Acorn International Establishes Acorn Digital Services
- Social Media and Digital Services Agency under Acorn International to Target Broader Range of Brands Seeking to Maximize Their Business in China
SHANGHAI, China, June 25, 2019 – Acorn International, Inc. (NYSE: ATV) (“Acorn” or the “Company”), a leading marketing and branding company in China, today announced that it has consolidated under Acorn Digital Services the following business units: Acorn Entertainment (“AE”) and Acorn Streaming, which are Acorn’s social media management business and digital content business, respectively, as well as A-KOL (standing for “Acorn Key Opinion Leader), which facilitates the development of local China influencers with the objective to optimize their ability to convert Acorn’s content into product sales.
Acorn International’s business model combines social media management, content creation and sales of its own as well as third-party brands through e-commerce. The establishment of Acorn Digital Services over Acorn Entertainment, Acorn Streaming, and A-KOL consolidates Acorn’s digital agency business under one unit.
Mr. Jacob A. Fisch, Acorn’s President and CEO noted: “Acorn’s business is and has always been about incubating promising new brands in a low risk manner. Acorn Digital Services is structured to allow us to incubate these brands while getting paid as we go as a third-party service provider.”
In regard to the overall business model, Mr. Fisch noted further: “Social commerce is at the intersection of social media, content creation and e-commerce, allowing brands of all sizes to increase conversion rates by leveraging their social media reach. Brands that are embracing this rapidly evolving trend in China are getting a head start on the competition and positioning themselves for success. We believe Acorn Digital Services’ expanded focus will result in greater visibility and higher conversion rates for Acorn and our clients in China.”
About Acorn International, Inc.
Acorn International is a leading marketing and branding company in China, leveraging a twenty-year direct marketing history to monetize brand IP, content creation and distribution, and product sales, through digital media in China. For more information visit www.acorninternationalgroup.com.
Safe Harbor Statement
This news release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “anticipates,” “believes,” “estimates,” “expects,” “future,” “going forward,” “intends,” “outlook,” “plans,” “target,” “will,” “potential,” and similar statements. Such statements are based on management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties, and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance, or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties, or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events, or otherwise, except as required by law.
Compass Investor Relations
Elaine Ketchmere, CFA