Joy Spreader Group Inc. (HKG:6988, “the Group”, “Joy Spreader”), a leading marketing technology company, achieved HK$647 million (approx. US$82.8 million) in gross merchandise value (GMV) of products from multiple e-commerce retailers sold via short-form video (SFV) platforms for the first half of 2021, representing a YoY rise of 264.08 per cent.
As of June 30, 2021, the number of covered marketing points included in the Group’s marketing ecosystem had reached 1,561,601, up 208.65 per cent from 505,945 a year prior. The merchants had presences on several of China’s new online platforms including Douyin, WeChat Official Accounts and WeChat Video Channels.
In China, the platform-driven economy has been challenged a ferocious and unprecedented new level of competition. Earlier this year, China’s State Administration for Market Regulation issued an Administrative Guidance, highlighting the need for internet-based platforms to further share their resources, including data, payment channels and applications, also to fully respect shoppers’ choices, and promote cross-platform interconnection and interoperability while being prohibited from rejecting transactions without suitable justification. In the long run, it will become necessary for the platforms to strengthen business integration and break down the artificial barriers in order to collectively create an open and transparent digital environment.
Given this inevitable trend, internet-based platforms will, in their roles as third-party service providers, become venues for new business opportunities as they enter into cross-platform collaborations, aiming to create an open ecosystem to replace the current closed one. This will open up unprecedented opportunities to providers of cross-platform ecosystem services like Joy Spreader.
Joy Spreader serves a variety of new mobile online platforms with its cutting-edge competence in marketing technologies and platform-oriented professional services. The Group has facilitated the sales of various interactive entertainment products on several new media platforms, using methodologies that go beyond the traditional mode for the marketing of products via e-commerce retailers. During the first half of 2021, Joy Spreader posted HK$1.769 billion (approx. US$226.4 million) in sales of interactive entertainment products, up 123.38 per cent on a year-on-year basis.
With the emergence of the trend towards cross-platform business integration, Joy Spreader plans to enhance capabilities in providing services across platforms by helping them build the necessary ecosystem.