K-pop giant SM Entertainment strikes licensing deal with NetEase Cloud Music

K-pop giant SM Entertainment strikes licensing deal with NetEase Cloud Music

Chinese tech giant NetEase‘s subsidiary Cloud Village – which operates audio streaming service NetEase Cloud Music – has entered into a licensing offer with K-pop organization SM Enjoyment, granting Cloud Tunes the right to distribute SM’s audio catalog.

According to a media statement issued by NetEase, the phrases of the offer will see the two firms “work collectively to carry out in-depth cooperation and jointly boost Korean audio and artists”.

Established in 1995, South Korea’s SM Amusement capabilities a roster of prominent K-Pop artists like KANGTA, BoA, TVXQ!, Super JUNIOR, Girls’ Generation, SHINee, EXO, Purple Velvet, NCT and aespa.

SM Leisure is led by founder and Chief Producer Lee Soo-guy. He not long ago shipped a speech at Stanford University about the company’s record and eyesight.

NetEase Cloud Audio notes now that it has been “actively growing its wide portfolio”.

The platform adds that it just lately struck agreements with report labels which includes Fashionable Sky, Emperor Enjoyment Group and China File Group.

Paris-headquartered audio organization Believe that also lately inked a renewed deal with NetEase Cloud Music (as perfectly as with its rival Tencent Songs Enjoyment Songs).

MBW reported previous month that NetEase Cloud Music and its rival Tencent New music both equally additional more paying new music consumers than Spotify in Q1, 2022.

NetEase Cloud Music’s all round month-to-month energetic end users (MAUs) of online audio services stood at 181.7 million in Q1 2022, down a little from 183.1 million in the prior 12 months quarter.

The platform’s shelling out on the net audio users (36.7m) accounted for 20.2{09ec5e189e295255cf41ad3cf4b9553f29f116f623045a73133932ca9ffe3aaa} of all of its online songs MAUs in the quarter.

NetEase Cloud Music’s income greater by 38.6{09ec5e189e295255cf41ad3cf4b9553f29f116f623045a73133932ca9ffe3aaa} YoY in Q1 2022, to RMB 2.1 billion (approx USD $331m).

SM Entertainment’s licensing deal with NeatEase Cloud Songs follows the K-pop company’s current deal struck with Warner Documents for woman team aespa.New music Small business Around the globe

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