Songcheng Performing Arts bolsters it O2O with investment in tech firm Send Info
Songcheng Performing Arts has signed an agreement to invest RMB139 million for a 20% stake in smart attractions technology company Send Info.
Theater and theme park group Songcheng Performing Arts has signed an agreement to invest RMB139 million for a 20% stake in Zhejiang-based smart attractions technology company Send Info. The investment came after Songcheng acquired the full ownership of online performing arts platform 6 Rooms.
China’s top smart tourism platform Send Info
Send Info, established in 1996, is competitive and leading comprehensive technology company that operates smart systems for managing tourism and attractions. It offers services in RD, marketing and implementation of comprehensive smart management systems for attractions as well as a smart tourism public service platform Zhiyoubao. It also invests in a smart tourism O2O platform and operates control systems for China’s metro and BRT (rapid city bus) public transport systems.
Send Intelligent's Zhiyoubao platform
Send Info has over 700 users of its smart tourism and smart attractions comprehensive management systems, including nearly 100 national 5A grade attractions and over 100 large-scale theme parks.
Its Zhiyoubao travel e-commerce platform is listing up to 1,800 attractions, including over 100 national 5A grade attractions and 1,200 4A grade sites. The company expects turnover of RMB3-5 billion and a visitor volume of 50-60 million for this year and multi-billion RMB turnover for 2016.
Launching wholescale O2O tourism distribution
Songcheng is not only China’s top preforming arts company but is also the second largest Chinese tourism company with a chain of original theme parks built in China’s major cities. However, Songcheng has so far dedicated its resources into the vertical links of show tourism, and has not yet explored the vast potential of other leisure travel segments.
Songcheng has built up a national offline service network for show tourism and has acquired online performing arts platforms over the past five years in preparation for its long-term plans to create a vibrant ecosystem. Its acquisition of Send Info has drawn the attention of capital managers in China’s cultural industry who will be eager to invest along with Songcheng in future projects.
Songcheng to leverage O2O tourism to develop its ecosystem
Songcheng’s online and offline presence in recreation tourism will bring the company a new avenue of growth, and when the traffic flow of its OTO platforms grow to a certain scale, it can ensure cash flow to support the mutual promotion of online amusement sites and performing arts.(Translation by David)