HANGZHOU, China, April 30, 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.
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.
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 and highly interactive user base 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.
NetEase Cloud Music has continuously strengthened 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.
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.
Investor Enquiries:
Angela Xu
Cloud Music Inc.
music.ir@service.netease.com
