NEW YORK, May 6, 2021 /PRNewswire/ -- Video streaming content has grown rapidly in recent years, and the trend is expected to continue. New technologies, such as AI, play a major role in in editing, cinematography, voice-overs, scriptwriting, and several other aspects of video production and uploading, as various video streaming solution companies are using AI to improve the content quality of their videos. In addition, social media companies have capitalized over time on the popularity live streaming. In fact, the live streaming segment accounted for the largest revenue share in 2020, with around 61% of market share. This is attributed to the surging demand for digital media devices, coupled with faster internet helping consumers access media content remotely. And, according to data published by Grand View Research, the global video streaming market size was valued at USD 50.11 Billion in 2020. It is also expected to expand at a compound annual growth rate (CAGR) of 21.0% from 2021 to 2028. Scienjoy Holding Corporation (NASDAQ:SJ), Amazon.com, Inc. (NASDAQ:AMZN), Alphabet Inc. (NASDAQ:GOOGL), Baidu, Inc. (NASDAQ:BIDU), Tencent Holding Ltd. (OTC:TCEHY)

Augmented reality is now becoming a more prominent technology in the social media sector. After Snapchat pioneered it, Facebook, Instagram, Pinterest and TikTok have launched their own lenses, filters and effects. In the process, AR has shown its value not only for branding and entertainment, but also for commerce. A few recent developments from the social media world include Facebook's roll out of AR advertising and Instagram adding try-on features. According to a report by eMarketer, the shutdown of many retail stores spurred some marketers to invest more in AR as a way to offer virtual try-on and other experiences typically only available in-store.

• Total net revenues are expected to be in the range of RMB335 million to RMB357 million, representing a year-over-year increase between 55% to 65%.
• Adjusted Net Income1 is expected to be in the range of RMB72 million to RMB75 million, representing a year-over-year increase between 90% to 100%.
• 'Adjusted net income' is defined as net income excluding change in fair value of contingent consideration and warrant liabilities. For more information, refer to "Use of Non-GAAP Financial Measures" at the end of this press release.

'These preliminary first quarter metrics highlight our solid sequential revenue growth, steady improvements to profitability, and strong business fundamentals,' said Victor He, Chairman and Chief Executive Officer of Scienjoy. 'During the quarter, as a result of our efforts to upgrade our platforms, advance our R&D capabilities, and refine our platform operations, we continued to attract and retain more users and broadcasters throughout our entertainment livestreaming ecosystem. Looking ahead, we remain committed to increasing engagement on our platforms and recognizing the significant potential of emerging technologies, such as augmented reality, virtual reality, NFTs, and more. As such, we plan to continue exploring these use cases to unlock new development opportunities, grow our platform communities, and deliver lasting shareholder value.'

These select preliminary unaudited financial results are based upon information available to the Company as of the date of this press release and subject to change in connection with the Company's financial closing procedures and finalization of the Company's financial statements for the first quarter ended March 31, 2021. The Company's actual results may vary materially from these estimates. In addition, the Company's independent registered public accounting firm has not audited or reviewed, and does not express an opinion with respect to, this preliminary data. Accordingly, these estimates should not be viewed as a substitute for the Company's full interim financial statements."

Amazon.com, Inc. (NASDAQ:AMZN), Amazon Music and Twitch announced last September, the incorporation of Twitch's live streaming functionality into the Amazon Music app, enabling fans to engage with artists in brand-new ways and move seamlessly between live streams and recorded music.  iOS and Android artists across the world can connect live with Amazon Music's customers across all streaming tiers. "The combination of live streaming, coupled with the on-demand playback of songs on Amazon Music is groundbreaking," said Ryan Redington, Director, Amazon Music. "We're providing artists with more tools to instantly engage with fans, and this new feature couldn't arrive at a more crucial time in the industry. More than 1,000 artists have already connected their Amazon Music accounts to Twitch, and this is just day one. Together with Twitch, we're making it possible for artists across all genres, at all moments of their careers, to harness the social power of live streaming to create more engagement with their recorded catalog."

Alphabet Inc. (NASDAQ:GOOGL) subsidiary YouTube announced last year that the platform will be the exclusive live streaming home for Felix Kjellberg, aka PewDiePie, one of the world's most popular gaming celebrities and content creators. "YouTube has been my home for over a decade now and live streaming on the platform feels like a natural fit as I continue to look for new ways to create content and interact with fans worldwide," Kjellberg said. "Live streaming is something I'm focusing a lot on in 2020 and beyond, so to be able to partner with YouTube and be at the forefront of new product features is special and exciting for the future." 

Baidu, Inc. (NASDAQ:BIDU) announced last November, that the Company had entered into definitive agreements with JOYY Inc. ("JOYY"). Pursuant to the agreements, Baidu will acquire JOYY's domestic video-based entertainment live streaming business in China ("YY Live"), which includes YY mobile app, YY.com website and PC YY, among others, for an aggregate purchase price of approximately US$3.6 billion in cash, subject to certain adjustments. The closing of the transaction is subject to certain conditions and is currently expected to occur in the first half of 2021.  "Baidu has built a vibrant mobile ecosystem in the past few years to enable the fast growth of our non-advertising revenues by increasing log in users, adding social engagement to our platform and expanding non-advertising offerings, including membership, live streaming and online games. This transaction will catapult Baidu into a leading platform for live streaming and diversify our revenue source." said Robin Li, Co-Founder and CEO of Baidu.

Tencent Holding Ltd. (OTC:TCEHY) announced on January 19th, its social networking tool Weixin celebrated its 10th anniversary at this year's Weixin Open Class PRO, and disclosed that its ecosystem has continued to grow with flagship services including Mini Programs having attracted more users and served more businesses.  Weixin Video Accounts, or Channels, empowers businesses and other influencers to create and watch video and photo feeds. Weixin Channels was only in operation for one year, but has been widely adopted by brands and influencers as a fun and creative way to grow their fan bases. A number of well-known brands such as Nio, JD.com and Baidu have utilized short videos or live-streaming to grow followers, as well as market and sell products directly to consumers.

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. FinancialBuzz.com has not been compensated directly by any of the companies mentioned here in this editorial unless mentioned otherwise. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For scienjoy holding corporation video production, filming editing, news reporting, financial and corporate news dissemination, FinancialBuzz.com has signed a two month agreement and been compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com has agreed to fifty thousand restricted shares, FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.