Prominent Music Companies Expand Partnership in China

Rhea-AI Summary

Kuke Music Holding Limited (NYSE: KUKE) has announced an extended partnership with Shanghai Music Publishing House to enhance music licensing, live events, and music education in China. This collaboration targets the growing market of tens of millions of music students and the multi-billion dollar music education sector. CEO He Yu expressed optimism about leveraging technology to modernize music education and improve traditional practices. The partnership aligns with Kuke's strategy to build relationships with major publishing houses in China, aiming to unlock shareholder value through enhanced music content and services.

Positive

• Extended partnership with Shanghai Music Publishing House aims to enhance music education and licensing.
• Focus on targeting tens of millions of music students in China.
• Partnership expected to modernize traditional music education practices.
• Kuke's CEO emphasizes potential for technology to improve music learning efficiency.

Negative

• None.

Kuke Music and Shanghai Music Publishing House to Collaborate on Music Licensing, Live Events and the Education Market

BEIJING, March 21, 2023 /PRNewswire/ -- Kuke Music Holding Limited ("Kuke" or the "Company") (NYSE: KUKE), a leading classical music service platform in China with approximately 3 million audio and video music tracks, and Shanghai Music Publishing House announced the extension of their expansive China partnership, which covers five segments: online content, commercial licensing, live events, physical publishing, and broader promotion of the music education market.

The partnership leverages Shanghai Music Publishing House's leadership of the national music book publishing market in China, with Kuke Music's dominant classical music licensing advantages to target China's tens of millions of music students, as well as the multi-billion dollar music education market.

Mr. He Yu, Chief Executive Officer of Kuke Music Holding Limited, commented, "We are excited to be extending, what has been a highly successful partnership for both Kuke and Shanghai Music Publishing House. We look forward to building on our strong foundation to achieve even greater mutual success, as we focus on technology and music, and explore a new model of digital music education and music culture development in order to help solve problems facing the traditional music education industry. This is another important step in the continued execution of Kuke's long-term business strategy of building-out strategic relationships with all the major publishing houses in China, as we continue to unlock our Company's true value for shareholders."

Musical instruction and learning have traditionally depended on paper-based and pirated digital music materials. The cooperation between Kuke and Shanghai Music Publishing House is expected to significantly modernize and close the market gap in China's music education field

About Shanghai Music Publishing House

Shanghai Music Publishing House (SMPH) is one of the earliest professional music publishing agencies in the People's Republic of China, which has already gone through over 60 years of glories. In the past 67 years, SMPH has launched more than 3,000 kinds of audio-visual, electronic, and digital publications, as well as nearly 10,000 kinds of books. So far, it has been topping the list in the national music book publishing market for years, becoming a veritable leading role in Chinese music publishing.

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.

View original content:https://www.prnewswire.com/news-releases/prominent-music-companies-expand-partnership-in-china-301777171.html

SOURCE Kuke Music Holding Limited

FAQ

What is the significance of Kuke's partnership with Shanghai Music Publishing House?

The partnership aims to enhance music education and licensing in China, targeting millions of students.

How will Kuke Music improve music education in China?

Through technology and modernizing traditional music learning methods.

When was the partnership between Kuke and Shanghai Music Publishing House announced?

The partnership was announced on March 21, 2023.

What is Kuke's stock symbol?

Kuke's stock symbol is KUKE, traded on NYSE.

What market is Kuke Music focusing on with this partnership?

Kuke is focusing on the multi-billion dollar music education market in China.