HANGZHOU, China, July 21,
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 YG Entertainment Inc. ("YG
Entertainment"), a leading entertainment company in South Korea, granting NetEase Cloud Music the
right to distribute YG Entertainment's music catalog in
China.
Under the terms of the Agreement, both parties will engage in
innovative approaches to unlock more opportunities for YG
Entertainment's vast and influential catalog as well as its artists
on the platform, including music by popular K-Pop groups such as
BIGBANG and BLACKPINK, and utilize their strengths to expand the
music library on NetEase Cloud Music platform to provide more
high-quality music content for Chinese music lovers.
Founded in 1996, YG Entertainment is one of the largest
entertainment management companies in South Korea. It has been at the forefront of
the popularization of hip-hop music. It is also the entertainment
company with the most hip-hop singers in South Korea. World-renowned artists on its
roster include BIGBANG, BLACKPINK, SECHSKIES, AKMU, WINNER, iKON
and TREASURE.
As one of China's leading
online music platforms, NetEase Cloud Music has been gaining
presence among the younger generation. The unique
music community atmosphere, highly interactive user base and strong
user stickiness of NetEase Cloud Music further demonstrate the
platform's capability in efficiently promoting music content while
enhancing the interaction between artists and their fan base in
China.
NetEase Cloud Music has been actively expanding its broad
portfolio and once again is joining hands with a top South Korean
entertainment company to continually supplement the platform's
high-quality content to cater to users' diverse music tastes
spanning multiple genres. Recently, NetEase Cloud Music has reached
music copyright cooperation with a number of top record labels,
including Modern Sky, Emperor Entertainment Group, China Record
Group, Feng Hua Qiu Shi, Yuehua
Entertainment, Linfair Records, SM Entertainment and TF
Entertainment. In the future, NetEase Cloud Music will keep on
promoting its collaborations 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