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ABU DHABI - NIP Group Inc. (NASDAQ: NIPG) has expanded its entertainment business by forming a new joint venture, NIP Culture & Entertainment (Beijing) Co., Ltd., to develop its live entertainment presence in China, according to a press release statement.
The venture’s first event, the 2025 Qianfan Music Season - Wonderland Music Festival, was held in Beijing from May 31 through June 1, attracting over 70,000 attendees. The company described it as one of the largest single-site outdoor music festivals ever hosted in the city. This expansion comes as NIP Group faces challenging financial metrics, with InvestingPro analysis showing the company operating with modest debt levels but experiencing weak gross profit margins of just 3.5%.
The two-day festival featured performances from 19 musicians alongside appearances by esports teams eStar Pro and Beijing WB. The event also included curated food options, creative markets, and experiences showcasing Beijing attractions.
Mario Ho, Chairman and Co-CEO of NIP Group, said the new venture will "bring these immersive festival experiences to fans in major cities across China" while expanding the company’s entertainment intellectual property and diversifying revenue streams.
Yuan Gao, CEO of NIP Culture & Entertainment, stated the music festival business aims to create "an integrated cultural space where music, gaming and creative expression converge."
The company cited data from the China Association of Performing Arts indicating China’s live-entertainment market reached RMB 79.6 billion (US$11.0 billion) in 2024, with audiences under 30 accounting for nearly 75% of large-scale festival attendance.
NIP Group plans additional music festivals in key Chinese cities throughout 2025. The company operates globally across Europe, the Middle East, Asia and the Americas in gaming and esports.
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