Apps like Tinder are changing from dating tools to party places as more people enjoy the single life

HONG KONG, Jan 22, 2023 – (ACN Newswire) – "Being consciously single" is not a new term. Over the past few years, especially during the pandemic, it has become a trend to enjoy staying single.

According to a study by Bumble, a dating app where women are dominant, 53% of respondents said that it is "actually OK" to be partnerless. Instead of searching in dating apps aimlessly, people are more inclined to live with elegance and confidence before meeting the right person. Another survey also shows that 83% of women are content to wait until finding their Mr. Right. In other words, people are more cautious about dating and building a relationship.

Despite this, humans' desire for social connection will never wane for we are social animals, and consequently, this creates a breakthrough point from which social networking apps can adapt to users' shifting demands.

Dating apps like Tinder are actively incorporating interactive and immersive features to attract users to congregate. Beyond such conventional products, fashionable social apps launched by companies such as Newborn Town and Hyperconnect, offering various audio- and video-based features for online-party and friend-making, have become companions in users' leisure time. Meanwhile, IMVU and similar social apps, derived from the concept of metaverse, allow users to interact in virtual scenarios with a virtual avatar and to join real parties without leaving home.

It can be said that social apps are evolving from a dating tool for two to a gathering place for all.

1. Tinder starts to "Explore"

In September 2021, Tinder launched "Explore" to diversify social networking experiences. Explore has been providing multiple interactive modes and features at the very beginning, including Hot Takes, Vibes and Swipe Night. Aside from many subsequent innovative explorations, it has recently introduced a Festival Mode. With these new features, Tinder becomes more of an entertaining and companionable app than a simple tool in which users can swipe left or right. Users can also filter out more accurate interest tags by these activities and thus meet like-minded intimates.

A few days ago, Tinder released a user trend report for 2022 on its website, subtitled Dating Games are Dead in 2022 said Young Singles. As stated in the report, Tinder saw a 49% increase in members adding the phrase "situationship" to their bios in 2022. In other words, rather than being a tool for looking for a partner, Tinder offers a variety of social networking activities for young people to identify compatible relationships that can progress naturally without being defined purposively.

Match Group, the parent firm of Tinder, revealed in June 2021 that it had acquired Hyperconnect successfully, a leading social discovery and video technology company from Korea. According to Match Group, they are going to develop their products with Hyperconnect's expertise in the video industry. It is conceivable that social apps like Tinder will update more video functions to broaden interactive experiences for members.

2. New genes of emerging social apps

Unlike traditional dating apps that cater to new trends by function adjustments, social products emerged recently no longer focus on date matching, but appear in front of global users with genes of partying and companionship.
MICO, a live-streaming video social app, has gained popularity in MENA, Southeast Asia, Japan, South Korea and North America over the past year or so. This app has a ton of features, including the ability for users to do or watch live streaming, make video calls or text chats with their friends or anybody they are into, and even play mini-games while chatting.

Similar to TikTok, content creators in MICO attract fans with their talent and charm, then, as a result of sharing interests, a social network centred on the creator is established. According to MICO, its users are incredibly loyal, social networks in the app can accompany users for a very long time, and meeting and having fun with friends through MICO has become a daily ritual for many.

Behind MICO is Newborn Town, a global company with audio and video social networking as its core business. Aside from MICO, there is a voice-based social product by Newborn Town called YoHo, as well. YoHo, in contrast to MICO, concentrates on the MENA market and is also experiencing strong growth in Southeast Asia. That is mainly because in these regions where religious norms and culture are more conservative, voice socialization is more user-adaptable than video socialization that necessitates revealing one's face.

There are many voice rooms with different themes in YoHo, so users can chat with strangers in whichever room they like or set up a room with their friends. These voice rooms, accommodating as many as hundreds of speakers or as few as two or three, have developed into hubs for users to socialize, make friends and share information.

3. A virtual social paradise in metaverse

Over the past year or so, the metaverse concept has taken over the world. Even Facebook, a well-known social media company, has become Meta. Socialization is an indispensable element of metaverse. Then, as metaverse is getting well-known, an increasing number of social apps with metaverse are showing up in app stores, making socialization more imaginative.

In a social app called IMVU, more than one million people visit it and spend an average of 55 minutes per day. These users customize their avatars, share experiences, shop, hang out at cool parties, and even earn real money creating virtual products on IMVU. Currently, IMVU provides more than 60 million virtual props, from clothing to different accessories, with which users can personalize their virtual avatar to fully express their individual style. In addition, users can also tailor their chat rooms, host, or join parties in various virtual scenarios, and interact with others with exclusive dynamic.

IMVU stated in late 2022 that it would unveil Limited Edition NFTs. NFTs will more incentivize creators of virtual goods and complete IMVU's metaverse. After looking into IMVU and other equivalent products, we may already get a glimpse of the future of social networking and even the ultimate form of the internet. These apps are no longer just a place for users seeking a romantic relationship, instead, they have evolved into a platform for one to infinitely connect with others without space-time constrains, and to engage in actual social interactions in a virtual world.

Socialization, as a rigid demand of humans, has never changed, but social scenes and forms are continually evolving to meet users' requirements. Today, online dating services, which have been available for almost 30 years, are being different as a result of the fact that young people are no longer addicted to fast-food dating and relationships.

Nowadays, these services place a greater emphasis on giving users the chance to showcase their special traits and meet close friends, realizing immersive online social experiences, forming permanent spiritual companionship, and building a kind of paradise for various virtual parties.

For further information, please contact:
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Survey reveals that 60% of respondents from Hong Kong want to play video games with others during Lunar New Year

HONG KONG, Jan 19, 2023 – (ACN Newswire) – Video games are becoming more and more prevalent in daily life and in popular entertainment. As the Lunar New Year is approaching, Xbox commissioned YouGov to conduct a representative survey of the age 13+ online population with 611 samples to better understand consumer attitudes toward video games, as well as consumer preferences for behavior over the Lunar New Year period.

Overall, more Hong Kong people are choosing video games as their first choice for daily entertainment, with Generation Z and Millennials being the most likely to do so. More than three quarters of respondents play video games as an entertainment activity, and more than half of them play video games at least once a week, with one-quarter playing once a day or more frequently. The survey also revealed that Hong Kong video game players prefer games that are simple to play, are multiplayer, are entertaining, and are also interactive. The top five game genres according to the survey are Racing, Platformer, Lifestyle Simulation, Management Simulation and Match Three. Among them, Baby Boomers prefer Match Three, Millennials prefer Management Simulations, and Gen Z gamers prefer Lifestyle Simulation games.

The survey found that 66% of gamers prefer to play video games with others over the Lunar New Year break. Middle-aged and older generations are more concerned with how video games can foster intergenerational ties and family reunions, while younger generations think that video games are the main catalyst for social interaction. According to the data, a majority of Millennials believe that playing video games with members of different generations of their family is a great way to build relationships; 75% of Millennials believe that playing video games brings people together more than other activities, and 61% of Gen Z agree. During the Lunar New Year holiday season, 70% of respondents said they preferred playing video games to watching TV with their families because they are more interactive and engaging.

While there are differences in genre preferences across age groups, video games are generally acknowledged to play a role in fostering social interaction between friends and family members. Xbox recommends below video games which can enhance interactions during Lunar New Year gatherings, including racing game "Forza Horizon 5" & "Dirt 5", family multiplayers game "Taiko no Tatsujin: The Drum Master", management simulation game "Two Point Campus" and match three game "Bejeweled 3".

Copyright 2023 ACN Newswire. All rights reserved.

ShineGlobal Social Networking Market Report 2022: ByteDance, Match Group, NewbornTown & More Lead Industry Trends

HONG KONG, Jan 17, 2023 – (ACN Newswire) – Social networking establishes the connection and interaction between people. Entering the Internet era, social networking products bring everyone closer to each other. For Internet companies, social networking products are closest to people and can build an infinite commercialization derivative space based on the relationship chain, which is why this business looks both sexy and real.

Recently, ShineGlobal, a global industry think tank, released the "Global Audio and Video Social Networking Market Report 2022" which provides a detailed overview of the global audio and video social networking market size, market segmentation in 2022, and the industry development trends in 2023.

After the epidemic, audio and video social networking has undoubtedly become the most popular product format in the sector, and more and more developers are eager to have a try. In addition to TikTok, a short-video app that has successfully achieved globalization in recent years, audio and video social apps such as Match Group's Azar, Joyy's Bigo Live, and NewbornTown's MICO have gradually become the main force of globalization.

1. Audio and Video Social Networking Has Become the "Rigid Demand" for Users Around the World

In 2022, although our offline activities gradually restored, the online life is still a major trend, and people continue to migrate their life scenes from offline to online. Social networking, as an indispensable part of people's daily life, has maintained a rapid growth. Currently, most social networking products on the market have incorporated audio or video features with strong immersion, making users, especially the young, more dependent on these products.

According to Frost & Sullivan's forecast, the global social media market size is expected to grow at a CAGR of 15.1% from 2021 to 2024, with a CAGR of 27.6% for video social market size and 25.8% for audio social market size. The growth rate of audio and video social far exceeds the overall growth rate of online social market. It is expected that by 2024, the overall size of the global social media market will reach US$300 billion, of which the audio and video social market size is US$181.3 billion. Video social is expected to reach US$128.7 billion, accounting for 42.8%; audio social is expected to reach US$52.6 billion, accounting for 17.5%.

Currently, the normalization of the epidemic has driven a high increase in users' time spent on social media in almost every country and region. In social apps, there is an average of 325% year-over-year growth in usage time per user. This trend is also reflected in the number of downloads. According to Branch, downloads of social apps saw rapid growth at the beginning of the outbreak, and maintained a stable trend afterwards.

In terms of market performance, global audio and video social app downloads are mainly from countries such as India, the US, Brazil, and Indonesia, while users from countries in the Middle East, Africa, and other emerging markets are embracing audio and video social products most rapidly.

In addition, the Report lists in detail the mega apps and established apps in each segment of the audio and video social networking, as well as products that have achieved rapid growth since 2022. For example, in "Sociality + Live streaming", Bigo Live and MICO are at the top. In "Sociality + Voice Call", Litmatch has grown rapidly in the past year, and its cumulative downloads exceeded 45 million in the first 10 months of 2022. In "Sociality + Game", WePlay is recognized as the product that has rapidly captured the hearts of young users in many markets around the world in the past year.

2. ByteDance, Match Group, NewbornTown and Joyy Group Have Stepped Out of Various Successful Routes

It's easy to get a social app to gain the favor of a group of people, but it's tough to get it popular in multiple countries around the world and become an integral part of their social entertainment lives. Gaining a firm foothold in multiple regions and developing into a global social product cannot be achieved without innovative product ideas and mature operation methods. ByteDance, Match Group, NewbornTown, and Joyy Group have been able to stand out from the fierce competition by putting on unique "armor" for their products.

ByteDance: Copying + Localization

We can say, the most successful global social product in recent years is TikTok. In the harsh international environment, its global monthly active users exceed 1.5 billion, making it not only the fifth largest social app in the world, but also overturn the landscape of online video social networking. In the US and UK, the average monthly usage time of the app has exceeded that of YouTube, affecting the entire mobile ecological landscape and stimulating the rise of a number of short-video platforms, such as India's MX TakaTak and Moj, both of which were ranked in the top 10 apps with breakthrough in downloads by Today, ByteDance has made TikTok a threat to YouTube, Snapchat and Instagram.

TikTok has leveraged some of the strategies that have proven successful in China. Previously, Douyin, the Chinese version of TikTok, gained traction by using "hashtag challenges," such as its partnership with Haidilao Hot Pot to call on users to create their own hot pot recipes. Such regular region-specific events proved to be a sustainable strategy for user growth. In the US, TikTok partnered with famous American host Jimmy Fallon's hit show to launch the "#TumbleweedChallenge", which brought TikTok great exposure.

In terms of market selection, the first phase of TikTok's globalization layout chose to be in Japan, South Korea and Southeast Asia. Zhang Yiming, the founder of ByteDance, believes that Japan is a market where overseas products are not accepted easily, so Japan can be a litmus test for globalization to some extent. If Japanese users can accept a product, then users in Southeast Asia and other Asian countries can also accept it.

In August 2017, TikTok landed in Japan and set up its first overseas office there. In just three months, TikTok reached the first place in the list of free apps in App Store in Japan, and then topped the same list in Thailand in January 2018. Subsequently, TikTok could be found in the top 10 most-downloaded apps in many Southeast Asian countries. Then, TikTok directly began to expand into the North American market, and gradually expanded from North America to other markets.

TikTok's success is also based on its understanding of local users. ByteDance has adopted a polycentric-oriented strategy when expanding to different markets at the same time. The reason is obvious: The algorithm-driven product model is applicable and standard, but video content is not, so ByteDance set up subsidiaries in different countries to make TikTok better localized and launched different versions of TikTok to users.

NewbornTown: Brand Marketing Based on Local Conditions

NewbornTown also made localized development as its competitive advantage. It has been on the road to globalization since 2013 and has built a mature and replicable system for globalized operations, enabling its products to land quickly in key markets and grow efficiently with localization. In the past year, the company has further rooted itself in regional markets and continued to deepen its localized operations.

To expand its brand presence in different countries and regions, and to make users not feel that they are using a foreign product, MICO, NewbornTown's live-streaming social app, is conducting brand marketing campaigns in different markets to suit local cultures and customs.

In the US, MICO provided a platform for local rap fans to show themselves, shooting music videos for contest winners; in Japan, MICO held joint events with local soccer clubs; in Thailand and Vietnam, MICO joined hands with famous local musicians to create theme songs and shoot music videos, which have created a wave of discussion in local social media; in the Middle East, MICO held industry media gatherings and creators' conferences, to promote a positive perception of the online social entertainment industry in the local community, and promote the development of the industry in the Middle East.

Today, MICO is the head live-streaming social product in the Middle East and Southeast Asia, and is rapidly expanding in North America, Japan and South Korea. Through a mature and replicable globalized operation system, NewbornTown's customer acquisition efficiency and operation efficiency have been continuously improved, and it has surged in the global social market.

Match Group: Acquisition After Acquisition

Match Group, a global dating giant, is the parent company of Tinder. After launching Tinder in 2012, Match Group has acquired a number of dating apps such as Meetic, Plenty of Fish and Hinge. In 2021, Match Group acquired Hyperconnect, a Korean social media company, for US$1.73 billion, which was Match Group's largest acquisition to date.

Hyperconnect's core product is Azar, which has grown to become the highest-grossing one-on-one video social app in the world. According to Match Group's CEO Shar Duby, 75% of Hyperconnect's revenue and users come from Asia, just to complete Match Group's regional strategic footprint.

In addition to complementing the markets, Match Group is also looking at its "live video" technology. Previously, Match Group's apps were still based on profile matching and swipe-matching, and this acquisition may be more of a complement of product type.

It can be said that Match Group is a dating company that grew up by self-operation and acquisition at the same time. Through self-development + acquisition along the way, Match Group is now a huge dating empire with dozens of dating products such as Tinder, Match, Hinge, Meetic, OkCupid, Pairs, Plenty Of Fish, OurTime, Azar, The League, and others.

Joyy Group: Cost Reducing and Efficiency Enhancement, Back to the Essence of Business

In the midst of the overall global economic downturn and the decline in users and revenue of online products, the audio and video social industry continues to grow. However, in 2022, the user growth rate of many audio and video social products declined, and one of the reasons for this phenomenon is that many companies cut costs and increased efficiency, greatly reducing their investment in marketing.

In this regard, several practitioners expressed the same view. Most of them believe that in 2022 many social companies reduced costs and increased efficiency, returning to the essence of business. The person in charge of an audio technology service provider said that since the last year, with the increasing cost of customer acquisition, many products have shifted from the pursuit of user growth to the pursuit of revenue generated by users, focusing more on cash flow.

Take BIGO, the global business of Joyy Group, as an example, in the second quarter of 2021, BIGO's revenue reached US$598 million, with total costs + expenses of US$570 million and adjusted net profit of US$19.44 million, an adjusted net margin of 3.3%. In the second quarter of 2022, BIGO's revenue reached US$503 million, with total costs + expenses of US$445 million. However, its adjusted net profit reached US$86.3 million, with an adjusted net margin of 17.2%. It is widely believed that cost reduction and efficiency enhancement is one of the reasons for the steady growth of BIGO's earnings.

To conclude, many social industry practitioners believe that the product format of "Sociality + X" and products focusing on a certain vertical group will have more opportunities for development, and it will be difficult to see the competitive pattern of one single player getting dominance.

We still believe that there will be a lot of globalized social products in the future, and we are all looking forward to the birth of the next "TikTok".

For further information, please contact:
Direct Line: +86-755-61619798 x8210

Copyright 2023 ACN Newswire. All rights reserved.

ESV5 Completes Merger with Ninjas in Pyjamas, Accelerated Globalization Process

HONG KONG, Jan 10, 2023 – (ACN Newswire) – ESV5 E-SPORT GROUP CO., a comprehensive digital sports group in China, is pleased to announce that the Group has completed the merger with the professional Swedish esports organization, "Ninjas in Pyjamas" (NIP), through an equity share swap. Following the merger, the combined entity is named NIP Group, Mario Ho, ESV5 Chairman, will become the chairman and co-CEO of NIP group, and Hicham Chahine, the CEO of NIP, will become co-CEO of NIP Group and continue as CEO of Ninjas in Pyjamas.

With the business plan of the merger, NIP Group will fully expand its overseas business and become a global comprehensive digital sports group covering the Chinese, European and South American markets. The merger is one of the largest cross-border mergers and acquisitions in the global esports industry to date. Furthermore, this means the long-awaited arrival of the Ninjas in Pyjamas brand to the League of Legends Pro League is close – the Group is thrilled to confirm that the former Victory Five squad will finally play as NIP from 2023 onward, and eStar Gaming will continue to operate independently.

As one of the largest and most influential esports groups in the world, NIP Group covers China, Europe, South America, and operates well-known esports brands including Ninjas in Pyjamas and eStar Gaming, with around 40 million followers on social media platforms worldwide. NIP Group now fields teams in a multitude of game titles on PC and mobile platforms, including League of Legends, Honor of Kings, Counter-Strike: Global Offensive, Rainbow Six:Siege and VALORANT etc. It has home courts in Wuhan and Shenzhen, as well as offices in Stockholm and Sao Paulo.

Specialized in the development of the esports industry, NIP Group focuses on building the digital sports industry chain and operates a diverse portfolio of brands, including MAG Studio, a top-tier events production company in China. Likewise, Shinobi Studio offers content production and esports team management services to Western sports clubs looking to enter the space. Another Group brand, eStar Entertainment, a leading esports talent agency in China, has signed over 10,000 content creators, covering mainstream Chinese live broadcast platforms such as Douyu, Huya, and Douyin.

One of the world's most legendary esports clubs, NIP was founded in June 2000 and now fields teams in CS:GO, Rainbow Six: Siege, VALORANT and FIFA. With north of 5 million followers, NIP is one of the most well-known and successful teams in the history of Counter-Strike (CS). Its legacy has earned the brand wide recognition in China along with a nickname: the "Faith Team".

"ESV5 and NIP have been in contact and discussions since 2020, and we are delighted about the union", Mario Ho said, "NIP has been an esports brand for over 20 years with very high-quality brand assets which helps us in our commitment to become a more popular and valuable global digital sports group. Both parties will fully realize the complementary advantages and resource sharing and fully open the international layout of NIP Group."

Hicham Chahine said, "We're incredibly excited to finally complete our merger establishing NIP Group. Our complementary strengths will help us reach a much wider esports and gaming audience on an unrivaled global scale. It all starts today, in the LPL and beyond". Hicham continues "I think we can now officially say that we are truly the first global esports organization."

About NIP Group:
NIP Group is a comprehensive digital sports group with esports clubs as its core business, supported by diversified ventures including esports events and esports talent development. NIP Group is one of the largest and most influential comprehensive digital sports groups in the world, operating in China, Europe, South America, and it manages well-known esports brands eStar Gaming and Ninjas in Pyjamas, with around 40 million followers on social media platforms worldwide. NIP Group has home courts in Wuhan and Shenzhen, as well as offices in Stockholm and Sao Paulo.

Press questions and further information contact:
NIP Group:
Investor relations:
Address: No.26 Gaoxin 2nd Rd, Donghugaoxin District, Wuhan, China

Copyright 2023 ACN Newswire. All rights reserved.

Kingsoft Announces 2022 Third Quarter Results

HONG KONG, Nov 15, 2022 – (ACN Newswire) – Kingsoft Corporation Limited ("Kingsoft" or the "Company"; HKEx stock code: 03888), a leading Chinese software and Internet service company, has announced its unaudited quarterly results for the three months ended 30 September 2022 ("period under review").

During the period under review, the revenue of Kingsoft increased 22% year-on-year and kept flat quarter-on-quarter to RMB1,837.1 million. Revenue from the office software and services, and the online games and others represented 55% and 45%, respectively, of total revenue. Gross profit increased 18% year-on-year to RMB1,466.2 million. Operating profit before share-based compensation costs increased 10% year-on-year to RMB395.3 million.

Mr. Jun LEI, Chairman of Kingsoft, commented, "The Group adheres to technological empowerment, with a focus on developing core products and technologies. During the quarter, our core businesses demonstrated strong resilience. Leveraging its accumulated experience and strengths in products and technologies development, Kingsoft Office Group continued to pursue the strategy of 'multi-screen, cloud, content, artificial intelligence ("AI") and collaboration' and improve its products and services solutions, aiming to increase user stickiness for cloud and collaboration office scenarios. Regarding our online games business, we have adhered to the strategy of premium games and focused on the long-term development of core games."

Mr. Tao ZOU, Chief Executive Officer of Kingsoft, added, "During the third quarter, our total revenue reached RMB1,837.1 million, up 22% year-on-year. Driven by the continued growth of individual and institutional subscription businesses, revenue from office software and services business reached RMB1,004.7 million, up 25% year-on-year.


Office Software and Services
For the third quarter of 2022, revenue from the office software and services business increased 25% year-on-year and 9% quarter-on-quarter to RMB1,004.7 million. The year-on-year increase was mainly due to the continued growth of Kingsoft Office Group's individual and institutional subscription businesses.

In the third quarter, with a growing individual user base, Kingsoft Office Group strived to increase user engagement and stickiness and the proportion of long-term paying users by enhancing cloud services, enriching product portfolio and improving user experience. Kingsoft Office Group has dedicated itself to improving application performance for the government and enterprise subscription business by working on user efficiency, data management, information security and industry application scenarios in order to cater to the need of users which has led to a growing penetration of the enterprise-level product, Kingsoft Digital Office Platform. As for the institutional licensing business, our products continued to gain acceptance by increasing demand for domestic office software from government and enterprises, partially offset the high base for the same period last year and slower localization progress this year. Recently, we launched the official document version of WPS for the government users. Developed upon the professional version of WPS, it offers industry-leading functions such as official document work mode, a variety of official document templates, and document conversion to optimize document work efficiency of government users.

Online Games and Others
Revenue from the online games and others business for the third quarter of 2022 increased 18% year-on-year to RMB832.4 million. The year-on-year increase was mainly due to the successful launch of several mobile games in the fourth quarter of 2021.

During the review period, we continued to refine the core IP, enrich the content and enhance product quality through technological innovation aiming to bring players a better gaming experience. We celebrated the 13th anniversary of the flagship JX Online III PC game in August and launched Heng Dao Duan Lang, the anniversary expansion pack and a new section Dao Zong for the JX Online III PC game in October. The third season of JX Online III: Chivalrous Shen Jianxin, an animation series based on the JX Online III was released on Bilibili in July and was welcomed by gamers. The rating of the animation series on Bilibili reached a record high and the influence of JX IP has been further enhanced. In August, we launched the open beta across all platforms and a new expansion pack for JX World III in China. The launch has further enhanced user engagement and reached a broader player base laying a solid foundation for our long-term development."

Mr. Jun LEI concluded, "Looking ahead, we will maintain our investment in R&D, further enhance the user experience for our 'cloud and collaboration' office services and expand new game genres. We will continue to focus on technology innovation and product upgrades and enhance competitiveness and efficiency, aiming for the long-term sustainable development of the Group."

About Kingsoft Corporation Limited
Kingsoft is a leading software and Internet services company based in China listed on the stock exchange of Hong Kong. It has three main subsidiaries including Kingsoft Office, Seasun and Kingsoft Shiyou. Following the implementation of its "mobile internet transformation" strategy, Kingsoft has completed the comprehensive transformation of its overall business and management models, and formed a strategic platform with office software and interactive entertainment as the pillars and cloud services and AI as the new directions. The Company has more than 7,000 staff around the world and enjoys a large market share in China. For more information, please visit

Kingsoft Investor Relations:
Francie Lu Tel: (86) 10 6292 7777 Email:

For further queries, please contact Hill+Knowlton Strategies Asia:
Ovina Zhu Tel: (852) 2894 6315 Email:

Copyright 2022 ACN Newswire. All rights reserved.

Society Pass (Nasdaq: SOPA) to Present at the Sigma Europe Gaming Festival on 14-18 November 2022

SINGAPORE, Nov 14, 2022 – (ACN Newswire) – Society Pass Incorporated (Nasdaq: SOPA) ("SoPa" or the "Company"), Southeast Asia's ("SEA") leading data-driven loyalty and e-commerce ecosystem, today announces that Company Founder, Chairman, and CEO Dennis Nguyen has been invited to present at the Sigma Europe Gaming Festival to be held on 14-18 November 2022. The in-person venue for the event is the Malta Fairs & Conventions Centre located at Millennium Stand, Level 1, The National Stadium, ATD 4000, Malta.

Mr. Nguyen will serve as one of the panelists for the "Entering One of the Fastest Growing Verticals: Fintechs" to be held on Day 3 of the Sigma Europe Gaming Festival at 1 pm on Thursday, 17 November. Fintechs, such as the Society Pass loyalty platform, have disrupted virtually every vertical in the financial, e-commerce and gaming industries, and there's a wealth of opportunity to capitalize on as stakeholders.

SiGMA is the world's leading hub for everything involving the iGaming industry from regulation, to financing, to marketing related to the sector. The Sigma Europe Gaming Festival brings together operators, providers, software developers, innovators, entrepreneurs and investors for three days of panels, discussions, keynote speeches, workshops and engaging networking events.

Event: Sigma Europe Gaming Festival
Date: 14-18 November 2022
Location: Malta Fairs & Conventions Centre located at Millennium Stand, Level 1, The National Stadium, ATD 4000, Malta.

About Society Pass Inc

Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Hanoi, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.

SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa's data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator;, Vietnam's leading lifestyle e-commerce platform;, a popular grocery delivery company in Philippines;, a leading online restaurant delivery service based in Vietnam; and, a leading local restaurant delivery service in Philippines.

For more information on Society Pass, please check out:
Website at or
LinkedIn at or
Facebook at or
Twitter at or
Instagram at

Cautionary Note Concerning Forward-Looking Statements

This press release may include "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company's filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus relating to the Company's initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contacts:
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Newborn Town releases its 2022 Interim Results; Breakthrough in core social networking business, accelerated diversified growth

HONG KONG, Aug 30, 2022 – (ACN Newswire) – On August 25, Newborn Town Inc. (9911.HK) released its 2022 interim results. For the half ended June 30, the Company's total revenue reached RMB 1,374 million, up 32.3% YoY; adjusted EBITDA reached RMB 210 million, up 19.5% YoY; profit attributable to the owner of the Company reached RMB 83 million, up 121.3% YoY.

The Company's successful model of social networking business continues to be replicated around the world. Its social networking revenue reached RMB 1,266 million, a growth of 52.4% YoY, indicating a steady breakthrough in the core business. At the same time, with the smooth progress of refined games, the Company's revenue from its innovative businesses totaled RMB 108 million, a rise of 91.7% compared to H2 2021, marking an accelerated diversified development.

– 'Replication in Products' + 'Replication in Markets' showing social networking products spread globally

Newborn Town has long focused on global open social networking, and has built an audio and video social networking product matrix, including MICO, an open social platform, YoHo, an audio-based social product, and Yumy, a video-matching social product. As of June 30, the Company's social products had accumulated 419 million downloads. Average MAUs (monthly active users) in the second quarter reached 23.09 million, representing an increase of 27% YoY.

With years of experience in exploring global markets as well as audio and video technology, Newborn Town has distilled a "replicable" model for its social networking business.

In terms of the products, the Company has accumulated successful experiences and applied those to new products, so as to promote fast growth and to expand their commercialization space. For instance, launched last year, Yumy has seen gross profit and become one of the top 10 best-selling social networking apps in 50 countries/regions after continuous optimization of its business model. It is a typical case of "Replication in Products".

In terms of markets, Newborn Town landed in new markets rapidly while consolidating its leading position in the markets where the Company has established a competitive edge. By now, YoHo, the product which started from the MENA region, has been successfully replicated in the market of pan-Southeast Asia. In the first half of the year, revenue from Non-MENA regions accounted for nearly 40% of YoHo's overall revenue, which proved significant to increase YoHo's revenue by more than 70% YoY.

Through 'Replication in Products' + 'Replication in Markets', Newborn Town found equal success in replicating its proven model of a single product to multiple products, and its success in a single market to multiple markets. The Company will keep developing mega-apps to cover global markets in more directions to realize strong and promising growth.

– Diversified growth accelerated as games show impressive monetization potential

In addition to the social networking business, the Company also made important breakthroughs in its innovative businesses that consists mainly of games in the first half of the year. The loss from the game business has narrowed significantly, which was one of the major reasons for the doubled profit attributable to the owner of the Company.

Specifically, products of the Company's Merge game series, "Mergeland – Animal Adventure" and "Mergeland – Alice's Adventure" were formally launched in April and June respectively. The series received rapidly increasing downloads and revenue after launch, and has become one of the top 10 best-sellers in the categories of puzzle and casual games in seven countries.

Bubble Shooter Star, another refined game by Newborn Town, also has good performance as indicated by the figures (e.g.: retention on the 30th day is above 15%) after it was launched at the beginning of this year. The game has shown great monetization potential as at present, its monthly revenue has reached the USD 1 million level.

In the second half of the year, further efforts will be made to promote the game experience, the user volume, and the monetization of the three games, so as to solidify the innovative businesses as a new point for growth.
What's more, the Company's Metaverse layout has been further enriched. In the first half of the year, it built partnerships with leading virtual technology companies to explore the creation of digital virtual characters, the construction of virtual scenes, the empowerment of AI virtual technology and other aspects. It also invested in Shi Mi Network, a smart wearable devices manufacturer, to take the "portal" of the Metaverse and accelerate the deep integration of the Company's social products with the Metaverse.

Big progresses of the innovative businesses have further accelerated the diversified growth of the Company, and the second growth curve is becoming clearer.

– Consolidated advantages and extended borders to keep high-quality development

The Company's commitment to R&D is a precondition for its performance breakthroughs. In the first half of the year, the Company's R&D expenses were RMB 91 million, up 69.6% YoY. As of June 30, the Company's R&D team expanded by 30.6% compared with December 31 2021. At the same time, through continuous cost optimization efforts, the Company's selling and marketing expenses in the first half totaled RMB 199 million, down 31.8% YoY.

On the other hand, the Company has persisted in localized operations to pursue Longtermism. It conducts in-depth operations and brand building efforts based on the understanding and respect of local cultures, and tries to integrate into the local industry and social development through industry media gathering and public welfare charities.

In the first half of the year, MICO released a theme song MV for Thailand, which was created and performed by a well-known local band. The song has been played for more than 90 million times due to its lively style catering to the local youth. It became a hit on local social media in a short time and aroused a boom of dance imitations that made the relaxed and cheerful style of the Company's social products rooted in the hearts of local users.

In the MENA market which the Company has deeply explored, Newborn Town, as a leading social networking company in the local market, held an industry media gathering of more than 20 local media. It helped the local market to establish a positive understanding about online social entertainment while promoting the development of the industry in the region.

With the continuous increase of R&D investment and the further promotion of localized operation, the Company's technology and operation middle platforms have become increasingly mature. Jointly, these strengths favored the Company in promoting the rapid upgrading of its social products in terms of user experience, market expansion and content distribution, and further accelerating the development of its social networking business.

In the future, Newborn Town will continue to enrich its product matrix, expand its market layout, optimize its operating efficiency, and explore diversified development opportunities to extend its boundaries. The Company will accelerate its progress towards the goal of "becoming the largest global open social networking platform".

For further information, please contact:
Direct Line: 0755-61619798+8210

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Inkeverse 2022 Interim Results Announcement

HONG KONG, Aug 29, 2022 – (ACN Newswire) – Inkeverse Group Limited ("Inkeverse" or the "Group"; stock code: 3700.HK) has announced its interim results for the six months ended 30 June 2022 (the "Reporting Period").

In the first half of 2022, the Group continued to intensify its expansion in the interactive entertainment and social networking sector while enriching its business scenarios to boost operational efficiency. Through its strategy of profiting from a diversified matrix, the Group realized total revenue of RMB4.0 billion. Supported by stable revenue, Excluding the impact of share-based non-cash compensation expenses and goodwill impairment losses, the Group recorded an adjusted net profit of RMB402 million, a year-on-year increase of 150.8%. The Group's gross profit increased by 22.8% to approximately RMB17.3 billion, and the gross profit margin also increased to 42.6% from 34.9% in the same period last year, primarily due to an increase in the proportion of revenue from products under revenue-sharing businesses with high gross profit and the optimization of the revenue-sharing structure.

In particular, revenue from social networking products accounted for 69.6% of total revenue. Revenue from live streaming products and dating products accounted for 22.2% and 5.5% of total revenue respectively. The encouraging performance of these products demonstrated the effectiveness of the Group's development strategies, which will help drive future growth.

Mr. Feng Yousheng, Chairman and Chief Executive Officer of the Group, said, "In the first half of 2022, although affected by the macroeconomic environment and short-term epidemic resurgence, we continued to refine our technologies through innovation and maintained stable and sound cash flow which provided strong support for further business expansion. Entering the new era of Web 3.0, we have drawn on our extensive operating experience and social network to continuously acquire new technologies. In June 2022, we upgraded our brand, changing its name to Inkeverse Group Limited, and announcing our entry into the metaverse market. We are poised to seize the new growth opportunities presented by the times and the industry, and strive to bring better returns to our shareholders."

Business Review

Continuous development in live streaming
Looking at the development of live streaming thus far, it is no longer a tool in a single scenario, but a strong pillar of support facilitating the growth of other business sectors. The new metaverse era has driven the development of virtual reality and other advanced technologies. As the Group's most mature product, "Inke" APP has innovated the traditional live streaming model with new technology. In May 2022, the Group launched "Panoramic Karaoke", an immersive KTV function which integrates a 3D space with virtual images, creating a variety of new live streaming scenarios and continuing to empower more business segments to realize higher business value.

Refined social networking operation
The Group continued to refine the management of its existing social networking products and polished its business model, and also actively explored more diversified scenarios to keep abreast of new market trends. With social networking at the core, the Group has built a diversified product portfolio with multiple scenarios for people of different social circles, ages, geographical backgrounds, and interests, laying a solid foundation for the Group's product development with the continuous launch of new and iterative products. In addition, the Group has been actively exploring the new ecology of metaverse social networking. Its diversified models have also helped improve the profitability of the social networking sector.

Increased dating match efficiency
The Group maintained its market acumen and developed an innovative matching and dating model. By continuously optimizing the user matching strategy, the rapid penetration of the "Cloud Matching" model has completely improved the issue of "unmatched dating information". The Group has established its position as a leader in the online dating industry with its professional and extensive product operations and user services. In addition to providing professional relationship guidance, "Matchmakers," has created tens of thousands of jobs in the markets of lower-tier cities and facilitated more than 25 million dating matches. In May 2022, the Group launched "Love Planet" for lovers to create a new ecology for romantic social networking. By reaching male and female users of different ages in different regions, the satisfaction and influence of our brand have been furthered enhanced.

Rapid growth of middle platform value
With the diversification of business development, the value of the Group's middle platform has grown at an accelerated pace. In addition to stepping up investment in the metaverse, Web 3.0 and other cutting edge technologies, the Group constructed an efficient and intelligent data input system for the overseas market, upgraded the overseas multi-cloud structure and applied HTTP 3 and other technologies to improve service access quality in major countries and regions around the world, providing strong support to the overseas business expansion and development of the metaverse ecology.

Looking ahead, the Group will focus on pan-entertainment development of overseas markets. With interactive entertainment and social networking sectors at the core, the Group will promote and replicate its operating experiences in different countries and regions, actively explore local demand and achieve breakthroughs in more markets around the world. At the same time, the Group will seize diversified development opportunities, continue to enrich and upgrade the metaverse elements in its products, quickly enter the emerging Web 3.0 sector and try to integrate frontier elements with social networking experiences to maintain profits and achieve quality growth. In addition, the Group will continue to closely monitor upstream and downstream industrial chains, take business synergies into consideration, explore business areas in line with its existing operations, expand and analyse new growth opportunities globally and create room for multi-dimensional development.

About Inkeverse Group Limited (stock code: 3700.HK)
Inkeverse (3700.HK) is a leading interactive social platform in China. In May 2015, the core product Inke APP was launched, creating the trend of domestic mobile live streaming broadcasting. Inke was listed in Hong Kong in July 2018, making it the first entertainment livestreaming enterprise on the Hong Kong Stock Exchange. Inke continues to deepen its efforts in the field of audio and video streaming. After its listing, Inke is focusing on the strategy of "matrix products" for the development layout of the Group. Based on the mature industrial mid-stage system, aiming at the needs of many vertical markets and individuals, it has successively created a number of phenomenon products such as the Jimu APP, Duiyuan APP and Super Like APP, and has rolled out a rich matrix of social products. Its business covers live broadcasting, dating and social networking. After undergoing multiple online and offline scenarios, and establishing a presence in overseas markets, it has transformed from a single product line into a matrix of products to drive performance growth. Reflecting this shift, in 2022, Inke changed its name to Inkeverse, aiming to create a multidimensional social matrix combining reality and virtual reality based on a new technology model.
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Press Contacts
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Vicky Lee Tel: (852) 2864 4834 E-mail:
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Asia’s First Hybrid Online to Offline Festival to Bring Sim Racers and Entertainers Rriley and Haneri to Scape

SINGAPORE, Aug 29, 2022 – (ACN Newswire) – The Legion of Racers, with support from the Singapore Tourism Board, will be organising the HyperDrive Cities (HDC) 2022 Festival from 23 to 25 September. To be held at Orchard Road, this will be Asia's first hybrid online to offline festival that combines live sim racing, entertainment, lifestyle and technology within an urban carnival setting.

The HDC will take place during this year's Grand Prix Season Singapore (GPSS) from 23 September to 2 October. GPSS is a collection of innovative race-themed lifestyle experiences that complements the Formula 1 Singapore Airlines Singapore Grand Prix 2022 excitement beyond the track.

For three days, the HDC will be held at *SCAPE in Orchard Road and will include feature a regional sim racing championship that follows the inaugural E-Cities Championship held in November 2021, along with an electric go-karting experience and a community sim racing challenge with prizes for the fastest sim racers from the public.

The HDC Championships 2022 boasts a prize pool of SGD10,000 with the top winner guaranteed at least SGD3500.

In addition, the festival at Orchard Road will also feature the HDC Gameplay Stations, a motorsports-themed gameplay powered by Augmented Reality where participants complete the various Gamemaster challenges to earn NFTs and rare prizes.

To cap off the event, an entertainment element will be added to the post-sim race event with Singaporean artistes RRILEY and Haneri, who will both perform a set of three songs each. In addition, DJ NashD, who is the official DJ for local artistes Shigga Shay and hip hop collective Grizzle Grind Crew, will raise the decibels on 23 September from 8pm to 10pm.

"This is a unique event comprising multiple elements for the community," said Lim Keong Wee, co-founder of the Legion of Racers.

"We wanted to create a motorsport festival for everyone, ranging from electric karting for young families to youths and millennials who could watch an entertainment segment at the end of the day that features some of Singapore's hottest music talents."

Added RRILEY, who made her debut in 2012 as a founding member of the Sam Willows, "It is just so nice to be performing again and I am so excited to bring my music to a new audience."

The event is supported by the Singapore Tourism Board, which oversees the Orchard Road precinct.

Ms Guo Teyi, Director, Retail and Dining, Singapore Tourism Board, said: "We welcome the inaugural HyperDrive Cities Festival to Singapore's famous shopping street. With its diverse mix of virtual and in-person experiences, the festival will add buzz to Orchard Road and strengthen its position as a lifestyle destination beyond retail. We invite visitors of all ages to join the festival and reimagine Orchard Road's offerings."

Among the partners confirmed for the festival include McLaren, TYCA, Next Level Racing, Logitech G, Monster Energy, and Tarmac Works. A McLaren 720S sportscar will also be on display at the venue during the course of the programme.

The simulated track which the sim racers will be racing on is the Orchard Road Street Circuit, which was produced by the Legion of Racers team. For 2022, the track has been extended to include the Somerset and Dhoby Ghaut sub-precincts.

The HDC 2022 Festival is set to bring more than 5,000 members of the public to *SCAPE while thousands more will follow the HyperDrive Cities Championships live on Youtube.

All photo and visual assets can be downloaded here.

Media Contact:
Melvin Moh

About HyperDrive Cities Festival 2022

HyperDrive Cities is the first of its kind to bring sim racing into familiar streets, turning cities into race circuits and unlocking the once-in-a-lifetime experience of racing virtually down urban spaces. The HDC Festival will also feature entertainment acts and RaceHub which allows members of the public to experience driving an electric kart. To find out more please visit

About Legion of Racers

The Legion of Racers is Singapore's first sim racing entertainment and lifestyle brand which combines the best in motorsports and the gaming world. With a studio in Kallang, the Legion of Racers taps into the world of sim racing and brings together online gamers who play in games such as Assetto Corsa, Assetto Corsa Competizione, Gran Turismo 7, Formula 1, and RFactor2. Follow Legion of Racers on their Facebook @LegionofRacers and on their website at for updates and information about sim racing activities.

About the Singapore Tourism Board

The Singapore Tourism Board (STB) is the lead development agency for tourism, one of Singapore's key economic sectors. Together with industry partners and the community, we shape a dynamic Singapore tourism landscape. We bring the Passion Made Possible brand to life by differentiating Singapore as a vibrant destination that inspires people to share and deepen their passions.

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FMC 2022 “Video Game Scoring Competition” offers an exclusive opportunity for composers from around the world

London, UK, Aug 25, 2022 – (ACN Newswire) – Every year, FMC-Film Music Contest – the unique international music competition and awards – provides a competitive platform for composers, musicians, producers, and sound designers of original scores for film, television, commercials and video games.

FMC includes the "FMC Video Game Scoring Competition", a separate category for music composers and sound designers of all ages and nationalities that is unique in the world of music competitions.

"After the great response in last year's competition and many requests to continue this category, we have decided to cater to all artists and fans. We are thrilled to launch the 'Game Scoring' category again this year, in collaboration with a videogame production and publishing company Grindstone. Many people don't have the opportunity to test their skills on this type of project and expand their portfolio to showcase their work for new, larger projects. This category introduces material that is visually very interesting and will provide plenty of inspiration for all entrants. I am sure they will immerse themselves in the exciting creative process again this year, have a lot of fun and take a break from their day-to-day work. The resulting original music will be unique works of art," said Vlado Zeleznak Jr., director of the FMC-Film Music Contest.

What does FMC 2022 have in store for music creators in the video game category this year?

They will be asked to write a score for a short intro opening sequence for the upcoming all-new video game "Die by the Blade", set for its world premiere and release this autumn.

In this year's contest, we are offering prizes valued at more than EUR38,000.

Every year, the competition rewards its winners generously. This year, they will receive prizes valued at more than EUR38,000 and gain international media attention and publicity. On top of that, winners will be awarded original hand-crafted trophies and certificates as keepsakes for the triumph and recognition of their musical work.

All prizes can be viewed here: /

Expand your portfolio and share it globally online

From a professional angle, another incentive to enter is the opportunity to expand and enrich your music portfolio with a video game project you can present and share to the world along with your music. You can use the finished project to promote yourself and reach new fans and followers with your music.

You can watch short competition sequence together with registration video guide on the official YouTube channel here:

The competition enjoys much interest from international media keen to report on the competition and its latest developments. To see some examples, visit the Press section of the competition website here:

Answers to many of your questions you will find here: FAQ – (Frequently Asked Questions):

Competition registration is currently open on the official competition website at The deadline to submit your entries is 12 September.

Follow FMC-Film Music Contest on Social Media:
#fmcfilmmusiccontest #fmcontest

Media Contact:
Mgr. Vlado Zeleznak JR.
Director FMC-Film Music Contest, PRESS FMC

Copyright 2022 ACN Newswire. All rights reserved.