NEW
YORK, Oct. 18, 2023 /PRNewswire/ -- Color Star
Technology Co., Ltd. (Nasdaq: ADD) ("Color Star" or the "Company"),
an entertainment technology company with a global network that
focuses on the application of technology and artificial
intelligence in the entertainment industry, announces today that
its artificial intelligence (AI) virtual band plans to release its
first digital music album, "Color World" around November 2023.
The "Vibrant Music Collective" is birthed from AI music
technology developed by the Company's team. Every band member is
designed using AI technology and the entire performance is also
conducted through AI technology. The planned debut album "Color
World" includes 12 songs of different musical styles. The Company
has purchased and registered the copyrights to the lyrics and songs
on the album.
Mr. Louis Luo, CEO of Color Star,
said, "We have always been committed to the technological
development of entertainment and sports. The creation of this AI
band is a phenomenal music product created by the Company following
extensive market analysis. As AI technology becomes more prominent
in the music industry, our daily audiovisual experience will be
revolutionized. AI will be able to generate all kinds of music in
all sorts of musical genres, taking AI music concerts one step
closer to perfection. Similarly, AI artists will gradually close
the distance between virtual and reality, creating more application
scenarios and commercial value. As
reported earlier, YouTube announced in August that it is jointly
launching YouTube Music AI Incubator together with artists,
songwriters, and producers from Universal Music
Group.[1] Moreover, Warner Music signed the first
virtual singer, Noonouri, in
September.[2] All of this suggests that AI
music virtual idols is on its way to becoming the next big trend,
and in response, we are launching our own virtual AI band."
The first song of the album is currently available for free on
Color Star's official website at www.colorstarinternational.com.
The Company welcomes all comments and suggestions, including
messages for their favorite virtual idol.
References:
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[1]
https://www.universalmusic.com/youtube-announces-ai-music-principles-and-launches-youtube-music-ai-incubator-with-artists-songwriters-and-producers-from-universal-music-group/
|
|
[2]
https://www.wmg.com/news/the-independent-warner-music-sign-first-digital-character-noonoouri-and-release-debut-single
|
About Color Star Technology Co., Ltd.
Color Star Technology Co., Ltd. (Nasdaq: ADD) is an
entertainment and education company that provides online
entertainment performances and online music education services. Its
business operations are conducted through its wholly-owned
subsidiaries, Color Metaverse Pte. Ltd. and CACM Group NY, Inc. The
Company's online education is provided through its Color World
music and entertainment education platform. More information about
the Company can be found at www.colorstarinternational.com and
www.colorstar.investorroom.com.
Forward-Looking Statement
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. When the Company uses words such as
"may," "will," "intend," "should," "believe," "expect,"
"anticipate," "project," "estimate" or similar expressions that do
not relate solely to historical matters, it is making
forward-looking statements. Forward-looking statements are not
guarantee of future performance and involve risks and uncertainties
that may cause the actual results to differ materially from the
Company's expectations discussed in the forward-looking statements.
These statements are subject to uncertainties and risks including,
but not limited to, the following: the Company's goals and
strategies; the Company's future business development, including
the development of the metaverse project; product and service
demand and acceptance; changes in technology; economic conditions;
the growth of the educational and training services market
internationally where ADD conducts its business; reputation and
brand; the impact of competition and pricing; government
regulations; the occurrence of any event, change or other
circumstances that could give rise to the terms of the LOI not
hereafter being memorialized in a definitive agreement; the outcome
of any legal proceedings that have been, or will be, instituted
against Color Star or other parties to the LOI following
announcement of the LOI and transactions contemplated therein; the
ability of Color Star to meet NASDAQ listing standards in
connection with the consummation of the transaction contemplated
therein; the inability to complete the transactions contemplated by
the LOI due to the failure to meet certain closing conditions;
risks that the proposed transaction disrupts current plans and
operations and the potential difficulties in employee retention as
a result of the announcement of the LOI and consummation of the
transaction described therein; costs related to the proposed
acquisition; changes in applicable laws or regulations; the ability
of the combined company to meet its financial and strategic goals,
due to, among other things, competition, the ability of the
combined company to grow and manage growth profitability, maintain
relationships with customers and retain its key employees; the
possibility that the combined company may be adversely affected by
other economic, business, and/or competitive factors; and other
risks and uncertainties described herein, as well as those risks
and uncertainties discussed from time to time in other reports and
other public filings with the Securities and Exchange Commission by
Color Star. For these reasons, among others, investors are
cautioned not to place undue reliance upon any forward-looking
statements in this press release. Additional factors are discussed
in the Company's filings with the U.S. Securities and Exchange
Commission, which are available for review at www.sec.gov. The
Company undertakes no obligation to publicly revise these
forward–looking statements to reflect events or circumstances that
arise after the date hereof unless required by applicable laws,
regulations or rules.
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SOURCE Color Star Technology Co., Ltd.