Kuke Music Makes Initial Steps into AI Music Field

Rhea-AI Summary

Kuke Music Holding (NYSE: KUKE), a prominent classical music service platform in China, announced the establishment of a professional AI team dedicated to development, operations, and marketing in the AI music field. This initiative aims to enhance their music app and automotive in-car networking platforms with AI-driven music recommendations, automated content generation, and personalized services.

The AI team is composed of industry experts with significant experience in AI algorithms and music generation. Kuke anticipates that AI technology will open new opportunities within the music industry and is committed to continuous investment in AI music R&D to launch innovative products and improve user experiences.

Positive

• Formation of a specialized AI team indicates a strategic move towards innovation.
• AI technology integration may enhance user experience with personalized services and intelligent recommendations.
• Investment in AI music R&D could lead to the development of new, innovative products.
• AI-generated music content can potentially attract a broader audience and create new revenue streams.

Negative

• Initial investment and ongoing R&D costs in AI technology could impact short-term financial performance.
• Uncertainty around the effectiveness of AI-generated music content in meeting user expectations.
• Potential risk of increased competition in the AI music space from other tech-savvy music platforms.

BEIJING, June 6, 2024 /PRNewswire/ -- Kuke Music Holding Limited ("Kuke" or the "Company") (NYSE: KUKE), a leading classical music service platform in China, today announced the formation of a professional AI team for development and operations, as well as a marketing team, to enter the AI music field. AI-enhanced music will be launched on Kuke's app and on various automotive in-car networking platforms, serving more end customers.

Kuke will leverage AI technology to provide intelligent music recommendations, automatically generate music content, and offer personalized services to enhance user experience. The newly formed AI team brings together industry experts with extensive experience in AI algorithms and music generation.

Kuke expects that AI technology will bring new opportunities to the music industry. The Company plans to continue investing in AI music research and development, launching innovative products and services to improve the user music experience in the future.

About Kuke Music Holding Limited (NYSE: KUKE)

Kuke is a leading classical music service platform in China encompassing the entire value chain from content provision to music learning services, with approximately 3 million audio and video music tracks. By collaborating with its strategic global business partner Naxos, the largest independent classical music content provider in the world, the foundation of Kuke's extensive classical music content library is its unparalleled access to more than 900 top-tier labels and record companies. Leveraging its market leadership in international copyrighted classical music content, Kuke provides highly scalable classical music licensing services to various online music platforms, and classical music subscription services to over 800 universities, libraries and other institutions across China. In addition, it has hosted Beijing Music Festival ("BMF"), the most renowned music festival in China, for 24 consecutive years. Through KUKEY, the Company's proprietary smart music learning solutions, Kuke aims to democratize music learning via technological innovation, bring fascinating music content and professional music techniques to more students, and continuously improve the efficiency and penetration of music learning in China. For more information about Kuke, please visit https://ir.kuke.com/

Forward-looking Statements

This announcement contains forward looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "confident," "potential," "continue" or other similar expressions. Statements that are not historical facts, including but not limited to statements about Kuke's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including those in Kuke's registration statement filed with the Securities and Exchange Commission. Further information regarding these and other risks is included in Kuke's filings with the SEC. All information provided in this press release is as of the date of this press release, and Kuke undertakes no obligation to update any forward-looking statement, except as required under applicable law.

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SOURCE Kuke Music Holding Limited

FAQ

What new initiative has Kuke Music launched?

Kuke Music has formed a professional AI team to develop and market AI-enhanced music services.

How will Kuke Music utilize AI technology?

Kuke Music will use AI for intelligent music recommendations, automatic content generation, and personalized user services.

What platforms will feature Kuke's AI-enhanced music?

Kuke's AI-enhanced music will be available on their app and various automotive in-car networking platforms.

What is the significance of Kuke Music's new AI team?

The AI team consists of industry experts in AI algorithms and music generation, aiming to innovate and improve user experiences.

What are the potential benefits of Kuke Music's investment in AI technology?

AI technology could boost user experience, attract a broader audience, and create new revenue streams through innovative products.