Companies Initially Targeting 200,000 Schools Across China
BEIJING, Jan. 30, 2023 /PRNewswire/ -- Kuke Music Holding Limited ("Kuke" or the "Company") (NYSE: KUKE), a leading classical music service platform in China with approximately 3 million audio and video music tracks, announced the launch of an advanced digital music teaching system in collaboration with People's Music Publishing House. The highly innovative Music Museum is a comprehensive digital music teaching system, including licensed Chinese music and classical music learning content. The product will be sold through offline channels starting in March 2023 and initially targeting 200,000 schools in China.
People's Music Publishing House is one of the China's largest and most influential professional music publishing companies with a leadership of the share of the Chinese music textbook market (approximately 80% market share in the middle school and 60% in the primary school). Kuke Music is the only comprehensive music group in China focusing on classical music licensing, subscription and learning services. Music Museum's main interface includes six dedicated modules: classroom teaching, music knowledge, teaching material, music test, knowledge expansion and masterclass. The new teaching program integrates digital versions of textbooks for middle and primary school, as well as thousands of extended music knowledge aides, more than 3,000 progressive curriculum tests, licensed audio and video materials, and many other features and functionality. The two companies jointly developed the exciting new, easy to use Music Museum system for middle and primary school music teaching.
Mr. He Yu, Chief Executive Officer of Kuke Music Holding Limited, commented, "We are excited to be launching a powerful platform to help teach music to the next generations. On the one hand, as the pioneer of acquiring classical music copyrights worldwide, our core assets are quite exclusive in China and we are also proud to empower the music teaching capabilities for schools across China by licensing out our copyrighted classical music content. On the other hand, by developing an effective, digital platform we will help teachers to teach students in the digital arena they are most comfortable. We expect this to help students learn more and faster, while also encouraging more youth to take up the arts by removing frustrations associated with paper-based teaching materials and non-copyrighted music contents. The world is moving faster than it has ever before with everyone glued to mobile devices and short form video. By adopting exciting copyrighted music content and new technological advances into our robust Music Museum program, we believe we are well on the way toward setting a new standard of excellence in music teaching in the classroom."
About Kuke Music Holding Limited (NYSE: KUKE)
Kuke is a leading classical music service platform in China encompassing the entire value chain from content provision to music learning services, with approximately 3 million audio and video music tracks. By collaborating with its strategic global business partner Naxos, the largest independent classical music content provider in the world, the foundation of Kuke's extensive classical music content library is its unparalleled access to more than 900 top-tier labels and record companies. Leveraging its market leadership in international copyrighted classical music content, Kuke provides highly scalable classical music licensing services to various online music platforms, and classical music subscription services to over 800 universities, libraries and other institutions across China. In addition, it has hosted Beijing Music Festival ("BMF"), the most renowned music festival in China, for 24 consecutive years. Through KUKEY, the Company's proprietary smart music learning solutions, Kuke aims to democratize music learning via technological innovation, bring fascinating music content and professional music techniques to more students, and continuously improve the efficiency and penetration of music learning in China. For more information about Kuke, please visit https://ir.kuke.com/
Forward-looking Statements
This announcement contains forward looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "confident," "potential," "continue" or other similar expressions. Statements that are not historical facts, including but not limited to statements about Kuke's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including those in Kuke's registration statement filed with the Securities and Exchange Commission. Further information regarding these and other risks is included in Kuke's filings with the SEC. All information provided in this press release is as of the date of this press release, and Kuke undertakes no obligation to update any forward-looking statement, except as required under applicable law.
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