Online Streaming and Education Services Help People Adapt to a New Reality

NEW YORK, Aug. 19, 2020 /PRNewswire/ -- As the pandemic continues to put a strain on the worldwide economy, one side effect is the sharp increase in online streaming content consumption. There is still uncertainty ahead, and it is unclear how soon society will get back to how things were before the pandemic. Yet, as millions of Americans adjust to working from home, new research from Comscore, evaluating media across platforms, shows engagement with streaming services and year-over-year in-home data usage have surged in the beginning of May 2020. According to the data, overall average in-home data consumption was up 33% during the first ten days of May 2020 compared to the first ten days of May 2019 (May 1-10, 2020 versus May 1-10, 2019). Another winner will be over-the-top (OTT) media services, such as those provided by Netflix or Hulu, with revenue forecast to be up 12%, equivalent to USD 6 Billion. Color Star Technology Co., Ltd. (NASDAQ: HHT), Chegg, Inc. (NYSE: CHGG), Perdoceo Education Corporation (NASDAQ: PRDO), K12 Inc. (NYSE: LRN), New Oriental Education & Technology Group Inc. (NYSE: EDU)

Now, in a time of a pandemic, online learning has become a crucial component of daily lives for million of students. Top tier universities are included, providing full curriculums via online services. Outside the university arena, there are numerous services like such as Skillshare, Lynda, Udemy, Coursera and Udacity that provide courses separately, or other specific online education formats. Earlier this year, Udemy announced that it had raised USD 50 Billion from a single investor, to which president Darren Shimkus said, according to Forbes, "The biggest challenge is for learners is to figure out what skills are emerging, what they can do to compete best in the global market. We're in a world that's changing so quickly that skills that were valued just three or four years ago are no longer relevant. People are confused and don't know what they should be learning." 

Color Star Technology Co., Ltd. (NASDAQ: HHT) announced breaking news today that, "its wholly owned subsidiary, Color China Entertainment Limited ("Color China"), has officially reached a long-term strategic agreement with Thailand's "Sing Sian Yer Pao Daily News". In the future, the two parties will leverage on each other's strength to develop an in-depth cooperation on cultural education, brand promotion, and online star education.

It is understood that the cooperation between the two parties involves a very wide range of areas. Pursuant to the agreement, the cooperation is expected to serve as an important measure for the Company to expand its business into Southeast Asia. Color China plans to launch its self-developed star online education service software globally. After the software is launched, "Sing Sian Yer Pao Daily News" will be fully responsible for the landing and promotion in Thailand, leveraging its influence and profound resources in Thailand. "Sing Sian Yer Pao Daily News" will also actively encourage universities in Thailand to cooperate with Color China on academic education, research and advanced studies, such as Siam University, a well-known university in Thailand. At the same time, local Thai cultural products will be introduced to Color China's mobile application to show the world the Thai culture and style.

Color Star Technology CEO, Biao Lu commented, "We hope that Color Star will become a well-known brand in Thailand in providing celebrity knowledge-paid services that can be accessible both online and offline, providing students with customized content and enjoyable learning experiences. Our collaboration with 'Sing Sian Yer Pao Daily News' marks a significant step in executing our global expansion plan."

About Color Star Technology Co., Ltd.: Color Star Technology Co, Ltd. (Nasdaq: HHT) offers online and offline innovative knowledge-paid services for music and entertainment industries globally. Its official website is www.colorstarinternational.com. 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."

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Chegg, Inc. (NYSE: CHGG) announced last year that it has entered into a definitive agreement to acquire Thinkful, an online learning platform that offers professional courses directly to students across America. 85% of Thinkful graduates get jobs in their field of study within six months of graduating their program. "With the anticipated addition of Thinkful to our platform, Chegg will continue to expand our offerings and make it easier for students to accelerate their path from learning to earning," said Dan Rosensweig, CEO of Chegg. "Students are increasingly looking to improve their professional opportunities by learning the most relevant job skills, either while in school or soon after. Adding Thinkful courses to our suite of Chegg Learning Services will enable us to empower students to obtain in-demand, high-quality job skills, for the fastest-growing job categories, with affordable prices. Thinkful has achieved strong revenue growth of greater than 30% year-over-year because it has focused on going directly to students and helping them gain the most valuable skills for today's workforce."

Perdoceo Education Corporation (NASDAQ: PRDO) academic institutions offer postsecondary education primarily online to a diverse student population, along with campus-based and blended learning programs. Earlier in May reported operating and financial results for the quarter ended March 31st, 2020. Revenue increased by 8.3% to USD 171.0 Million with both universities contributing to this growth, and Operating income increased 24.5% to USD 37.3 Million. "The COVID-19 pandemic is posing unique challenges to our society, and our highest priority is the well-being of our students, employees and communities. We have leveraged our technology and processes to move our students and employees to a remote environment, while delivering on our commitments and responsibilities to serve our students," said Todd Nelson, President and Chief Executive Officer. "Although the pandemic has not had a material impact on our operating results to date, we are closely monitoring the situation and remain focused on executing against our strategy of sustainable and responsible growth."

K12 Inc. (NYSE: LRN) announced in July that online private school is now more accessible for the 2020-2021 school year as K12 Private Academy offers families a 10% discount on tuition. The reduced tuition will open the door for more families to have a safe and secure school year by accessing quality education from licensed teachers from the comfort of their homes, or anywhere in the world with an internet connection. "We are excited to continue our mission of providing a quality, online private school education for more families in the upcoming school year," said Head of School Leslie Smith. "K12 Private Academy is committed to opening the doors to families seeking an alternative learning environment and ensuring that every student has access to a school that helps them succeed."

New Oriental Education & Technology Group Inc. (NYSE: EDU) provider of private educational services in China based on the number of program offerings, total student enrollments and geographic presence. New Oriental offers a wide range of educational programs, services and products consisting primarily of language training and test preparation, primary and secondary school education, online education, content development and distribution, overseas study consulting services, pre-school education and study tour. The company offers test preparation courses to students taking language and entrance exams used by educational institutions in the United States, the People's Republic of China, and the Commonwealth countries; and after-school tutoring courses for middle and high school students to achieve better scores on entrance exams for admission into high schools or higher education institutions, as well as for children to teach English.

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