Cloud Village, a subsidiary of Chinese language tech big NetEdge – which operates music streaming service NetEdge Cloud Music – has struck a licensing cope with Okay-pop firm SM Leisure, giving Cloud Music the rights to distribute SM’s music catalog has gone.
In keeping with a media assertion launched by NetEase, the phrases of the deal would see the 2 corporations “working collectively to collaborate deeply and collectively promote Korean music and artists”.
Based in 1995, South Korea’s SM Leisure has a roster of main Okay-pop artists akin to KANGTA, BoA, TVXQ!, SUPER JUNIOR, Women’ Technology, Shiny, EXO, Purple Velvet, NCT and aespa.
SM Leisure is led by founder and important producer Lee Soo-man. He just lately gave a speech at Stanford College concerning the firm’s historical past and outlook.
NetEase Cloud Music notes right this moment that it’s “actively increasing its broad portfolio”.
The platform stated it just lately entered into agreements with file labels together with Trendy Sky, Emperor Leisure Group and China Document Group.
Paris-headquartered music firm Consider just lately struck a brand new cope with NetEase Cloud Music (in addition to with its rival Tencent Music Leisure Music).
MBW reported final month that NetEase Cloud Music and its rival Tencent Music each added extra paying music customers than Spotify in Q1, 2022.
NetEase Cloud Music’s complete month-to-month lively customers (MAUs) of on-line music companies have been 181.7 million within the first quarter of 2022, down barely from 183.1 million within the prior yr quarter.
The platform’s paying on-line music customers (36.7m) accounted for 20.2% of all its on-line music MAUs within the quarter.
NetEase Cloud Music’s income grew by 38.6% to RMB 2.1 billion (roughly USD $331m) within the first quarter of 2022.
SM Leisure’s licensing cope with NeatEase Cloud Music follows the Okay-pop firm’s current cope with Warner Information for woman group Espa.worldwide music enterprise