HONG KONG, CHINA / ACCESSWIRE / June 5, 2019 / Shenzhen Interactive Space-Time Technology Co., Ltd. (“Dreamroom”), a subsidiary of V1 Group Limited (“V1 Group” or the “Group”; stock code: 00082.HK), today showcased its products at the Licensing Expo in Las Vegas, USA. The Company is one of the leading Chinese exhibitors at the event, wowing visitors with its products. As a commercial organization focusing on the development, manufacturing and sales of IP products, Interactive Space-Time is dedicated to building China’s largest customization platform for IP products.
Company Positions Blue Ocean Strategy in Domestic IP Market
According to the “2018 Beijing Cultural and Creative Industries White Paper”, the number of online video users reached 579 million in 2018, accounting for 75% of the total online users. This suggests that watching videos online is now extremely popular among Chinese people. Gaming and other by-products derived from TV series IP, meanwhile, have experienced tremendous increase in revenues, leading to an upswing in profits. It is expected that by 2035, the nation’s digital economy will grow to US$16 trillion while the digital intellectual industry will be a trillion-dollar market.
IP products are now one of the most important ways for companies to monetize the entertainment market in the United States, Japan and other countries. In Japan and the United States, the income from IP products often accounts for more than 50%, and some even exceeds 70%, of the total revenue of animation and film companies. In China, however, ticket sales at the box office remain the key method of revenue for the film industry. The domestic IP market remains an untouched “blue ocean”, waiting to be exploited.
Interactive Space-Time Taps into Lucrative IP Market
Interactive Space-Time faces multiple challenges and opportunities as competition starts to heat up in the IP market.
Regarding utilizing available resources, Interactive Space-Time has more competitive advantages compared to its peers, as its parent company, V1 Group Limited, is one of the largest new media companies and one of the earliest listed video companies in China.
Since 2018, V1 group has been focusing on the strategic direction of “Digital + New Culture and Sports”, centering on the development and monetization of IP, integrating industrial and financial capital, deploying various business lines, including media and sports games, and constructing a complete closed loop industrial chain. As subsidiary of the Group, Interactive Space-Time has abundant IP resources, through which it can conduct well-defined market segmentation and multi-dimensional IP evaluation. Additionally, V1 Group’s US branch Vland Inc., which also attended the expo, is committed to advancing the authorization of international IP in China, as well as developing distribution channels for Interactive Space-Time products in the United States.
In January 2019, during the release of the movie “Bumblebee” from the “Transformers” film series, Dreamroom held a product launch in Hong Kong. The event attracted a great number of fans and various “Transformers” electronic products such as Bluetooth speakers, routers and headphones which were popular among the attendees.
Interactive Space-time “Transformers” Series IP Products
Dreamroom products are currently available at several well-known online and offline platforms, including Jingdong, Tmall, Xiaohongshu, Suning, etc. The Company plans to expand its distribution network soon. In addition to the “Transformers” series, Interactive Space-Time has initiated collaborations with multiple international video companies and game IP owners. It is expected that more popular products will be launched this year.
In terms of product design, Interactive Space-Time currently possesses dozens of patents. Through its patents, a diverse product portfolio of 3C products, household products, culture and sports products, etc. the Company has formed an unrivalled IP matrix. For supply chain management, Interactive Space-time is devoted to utilizing its abundant product line resources, integrating production capacity through demand, and encouraging consumption according to production capacity.
Dr. Zhang Lijun, Chairman of the Board of V1 Group, said, “The demand from domestic consumers for cultural and entertainment products continues to grow at an astrounding rate and China’s IP derivatives market has entered a period of rapid growth. V1 Group adheres to the Company’s objective of creating a better life for users and transforming the current standardized consumption pattern. In the future, by leveraging the Group’s accumulated experience and resources, IP derivatives will be incorporated as one of the core businesses under the strategy ‘Digital + New Culture and Sports’, to promote the era of personalized consumption.”
Manad Yan, Chairman of Interactive Space-Time, said, “A good IP should be equipped with flexibility over time, distance and cultures. In addition, it alone should carry attributes such as traffic, scalability, and originality. We hope to create values for IP as we develop them. The cultural IP industry is an industry with high demand for strong capacity in operations and supply chain. In order to fully develop the copyright of a high-value cultural IP, value must be realized through monetization and expansion in each defined segment. It is worth mentioning that the required conditions for various means of monetization are different. The development of IP derivative products requires a supply chain system integrated with product design, R&D, mold design, small batch production, and commodity supply.
“In the future, Interactive Space-Time will focus on creating high-quality derivative products with proprietary patented rights, integrating IP resources, developing practical patents, combining supply chain and channel advantages to create new products. The group is committed to becoming China’s largest IP products customization platform.”
As culture and technology quickly merge in the modern era, IP-licensed derivatives will become the business direction. Not only is participation in the Global Licensing Expo a perfect opportunity for Dreamroom to foster conversations with other participants, but it also helps the Group gain global exposure, enhancing its brand image while at the same time it’s seen with world-class market leaders.
For more than 37 years, the Licensing Expo has been the most authoritative and influential licensing event. The event reportedly features more than 5,000 brands from over 470 exhibitors covering 23,000 square meters of floor spaces, ranging from corporate brand, cartoon characters, entertainment, active apparel, fashion, publication, art & design, food & beverage to online games. This year, it attracted 16,000 visitors from over 90 countries and regions.
The expo also gained attention from both online and traditional publication. With 157 media organizations attending, the event generated 153,189 feature interviews.
About Interactive Space-time
Interactive Space-time (Dreamroom) is a commercial organization specializing in the development, manufacturing and sales of entertainment character licensed products, as known as IP products. It is committed to building China’s largest IP products customization platform, covering brand licensing, branding, product design and development, market research, and supply chain management. The Dreamroom team has more than 10 years’ experience in running entertainment character licensing businesses, ranging from R&D, design and sales to supply chain of IP products and 3C products. By redefining an entertainment character’s native personality, redefining product functionality and structures, developing innovative and practical patents, and securing supplies from first-tier factories, Dreamroom transforms each product into a creative art piece with proprietary patented rights.
About V1 Group Limited
V1 Group was established in 2005, and went public on the Main Board of Hong Kong Stock Exchange in 2006, as the first listed Chinese company in the internet video industry. In 2015, V1 Group has established itself as one of the largest new media companies in China, later successfully transformed to be an internet conglomerate in 2016 witha diverse portfolio consisting of various business lines including media, healthcare, fintech, and cutting-edge information and communications technology. In 2018, V1 Group completed its acquisition of Easy Prime Developments Limited (Crazy Sports), accelerating its development of core business in “digital + new culture and sports”.
V1 Group Limited IR website: http://ir.v1.cn
This press release is distributed by Hill + Knowlton Strategies on behalf of V1 Group Limited.
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SOURCE: V1 Group Ltd
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