Kuke Announces Strategic Cooperation Agreement with People's Music Publishing House

Rhea-AI Summary

Kuke Music Holding Limited (NYSE: KUKE) announced a strategic agreement with People's Music Publishing House on July 23, 2021, to establish the People's Music & Naxos Global Platinum Record Program in China. This partnership aims to elevate Chinese classical music globally and enhance music education through interdisciplinary curriculum development. Kuke, leveraging its extensive licensing from over 900 record companies, will collaborate with People's Music to create smart music education resources and promote classical music literacy among students.

Positive

• Strategic partnership with People's Music enhances Kuke's position in the Chinese classical music market.
• Creation of the People's Music & Naxos Global Platinum Record Program will promote Chinese music internationally.
• Collaboration aims to improve music education in China, addressing fundamental musical literacy shortages.

Negative

• None.

BEIJING, July 23, 2021 /PRNewswire/ -- Kuke Music Holding Limited (NYSE: KUKE) ("Kuke" or the "Company"), a leading classical music content provider and AI-driven music education company in China, today announced a strategic cooperation agreement with People's Music Publishing House ("People's Music"). The two parties will work together to establish the People's Music & Naxos Global Platinum Record Program of China, and the Global Resource Co-construction Plan for the National Aesthetic Education Research Music Encyclopedia Interdisciplinary Curriculum. Meanwhile, both parties will explore various cooperation opportunities utilizing the music licensing resources of both parties.

Kuke is a leading classical music content provider and technology-driven music education company in China, focused on classical music licensing, subscription and smart educational content and system development. Kuke has licensing rights from more than 900 top-tier record companies in the world, including Naxos. It has also independently developed the KUKEY smart piano, various digital music educational content, and associated SaaS education and management systems. People's Music, an authoritative music publishing house in China with a leading market share, focuses on music creation, music education and professional music content publishing in China.

YiShan Zhao, Deputy Editor of People's Music, commented, "Our cooperation will cultivate excellent domestic musicians, connect music production with publishing, help Chinese music go international, bolster the smart music education ecosystem, and strengthen the tie between music publishing and the Internet."

He Yu, CEO of Kuke, commented, "We are committed to promoting and perfecting music education in China. We have high expectations for China's huge classical music market, and are excited to help professional classical music artists in China to better communicate with the world."

Joint launch of People's Music & Naxos Global Platinum Record Program of China

Based on the notion of "projecting Chinese voices and telling Chinese stories," People's Music and Kuke have established the "People's Music & Naxos Global Platinum Records Program of China," which is the first cooperative program in China between the two parties. The program selects and curates orchestral, chamber, vocal, and national orchestral music from young and middle-aged Chinese composers around the world to provide them with a broader platform to share their music via the record album format.

The two parties will jointly establish the Platinum Record Program, with People's Music acting as the primary administrative body and leveraging Kuke's overseas connections, to establish a new standard for the recording industry, make outstanding Chinese musical works known overseas and spread Chinese music culture globally. The program will also offer various related competitions, performances and other relevant activities.

The understanding of Chinese classical music in the global community is currently insufficient. Allowing Chinese local music to spread overseas in this formal manner promotes Chinese culture while protecting the copyright of musical content.

Interdisciplinary musical courses that promote wholesome education

A major bottleneck for the development of China's music industry is the lack of fundamental musical literacy. Aesthetic education has become a key area of development for quality education in schools. According to regulatory authorities, schools at all levels and types are required to provide a comprehensive range of aesthetic education courses covering music and fine arts.

Kuke and People's Music will utilize their combined advantages to establish a high-quality editorial team to launch interdisciplinary courses that enhance musical literacy. By strengthening aesthetic education for adolescents, the courses will foster independent thinking and creativity, while helping students boost their cultural literacy.

Towards the goal of building a comprehensive music education ecosystem, Kuke will utilize its KUKEY system to cooperate with People's Music to develop a series piano courses with full access to various music education content, including content from the Naxos Group content library, and establish a fundamental musical knowledge education and assessment system. Both parties are committed to sharing their complementary advantages in sheet music, audio and video content resources to achieve an organic combination of traditional books and audio-visual resources.

In addition to the cooperation in musical score resources built in smart pianos, Kuke Music and People's Music will also jointly establish smart music education laboratories and music education training platforms and to facilitate the building of mainstream music communities for the promotion and sharing of music resources.

He Yu, founder and chairman of Kuke Music, commented, "Our hope is that, through this cooperation with People's Music, we can cross borders to combine eastern and western classical music and help benefit both beginners and professional musicians. Kuke is committed to building a multi-faceted music ecosystem, promoting the further development of classical music and enhancing the quality of music education in China.  

About Kuke Music Holding Limited

Kuke is a leading comprehensive music education group in China, encompassing the entire value chain from content provision to education services. The foundation of Kuke's extensive classical music content library is its access to more than 900 top-tier record companies, including Naxos, the leading classical music content provider in the world. Leveraging its market leadership in copyrighted classical music content in China, Kuke provides highly scalable classical music licensing and subscription services to over 700 universities, libraries and online music platforms. In addition, it has hosted BMF, the most renowned music festival in China, for 23 consecutive years. At the same time, Kuke provides consumers with premium music content and music literacy education through its apps, Kuke Music and BMF Club. Through KUKEY, the Company's proprietary AI-driven music education system, Kuke aims to democratize music education via technological innovation, bring fascinating music content and professional music techniques to more students, and continuously improve the efficiency and penetration of music learning. By integrating music content and education, Kuke is committed to building a unique smart music education ecosystem and providing students with full life-cycle music programs.

About Naxos

Founded in 1987 by Klaus Heymann, Naxos Records is the world's leading classical music label as measured by the number of new recordings it releases and the depth and breadth of its catalogue. Under the stewardship of Klaus Heymann, Naxos has transformed from a budget label focusing on standard repertoire into a global music group comprising a raft of downloading and streaming platforms, an extensive catalogue of multimedia products, a vast international logistics network, a recording engineering arm, a publications division, and a licensing department.

Investor Relations Contact
Kuke Music Holding Limited
Email: kuke@icrinc.com  
ir@kuke.com
Phone: +1 (212) 321-0602

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SOURCE Kuke Music Holding Limited

FAQ

What is Kuke's recent announcement regarding People's Music?

Kuke Music announced a strategic cooperation with People's Music to enhance music education and promote Chinese classical music globally.

What is the People's Music & Naxos Global Platinum Record Program?

It is a program aimed at selecting and promoting Chinese orchestral and vocal music globally, established through Kuke and People's Music's collaboration.

How will the partnership benefit music education in China?

The partnership will develop interdisciplinary music courses to enhance musical literacy among students and support aesthetic education.

What resources will Kuke and People's Music share?

They will share music content, educational resources, and establish smart music education laboratories.

When was the agreement between Kuke and People's Music announced?

The announcement was made on July 23, 2021.