HANGZHOU, China, June 10, 2022 /PRNewswire/ — Cloud Village Inc. (HKEX: 9899, ”NetEase Cloud Music” or the “Company”), a leading provider of interactive music streaming services in China, today announced that it has entered into a digital music distribution license agreement (“the Agreement”) with SM Entertainment Co., Ltd. (“SM Entertainment”), a leading entertainment group South Koreagranting NetEase Cloud Music the right to distribute SM Entertainment’s music catalog.
Under the terms of the agreement, the two companies will work together to conduct in-depth cooperation and jointly promote Korean music and artists and bring more high-quality music content to music lovers and artists. SM Entertainment’s strong 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 the entertainment industry and leads the K-Pop trend in the world with a strong global presence in overseas markets such as North America and Europe.
As one of China major online music platforms, NetEase Cloud Music has gained popularity among Chinese music fans, especially among the younger generation. The unique music community atmosphere, highly interactive user base and strong user adherence of NetEase Cloud Music bodes well for SM Entertainment’s content distribution and its ability to effectively and efficiently reach the younger generation in China.
NetEase Cloud Music has actively expanded its extensive portfolio and recently entered into music copyright cooperation with a number of major 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 provide more high-quality music content for Chinese music lovers.
About Cloud Village Inc.
Launched in 2013 by NetEase, Inc. (NASDAQ: NTES; HKEX: 9999), Cloud Village Inc. (HKEX: 9899) is a leading provider of interactive music streaming services in China. Dedicated to providing high user experience, Cloud Village Inc. provides accurate and personalized recommendations, fosters user interaction and builds a strong social community. Its focus on discovering and promoting up-and-coming musicians has made Cloud Village Inc. a premier destination for exploring new independent music among music enthusiasts around the world. China. The platform has been recognized as the most popular entertainment app among China vibrant Gen Z community.
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This press release contains forward-looking statements relating to the Company’s business prospects, financial performance estimates, forward-looking business plans and growth strategies. These forward-looking statements are based on information currently available to the Company and are set forth herein based on 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 occur in the future. There are numerous risks and uncertainties underlying these forward-looking statements. In light of the risks and uncertainties, the inclusion of forward-looking statements in this press release should not be taken as a statement by the board of directors or the company that the plans and objectives will be achieved, and investors should not not place undue reliance on these statements. .
Cloud Village Inc.
SOURCENetEase Cloud Music