Cheer Holding Inc
ir.gsmg.coWhat Do They Do?
Sells advertising and produced video and television content, and runs a content-driven e-commerce platform for advertisers, viewers and shoppers in China.
20-F for FY2025, filed Mar 20, 2026We provide advertisement and content production services and operate a leading mobile and online advertising, media and entertainment…View ↗
How Do They Make Money?
Advertisers, directly or through agencies, buy ad displays and promotions in the company’s shows and streaming content; ad revenue builds as ads run during the agreed service period. Copyright licensing also earns revenue as episodes are delivered, or when valid later views occur for co-produced series.
20-F for FY2025, filed Mar 20, 2026The Company self produces or coproduces TV series featuring lifestyle, culture and fashion, and licenses the copyright of the TV series on…View ↗
The Company also coproduces TV series with other producers and licenses the copyright to third-party video broadcast platforms for…View ↗
The Company generates revenue from sales of various forms of advertising on its TV series and streaming content by way of 1) advertisement…View ↗
For the contracts that involve the third-party advertising agencies, the Company is principal as the Company is responsible for fulfilling…View ↗
For contracts signed directly with the advertisers, the Company commits to display a series of advertisements which are substantially the…View ↗
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20-F for FY2025, filed Mar 20, 2026
FY2025 revenue by product or service (Revenue from Contract with Customer) ↗
$148.8M
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20-F for FY2025, filed Mar 20, 2026
$148.8M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Advertising revenue
Recurring
20-F for FY2025, filed Mar 20, 2026 |
98%
FY2022: 97%
|
Advertising revenue, FY2025
$146.1M Sources
|
Recurring |
|
Copyrights revenue
Licensed
|
1.8%
FY2022: 2.7%
|
Copyrights revenue, FY2025
$2.6M Sources
|
Licensed |
|
CHEERS e-Mall marketplace service revenue
|
<0.1%
FY2022: 0.2%
|
CHEERS e-Mall marketplace service revenue, FY2025
$51K Sources
|
|
|
Other revenue
|
<0.1%
FY2022: 0.3%
|
Other revenue, FY2025
$51K Sources
|
Who Are Their Customers?
Advertisers contract directly or through third-party advertising agencies; customers are located primarily in China.
20-F for FY2025, filed Mar 20, 2026
20-F for FY2025, filed Mar 20, 2026
The Company’s sales are made to customers that are located primarily in China. The Company has a concentration of its revenues and…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 17 cents of every revenue dollar as net income in FY2025.
20-F for FY2025, filed Mar 20, 2026
How Are They Changing?
Flat. Revenue was $148.8M in FY2025, about the same as the $153M of FY2021.
Who Do They Compete With?
Competes with Alibaba, Pin Duoduo, Douyu, Mango Media, and Zhong Guang Tianze
20-F for FY2025, filed Mar 20, 2026Our competitors include Alibaba (Nasdaq: BABA), Pin Duoduo (Nasdaq: PDD), Douyu (Nasdaq: DOYU), Mango Media (SZ.300413), and Zhong Guang…View ↗
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