Cloud Music Inc. Amplifies C-Pop Content with Extended Rock Records Partnership

Rhea-AI Summary

On March 30, 2023, Cloud Music Inc. (HKEX: 9899), a top music streaming service in China, renewed its distribution agreement with Rock Records Co., Ltd., a major independent record label in Asia. This renewal grants Cloud Music rights to distribute Rock Records' entire music catalog, including future releases. The partnership aims to enhance artist promotion and explore copyright cooperation, allowing sublicensing for various multimedia uses. Rock Records has a rich history in Mandopop and nurtures upcoming talent, further enriching Cloud Music's offerings, especially among younger audiences.

Positive

• Renewed distribution agreement with Rock Records enhances content portfolio.
• Rights to sublicense music for multimedia applications expand revenue opportunities.
• Collaboration focuses on artist promotion and innovative user experiences.

Negative

• None.

HANGZHOU, China, March 30, 2023 /PRNewswire/ -- Cloud Music Inc. (HKEX: 9899, "NetEase Cloud Music" or the "Company"), a leading interactive music streaming service provider in China, today announced that it has renewed its agreement ("the Agreement") with Rock Records Co., Ltd. ("Rock Records"), one of Asia's largest independent record labels, granting NetEase Cloud Music the right to distribute Rock Records' music catalog in China.

Under the terms of the Agreement, NetEase Cloud Music and Rock Records will continue to collaborate to promote the presence of Rock Records' prominent and fan-favorite artists and content. The renewal agreement, covering Rock Records' both back catalog and upcoming releases, also extends the strategic cooperation towards more in-depth initiatives on copyright cooperation between the two parties. Particularly, NetEase Cloud Music will also obtain the rights to sublicense Rock Records' music for use in multiple scenarios, such as third-party applications, website background music and smart devices. Moving ahead, NetEase Cloud Music and Rock Records will continue to collaborate on artist promotion and the distribution of top-notch content, and will be exploring more innovative approaches in the fields of user experience and commercial value.

Rock Records was founded in 1980 and is known in the Mandopop (Mandarin popular music) world as one of the most established and influential record labels in Asia. The label is also home to a diverse roster of critically acclaimed artists, including Tayu Lo, Jonathan Lee, Wakin Chau, Chenyue Chang, MC HOTDOG, Rene Liu, MayDay, Fish Leong, Karen Mok, Yuki Hsu, Cheer Chen and Gary Chaw. Numerous artists signed to Rock Records have been adored by audiences with a plethora of iconic classic work, and their popularity continues to be revived among China's younger generations. In 2022, in celebration to Rock Records' 40th anniversary, special music episodes were launched on NetEase Cloud Music. Titled "Rock 40 and Bands", 40 indie bands, including Sunset Rollercoaster, Second Hand Rose, Deca Joins and The Last Day of Summer 831, were invited to play their own unique renditions of classic hits by Rock Records, and the audience showed an overwhelmingly positive response.

In recent years, the new generation of artists signed to Rock Records have seen a rapid rise in popularity, with artists such as Shi Shi, Nine Chen, Men Envy Children, Howard Lee and Darcy becoming popular names among the younger generation. To further bolster its presence in the music industry, Rock Records launched its electronic music sub-label, ROKON, which has infused a new wave of energy into rapidly growing Chinese electronic music, a genre that is highly sought-after by today's youth.

As one of China's leading online music platforms, NetEase Cloud Music has been a preferred online destination among the younger generation, offering a wide selection of genres from both domestic and international artists. The vibrant music community atmosphere, highly interactive user base and impressive user stickiness of NetEase Cloud Music underpins the platform's capability to effectively promote music content and foster meaningful connections between artists and their fans in China.

NetEase Cloud Music has been actively broadening its portfolio and expanding its partnerships with top entertainment companies to enrich the high-quality content offering on the platform and to better address users' diverse music tastes. NetEase Cloud Music has recently extended its music copyright cooperation with a number of top record labels, including Modern Sky, Emperor Entertainment Group, China Record Group, Feng Hua Qiu Shi, Yuehua Entertainment, Linfair Records, SM Entertainment, TF Entertainment, YG Entertainment, KAO!INC, Avex, Pony Canyon and B'in Music. Moving forward, NetEase Cloud Music will forge ahead with top-notch music copyright holders and continue to provide more high-quality music content to music lovers in China. 

About Cloud Music Inc.

Launched in 2013 by NetEase, Inc. (NASDAQ: NTES; HKEX: 9999), Cloud Music Inc. (HKEX: 9899) is a leading interactive music streaming service provider in China. Dedicated to providing an elevated user experience, Cloud Music Inc. provides precise, personalised recommendations, promotes user interaction and creates a strong social community. Its focus on discovering and promoting emerging musicians has made the platform a destination of choice for exploring new and independent music among music enthusiasts in China. The platform has been recognised as the most popular entertainment app among China's vibrant Generation Z community.

Please see http://ir.music.163.com/ for more information.

Forward Looking Statements

This press release contains forward-looking statements relating to the business outlook, estimates of financial performance, forecast business plans and growth strategies of the Company. These forward-looking statements are based on information currently available to the Company and are stated herein on the basis of the outlook at the time of this press release. They are based on certain expectations, assumptions and premises, some of which are subjective or beyond our control. These forward-looking statements may prove to be incorrect and may not be realised in the future. Underlying these forward-looking statements are a lot of risks and uncertainties. In light of the risks and uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as representations by the Board or the Company that the plans and objectives will be achieved, and investors should not place undue reliance on such statements.

Investor Enquiries:

Angela Xu
Cloud Music Inc.
music.ir@service.netease.com 

Media Enquiries:

Li Ruohan
NetEase, Inc.
globalpr@service.netease.com 

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SOURCE NetEase Cloud Music

FAQ

What is the significance of the recent agreement between Cloud Music Inc. and Rock Records?

The renewed agreement allows Cloud Music Inc. to distribute Rock Records' entire catalog, enhancing its music offerings and collaboration on artist promotion.

When was the agreement between Cloud Music Inc. and Rock Records announced?

The agreement was announced on March 30, 2023.

How will the new agreement impact Cloud Music Inc.'s business?

The agreement is expected to improve Cloud Music's content variety and revenue through sublicensing rights for multimedia use.

What does the partnership between Cloud Music Inc. and Rock Records entail?

It includes promoting Rock Records' artists, distributing their music, and exploring deeper copyright cooperation strategies.

What is Rock Records known for?

Rock Records is recognized as one of Asia's leading record labels, primarily focused on the Mandopop genre and fostering new talent.