HANGZHOU, China, Nov. 28, 2022 /PRNewswire/ -- Cloud Music Inc. (HKEX: 9899, "NetEase Cloud Music" or the "Company"), a leading interactive music streaming service provider in China, announced that it has entered into a licensing renewal agreement ("the Agreement") with Avex, a leading entertainment conglomerate in Japan, granting NetEase Cloud Music the right to distribute Avex's music catalog in China.
Under the terms of the Agreement, both parties will collaborate to promote the presence of prominent and fan-favorite J-pop artists and content under the Avex. Both parties will utilize their advantages to unlock more opportunities and bring fans closer to Avex's vast and influential catalog through innovative approaches.
Founded in 1988, Avex began as a wholesale business of imported music records, and established its own label, Avex Trax in 1990. Until now, Avex has also expanded into various areas such as record labels, live music performances, animation, and filmmaking. Avex has created numerous movements driving the trends of each era. There are many world-renowned artists on its roster, including Ayumi Hamasaki, Ai Otsuka Kumi Koda, GENERATIONS from EXILE TRIBE, Awesome City Club, HIRAIDAI, I Don't Like Mondays., and NAQT VANE, as well as viral phenomenon PIKOTARO.
As one of China's leading online music platforms, NetEase Cloud Music has been a preferred online destination among the younger generation to enjoy music in a wide variety of genres from artists both at home and abroad. The unique music community atmosphere, highly interactive user base and impressive user stickiness of NetEase Cloud Music underpins the platform's capability in efficiently promoting music content and enhancing the interactions between artists and their fan base in China.
NetEase Cloud Music has been actively broadening its portfolio and expanding its partnerships with top entertainment companies to enrich the high-quality content offering on the platform to better address users' diverse music tastes. Recently, NetEase Cloud Music has extended music copyright cooperations with a number of top record labels, including Modern Sky, Emperor Entertainment Group, China Record Group, Feng Hua Qiu Shi, Yuehua Entertainment, Linfair Records, SM Entertainment, TF Entertainment, YG Entertainment and KAO!INC. Moving forward, NetEase Cloud Music will pursue further collaborations with upstream copyright owners and continue to provide more high-quality music content for music lovers in China.
About Cloud Music Inc.
Launched in 2013 by NetEase, Inc. (NASDAQ: NTES; HKEX: 9999), Cloud Music Inc. (HKEX: 9899) is a leading interactive music streaming service provider in China. Dedicated to providing an elevated user experience, Cloud Music Inc. provides precise, personalised recommendations, promotes user interaction and creates a strong social community. Its focus on discovering and promoting emerging musicians has made Cloud Music Inc. a destination of choice for exploring new and independent music among music enthusiasts in China. The platform has been recognised as the most popular entertainment app among China's vibrant Generation Z community.
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Forward Looking Statements
This press release contains forward-looking statements relating to the business outlook, estimates of financial performance, forecast business plans and growth strategies of the Company. These forward-looking statements are based on information currently available to the Company and are stated herein on the basis of 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 be realised in the future. Underlying these forward-looking statements are a lot of risks and uncertainties. In light of the risks and uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as representations by the Board or the Company that the plans and objectives will be achieved, and investors should not place undue reliance on such statements.
Cloud Music Inc.
Source: NetEase Cloud Music Related Stocks: HongKong:9999 NASDAQ:NTES