Kuke Music Supports Prominent Beijing Forum for Performing Arts

Rhea-AI Summary

Kuke Music Holding Limited (NYSE: KUKE), a top classical music platform in China, participated in the Beijing Forum for Performing Arts 2022, highlighting its significant role in revitalizing performing arts. With a library of approximately 3 million music tracks, including over 2 million traditional classical tracks, Kuke is leveraging longstanding relationships with music labels. The company aims to expand content and its client base, focusing on audio and video offerings to schools and enterprises in 2023.

Positive

• Kuke has built a library of approximately 3 million music tracks, enhancing its competitive advantage.
• The company has strong partnerships with top European production houses and music labels, facilitating content acquisition.
• Kuke has established itself as a leader in licensing classical music, catering to both domestic and international markets.

Negative

• None.

Company Leveraging More than 2 Million Classical Music Tracks

BEIJING, Dec. 28, 2022 /PRNewswire/ -- Kuke Music Holding Limited ("Kuke" or the "Company") (NYSE: KUKE), a leading classical music service platform in China, announced the Company's attendance at the recently held China National Center for the Performing Arts ("China NCPA" ) hosted Beijing Forum for Performing Arts 2022. The theme of this year's global forum was "Revitalizing the Performing Arts: Tradition and Innovation". Participants from over 30 countries and more than 100 art institutions participated both online and in-person in lively discussions including the monetization of long-form performing arts video.

Leveraging nearly 22 years of long-standing relationships with world-renowned music labels and publishers, especially Naxos and years of music production and content acquisition efforts, Kuke Music Holding has built a library of classical music content, which consists of approximately 3 million music tracks, including more than 2 million traditional classical music tracks, reflecting the Company's competitive advantage in gaining licensing rights in the genres it targets. Kuke is also one of the few companies in China with the experience and scale to successfully produce large-scale live classical music events. During 2022, Kuke Music leveraged its solid relationships with not only Naxos Music Group, but also other top European production houses and has acquired award-winning long-form video catalogues to meet growing demand from both domestic and international markets. This follows the Company's expansion into Chinese cinema chains.

Mr. He Yu, Chief Executive Officer of Kuke Music Holding Limited, commented, "As one of the world's leading classical music streaming and licensing platforms we are proud to support this prominent cultural event. We continue to drive innovation, catalog expansion and the adoption of exciting new ways to interact with and use our licensed content. Our focus in 2023 is on unlocking greater value by expanding our content and base of enterprises and schools we serve with both audio and video options. The classical music market has historically been known for its sought-after demographics, attractive economic and educational profile, and the evergreen nature of content. We are a leader in licensing the music that becomes the soundtrack of people's lives. We are excited to capture additional opportunities as we work with the broader industry to facilitate growth by levering our leadership position and platform."

Ms. Li Sun, President of Kuke Music and CEO of Naxos China, Mr. Matthias Lutzweiler, deputy CEO of Naxos Music Group and Mr. Erwin Stürzer, General Manager of Naxos Audiovisual division attended the two-day event alongside delegates from Teatro alla Scala, Carnegie Hall, San Francisco Opera, Sydney Opera House, Finnish National Opera and Ballet, and other renowned art institutions.

About Kuke Music Holding Limited

Kuke is a leading classical music service platform in China encompassing the entire value chain from content provision to music learning services. 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 is the significance of Kuke Music's participation in the Beijing Forum for Performing Arts 2022?

Kuke Music's participation underscores its role in promoting classical music and revitalizing performing arts, as it engages with over 100 art institutions globally.

How many classical music tracks does Kuke Music hold?

Kuke Music holds a library of approximately 3 million music tracks, including more than 2 million traditional classical music tracks.

What are Kuke Music's plans for 2023?

In 2023, Kuke Music aims to expand its content and client base, focusing on providing audio and video options to enterprises and schools.

Which notable partnerships does Kuke Music have?

Kuke Music has established strong relationships with world-renowned music labels, particularly Naxos, enhancing its content offerings.

What market does Kuke Music primarily serve?

Kuke Music primarily serves the classical music market in China, providing licensing services and subscription options to universities and institutions.