HANGZHOU, China, June 10,
2022 /PRNewswire/ -- Cloud Village 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 SM Entertainment Co., Ltd. ("SM
Entertainment"), a leading entertainment group in South Korea, granting NetEase Cloud Music the
right to distribute SM Entertainment's music catalog.
Under terms of the Agreement, the two companies will work
collectively to carry out in-depth cooperation and jointly promote
Korean music and artists and bring more high-quality music content
to music lovers and artists alike. SM Entertainment's robust
portfolio boasts hundreds of influential K-Pop artists,
including KANGTA, BoA, TVXQ!, SUPER JUNIOR, Girls' Generation,
SHINee, EXO, Red Velvet, NCT and aespa.
Established in 1995, SM Entertainment is a pioneer in
South Korea's entertainment
industry and leads the K-Pop trend around the world with
a strong global presence in overseas markets such as
North America and Europe.
As one of China's leading
online music platforms, NetEase Cloud Music has gained popularity
among Chinese music fans, especially among the younger generation
base. The unique music community atmosphere, highly interactive
user base and strong user stickiness of NetEase Cloud Music bodes
well for SM Entertainment's content distribution, and ability to
efficiently and effectively reach the younger generation in
China.
NetEase Cloud Music has been actively expanding its broad
portfolio, and has recently reached music copyright cooperation
with a number of top record labels including Modern Sky, Emperor
Entertainment Group and China Record Group. In the future, NetEase
Cloud Music will continue to promote cooperations with upstream
copyright owners, and continue to provide more high-quality music
content for Chinese music enthusiasts.
About Cloud Village Inc.
Launched in 2013 by NetEase, Inc. (NASDAQ: NTES; HKEX: 9999),
Cloud Village Inc. (HKEX: 9899) is a leading interactive music
streaming service provider in China. Dedicated to providing an elevated user
experience, Cloud Village 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 Village 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 Village Inc.
music.ir@service.netease.com
Media Enquiries:
Li Ruohan
NetEase, Inc.
globalpr@service.netease.com
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SOURCE NetEase Cloud Music