intelligence (“TAI”), which is an Internet of Vehicles (“IoV”) ecosystem. CheerCar is among the first batch of cooperative applications to be launched on the platform.
As an onboard interactive entertainment application (“App”) that was designed to provide entertainment in vehicles, CheerCar makes connections between passengers and in-vehicle infotainment systems closer and more efficient. As an App in Tencent’s IoV ecosystem, CheerCar allows users to set preferences and browse individualized content from the Company’s library of high-quality videos that are available on its CHEERS application platform. CheerCar also uses a personalized intelligent algorithm recommendation system to recommend contents based on user’s preferences.
To satisfy the entertainment lifestyle demands of both front- and back-seat passengers, CheerCar also provides access to content over a full range of lifestyle genres, including gourmet cuisine, tourism, celebrity, fitness, homecare, fashion, childcare, beauty, and many more. By leveraging leading technologies, such as big data, artificial intelligence (“AI”), as well as intelligent search recommendations, CheerCar is able to improve the satisfaction of in-vehicle passengers while enhancing the services provided through precision marketing, intelligent advertising, and consumer identification and analysis.
In China, the domestic production and sales of electronic vehicles have grown rapidly on a sequential basis, while the market penetration rate has also been accelerating. Traditional auto giants are ramping up the electric transformations of vehicles, while many technology giants have also announced new plans to produce automobiles. As the auto industry evolves and enters a more intelligent era, the application of smart in-vehicle applications has also been widely promoted. Through the use of the Company’s premium lifestyle content ecosystem, CheerCar will be able to provide consumers of the auto industry with a more personalized, immersive, diversified, and interactive in-vehicle audio and video experience, which will further enable the Company to capture more of the market share for the new generation of in-vehicle infotainment systems.
Mr. Bing Zhang, Chairman and Chief Executive Officer of Glory Star, commented, “CheerCar is part of the first batch of cooperative products to be launched on Tencent’s intelligent in-vehicle system. As such, we believe that CheerCar will accelerate the deployment of the new generation of infotainment systems, allow the CHEERS ecosystem and platform content to achieve a wider and more accurate reach, and facilitate the larger expansion of CHEERS+. Looking ahead, we plan to actively explore the development and application of the mobile Internet in the 5G era while enhancing the competitiveness of our CHEERS Video and CHEERS e-Mall platforms throughout the digital economy.”