Business
New contract win for New Sky Global Media
New contract win for New Sky Global Media.
About this update from Sealand Capital Galaxy Ltd.
[{"type":"text","content":"\n \nRNS Number : 4794Z Sealand Capital Galaxy Limited 20 May 2019 \n\nStrictly embargoed until: 07.00, 20 May 2019\n \nSealand Capital Galaxy Limited\n(\"Sealand\", or the \"Company\")\n \nNew contract win for New Sky Global Media\n(\"New Sky Global\")\n \nSealand Capital Galaxy Limited (LSE: SCGL) is pleased to announce that its 55%-owned subsidiary, New Sky Global, a Hong Kong-incorporated digital marketing and advertising firm, has signed a contract (\"the contract\") with Tenet, a Multi-Channel Network (MCN) provider, a subsidiary of GD.QQ.COM and Suncity Group Leisure Services Limited.\n \nThe contract is expected to earn revenues of RMB 4,500,000 (approximately £510,300) for New Sky Global with 60% receivable in this financial year and the remainder to be paid six months after management of the account begins, and on the condition that Suncity's follower count reaches a set target.\n \nUnder the terms of the contract, New Sky Global will manage Suncity's TikTok account (initially launched as Douyin in China). TikTok is a leading short video platform with 500 million active users in Asia and around the world. New Sky Global will handle basic setup, video content planning, management, filming, production and other value-added services for Suncity such as redirecting their TikTok followers to their WeChat account. \n \nThe TikTok account will be used for brand building and to increase member signup to the 'Sun Supreme Club'. New Sky Global will manage the TikTok account for an initial eight months, starting in June 2019 and will also produce 64 short videos during this time. \n \nTenet creates short video productions and offers other promotional services and New Sky Global will work with them to deliver the best possible campaign for Suncity. \n \nNew Sky Global is also in discussions with other parties regarding further marketing projects, including the Hoiana Resort, De Nang Catheral, Vietnam. The resort is expected to open in the second half of 2019 and New Sky Global hopes to be awarded the marketing contract, bringing additional revenues to Sealand in this financial year.\n \nNelson Law, Executive Chairman of Sealand, commented:\n \n\"We are delighted that our recent acquisition, New Sky Global, has entered into a contract with Suncity...