HANGZHOU, China-- NetEase Cloud Music, one of China's leading music streaming platforms owned by leading Chinese internet company NetEase, Inc. (NASDAQ: NTES), today announced that it has entered into a strategic partnership with CUBE Entertainment, one of the largest entertainment companies in South Korea. Under the partnership agreement, NetEase Cloud Music has been granted access to CUBE Entertainment's complete music catalog, including sought-after albums and tracks from popular performers such as BTOB, CLC, PENTAGON, Yoo Seon-Ho and (G)I-DLE, according to PRNewswire on Jan. 2.
The strategic alliance with CUBE Entertainment further expands NetEase Cloud Music's Korean music library, in an effort to promote Korean music in China. NetEase Cloud Music has already partnered with several prominent industry leaders and major Korean music award events to increase brand awareness, with the goal of establishing itself as the go-to destination for Chinese fans of Korean music and entertainment. CUBE Entertainment chose NetEase Cloud Music as its strategic partner because of the proven copyright management capabilities and the consumption potential of the large, demographically young user base.
Launched in April 2013, NetEase Cloud Music has grown to become one of the most widely recognized and most popular music platforms in China, especially among the younger demographic segments, with more than 600 million registered users. Focusing on delivering a differentiated and premium user experience, NetEase Cloud Music is known for providing its personalized recommendations, distinctive song lists, reviews and social interaction. With a strong track record in copyright management of digital content, the platform encourages users to protect original music and has been expanding its licensing relationships with other leading Korean-focused firms including SM Entertainment, JYP Entertainment, Big Hit Entertainment and Loen Entertainment.
About NetEase, Inc.
NetEase, Inc. (NASDAQ: NTES) is a leading internet technology company in China dedicated to providing online services centered around content, community, communication and commerce. NetEase develops and operates some of China's most popular PC-client and mobile games, and partners with Blizzard Entertainment, Mojang AB (a Microsoft subsidiary) and other global game developers to operate some of the most popular international online games in China. NetEase also operates Kaola.com and Yanxuan, two e-commerce platforms that cater to the rising middle-class consumer market in China. In addition, NetEase offers advertising, e-mail and other services. For more information, please visit: http://ir.netease.com/.
