NetEase Cloud Music Enters into Strategic Partnership with CUBE Entertainment
NetEase Cloud Music is one of China’s leading music streaming platforms. It is owned by leading Chinese internet company NetEase, Inc. (NASDAQ: NTES). Recently, the company announced that they have entered into a strategic partnership with CUBE Entertainment. CUBE is one of the largest entertainment companies in South Korea. Under the partnership agreement, NetEase Cloud Music gains access to CUBE Entertainment’s complete music catalog. This catalog includes sought-after albums and tracks from popular performers such as BTOB, CLC, PENTAGON, Yoo Seon-Ho and (G)I-DLE.
The strategic alliance with CUBE Entertainment further expands NetEase Cloud Music’s Korean music library. IT allows them to further 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. This will help to achieve their goal of establishing themselves 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 their proven copyright management capabilities and the consumption potential of their large, demographically young user base.
About NetEase Cloud Music
Launched in April 2013, NetEase Cloud Music has grown to become one of the most widely recognized and most popular music platforms in China. This is especially the case among the younger demographic segments. In fact, NetEase Cloud Music has more than 600 million registered users. The company focuses on delivering a differentiated and premium user experience. In fact, they provide their userbase personalized recommendations, distinctive song lists, reviews and social interaction. The company also has a strong track record in copyright management of digital content. In fact, the platform encourages users to protect original music and has been expanding its licensing relationships with other leading Korean-focused firms. These include SM Entertainment, JYP Entertainment, Big Hit Entertainment, and Loen Entertainment.
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