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Grand Vision Media Holdings plc - Statement re Strategic Partner in Japan
London, February 11
London 11th February 2019
Grand Vision Media Holdings Plc
(“GVMH” or the Company”)
Announces New Strategic Partner in Japan
Grand Vision Media Holdings Plc (GVMH) is pleased to announce that it has signed a partnership agreement with Rakuten Bank KK (Rakuten) in Japan. Rakuten is one of the leading internet banking products and service provider in Japan. Through this agreement, Rakuten will actively promote GVMH’s marketing services to its retail and hospitality customers seeking to capture a bigger share of the Chinese tourist spending. Together with the WechatPay services offered by Rakuten, GVMH can offer an integrated marketing and payment solution to Japanese clients.
The services will initially cover the following:
Assisting overseas brands establish or enhance their Social Media presence in China
Using GVMH’s OOH capabilities to broadcast 3D videos of travel destinations and organize off-line marketing events in cinemas in China to promote Japanese products and services.
According to the Japan National Tourism Organisation, Chinese visitors were the largest visitor group in 2018, with 8.4 million visitors, an increase of 13.9% over 20171, 2.
Jonathan Lo, CEO, said “Tourism marketing will be one of our key revenue drivers and core competencies as Chinese tourists now make up 21% of the total tourism spending worldwide3. With Rakuten Bank as our partner, we are well placed to increase our reach to potential advertisers in Japan, the top destination for Chinese tourists. We have already started providing our service to our first Japanese client, Narita Airport.
Our agreement with Rakuten Bank follows on from the recent agreement which we signed with the CY Group in Korea. We shall continue to develop partnerships in the other travel destinations frequented by Chinese travellers. ”
1 Japan National Tourism Organisation – Breakdown of Country/Area
2 Nikkei Asian Review, September 29 2018
3 Hospitality Net, 16 May 2018
For further information, photos and enquiries please contact:
|Grand Vision Media Holdings plc||
Jonathan Lo / Ajay Rajpal
|Tel: +44 (0) 20 7866 2145|
|Alfred Henry Corporate Finance Ltd||
Nick Michaels / Jon Isaacs
|Tel: +44 (0) 20 3772 0021|
|Alexander David Securities Ltd||
|Tel: +44 (0) 20 7448 9820|
Siu Fun Hui
|Tel: +44 (0) 7730 051867|
Notes to Editors
Grand Vision Media Group is an integrated out-door digital media company deploying innovative display and marketing technologies at strategic, high-traffic locations. Its glasses-free 3D technology in digital out-of-home (OOH) media is enabling advertisers to engage with affluent consumers in important and growing markets such as China and elsewhere around the world.
The company deploys glasses-free 3D technology in cinemas to take advantage of the growth in audiences in China in terms of box office, number of cinemas and number of viewers. In addition to traditional advertising revenue, we set out to monetise the benefits generated by user interaction with 3D panels by targeted social media advertising and, also by profit sharing from transactions.
In June 2018 the Company listed on The London Stock Exchange helping it to attract further investment to build out our business within China itself; the company's current footprint in China represents less than 5% of the market there.
The digital signage market globally is expected to reach almost $30bn by 2024, compared to approximately $15bn in 2015. We believe that this growth will be driven not only by new, higher resolution displays and new types of technology, but also by integrating digital displays with customers' smart phones.
Company web site: www.gvmh.co.uk
Rakuten Bank, Ltd. provides Internet banking products and services in Japan. It offers electronic financial settlement services.
Rakuten Bank, Ltd. was formerly known as eBANK Corporation and changed its name to Rakuten Bank, Ltd. in May 2010. The company was founded in 2000 and is based in Tokyo, Japan. It has operations in Grand Cayman, the British West Indies. As of February, 2009 Rakuten Bank, Ltd. operates as a subsidiary of Rakuten, Inc.
Company web site: https://global.rakuten.com/corp/about/