Shenzhen, China, October 19, 2020 (NEWSWIRE) -- ATIF Holdings Limited (Nasdaq: ATIF, the “Company”), a company providing business consulting and multimedia services in Asia, today announced that its majority-owned subsidiary, Leaping Group Co., Ltd. (“LGC”), a leading multimedia and advertising firm in Northeast China, has invested in the production of ‘Macao Stories’, an anti-gambling themed film that will be released in Q4 2020 on China’s Top 3 online video streaming platforms; iQiyi, Tencent Video, and Youku.
According to the China's Internet Audio-Visual Development Research Report 2020 released by China Internet Audio-Visual Program Service Association, the effective playback counts was 9.98 million for each film on streaming platforms in the first half of 2020 and the user penetration rate of iQiyi, Tencent Video and Youku totaled 79.1%. In 2019, the market of online integrated video including internet movie and internet TV series reached RMB102.34 billion, a 15% year-over-year growth. Based on the market statistics and LGC's previous film investment had reached 200% return on investment, LCG expects the broadcast of the ‘Macao Stories’ on the major streaming platforms will bring in substantial return on investment.
Mr. Jiang Tao, CEO of LGC said, ‘Macao Stories’ incorporates elements such as Kong Fu and magic and has a casting of both mainland and Hong Kong celebrities that tailors present mainstream consumer appetites. The film ‘Macao Stories’ skillfully makes use of humorous and intriguing techniques to reflect a more profound social issue in our society. Its artistry and entertaining nature are equally applauded by professional commentators during the pre-view.
“We have seen how Covid-19 is accelerating development of video streaming platforms. In North America, globally famous media streaming platforms such as Netflix, Hulu, HBO Max and Disney+ etc. have all had exponential growths during the epidemic period. Nowadays more and more content creators and film production companies have realized the importance of such platforms. We also believe this trend will make an impact on Chinese market too, which is also likely to transform the film distribution market in a great way. We anticipate that this film will become one of LGC’s signature works.” Mr. Jiang added.