HANGZHOU, China, April 29,
2024 /PRNewswire/ -- Cloud Music Inc. (HKEX: 9899,
"NetEase Cloud Music" or the "Company"), a leading interactive
music streaming service provider in China, today announced
that it has entered into a licensing agreement for digital music
distribution ("the Agreement") with JYP ENTERTAINMENT Corp. ("JYP
Entertainment"), a leading entertainment company in South Korea, granting NetEase Cloud Music the
right to distribute JYP Entertainment's music catalog in
China.
Under the terms of the Agreement, the two companies will
leverage their musical prowess to jointly promote the presence of
fan-favorite K-Pop artists from JYP Entertainment's catalog
and bring more high-quality music to Chinese music
lovers. This partnership expands the range of K-Pop music
available on NetEase Cloud Music even further. Both parties will
collaborate closely, utilizing their strengths to enhance the user
experience and explore new commercialization opportunities
originating from top-tier K-Pop music content.
Through the collaboration, NetEase Cloud Music will offer an
extensive collection of music from JYP Entertainment, featuring
renowned artists and groups such as J.Y. Park, TWICE, Stray Kids,
BOY STORY, ITZY, Yao Chen, NMIXX,
and more. This includes their entire discography, including TWICE's
latest album "WithYOU-th," NMIXX's "Love Me Like This," ITZY's
"CAKE," as well as hit songs like "Nobody," "Bad Girl Good Girl,"
and "Stop Stop It." Additionally, NetEase Cloud Music has
introduced a range of JYP-themed Vinyl VIP decorations to cater to
the personalized preferences of young users and enhance the music
experience for K-Pop enthusiasts.
JYP Entertainment, founded by Asia's best producer, J.Y. Park, in 1997, is a
comprehensive cultural and entertainment enterprise and also one of
the most influential entertainment companies in South Korea. JYP Entertainment was established
to promote the development of the entertainment industry and drive
globalization. It is committed to discovering and nurturing
creative, proactive talents that can lead the industry. JYP
Entertainment, known in the history of K-Pop for launching nearly a
hundred popular artists, including singers, idol groups, actors,
and more, offers high-quality works, such as albums and concerts,
to a global audience of young users. Apart from its headquarters in
South Korea, the company has
branches in China, the United States, and Japan. It has been expanding K-Pop's influence
by actively communicating with the global music industry.
As one of China's leading
online music platforms, NetEase Cloud Music hosted 206 million
monthly active users and over 44 million monthly paying users for
its online music services in 2023. The platform has been gaining
presence, particularly among the younger generation of
music enthusiasts. The unique music community atmosphere, highly
interactive user base, and user stickiness of NetEase Cloud Music
further demonstrate the platform's capability to amplify the
influence of JYP Entertainment's music among the younger generation
while enhancing the interaction between K-Pop artists and their fan
base in China. Additionally, on NetEase Cloud Music, the
proportion of music streams stemming from the platform's
recommendations continued to grow, aided by more insights into
users' preferences and advanced AI algorithms. This further
amplifies its advantage in personalized music recommendations,
changing traditional listening habits, which bodes well for JYP
Entertainment to efficiently distribute content and engage with
music lovers in China.
NetEase Cloud Music has continuously stenghthed its
collaboration with Korean music companies to obtain copyright
licenses. Previously, NetEase Cloud Music has joined hands with top
South Korean entertainment companies like SM Entertainment, YG
Entertainment and CUBE Entertainment, enabling users to access
high-quality K-Pop music. In collaboration with JYP Entertainment,
NetEase Cloud Music is expanding its K-Pop library even more,
demonstrating the platform's ongoing efforts to promote Korean
music content to cater to a large group of Chinese fans.
By the end of 2023, NetEase Cloud Music had approximately 149
million cumulative music tracks, securing a wide range of copyright
content and enhancing its content ecosystem. In addition to the
above-mentioned Korean labels, the platform has recently expanded
its collaborations to include globally renowned music labels such
as Universal Music, Sony Music, Warner Music, Rolling Stones
Records, Modern Sky, Emperor Entertainment, and Bin's Music etc.
Moving forward, NetEase Cloud Music will continue to collaborate
with global music companies, offering Chinese music enthusiasts a
wider range of high-quality music content and an improved user
experience.
About Cloud Music Inc.
Launched in 2013 by NetEase, Inc. (NASDAQ: NTES; HKEX: 9999),
Cloud Music Inc. (HKEX: 9899) is a well-known online music platform
featuring a vibrant content community. Dedicated to providing an
elevated user experience, Cloud Music Inc. provides precise,
personalised recommendations, promotes user interaction and creates
a strong social community. Its focus on discovering and promoting
emerging musicians has made Cloud Music Inc. a destination of
choice for exploring new and independent music among music
enthusiasts in China. The platform
has been recognised as the most popular entertainment app among
China's vibrant Generation Z
community.
Please see http://ir.music.163.com/ for more
information.
Forward Looking Statements
This press release contains forward-looking statements relating
to the business outlook, estimates of financial performance,
forecast business plans and growth strategies of the Company. These
forward-looking statements are based on information currently
available to the Company and are stated herein on the basis of the
outlook at the time of this press release. They are based on
certain expectations, assumptions and premises, some of which are
subjective or beyond our control. These forward-looking statements
may prove to be incorrect and may not be realised in the future.
Underlying these forward-looking statements are a lot of risks and
uncertainties. In light of the risks and uncertainties, the
inclusion of forward-looking statements in this press release
should not be regarded as representations by the Board or the
Company that the plans and objectives will be achieved, and
investors should not place undue reliance on such statements.
Investor Enquiries:
Angela
Xu
Cloud Music Inc.
music.ir@service.netease.com
Media Enquiries:
Michelle
Chan
hzchenjiayi01@corp.netease.com
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SOURCE NetEase Cloud Music