NetEase Cloud Music and RYCE Entertainment Form Strategic Partnership

Rhea-AI Summary

Cloud Music Inc. (HKEX: 9899, 'NetEase Cloud Music') announced a strategic partnership with RYCE Entertainment to expand its music content library in China. NetEase Cloud Music will have 30-day initial launch rights for new additions to RYCE Entertainment's music catalog and will collaborate to promote RYCE Entertainment's artists and music in China.

Positive

• NetEase Cloud Music is expanding its music content library through a strategic partnership with RYCE Entertainment, gaining access to an expanding portfolio of music in China.
• The platform has a unique music community atmosphere, highly interactive user base, and impressive user stickiness, with 189 million monthly active users in 2022.
• The partnership with RYCE Entertainment is part of NetEase Cloud Music's strategy to partner with leading entertainment companies globally, following previous partnerships with Rock Records and B'in Music.

Negative

• None.

HANGZHOU, China, July 14, 2023 /PRNewswire/ -- Cloud Music Inc. (HKEX: 9899, "NetEase Cloud Music" or the "Company"), a well-known online music platform featuring a vibrant content community, today announced that it has entered into a strategic partnership agreement (the "Agreement") with RYCE Entertainment, one of China's leading music and entertainment companies, to further expand the Company's sweeping music content library.

Beyond the extension of previous cooperation, NetEase Cloud Music is now able to access an expanding portfolio of RYCE Entertainment's music catalog in China with 30-day initial launch rights to distribute new additions to the catalog under the latest terms of the Agreement. The two companies will collaborate to promote RYCE Entertainment's prominent artists and music catalog in China through the synergies of extensive music production and distribution prowess. 

Since its founding in 2021, RYCE Entertainment has been devoted to creating and distributing critically acclaimed music to a global audience, and its music catalogue boasts works from a diverse roaster of talented artists, including Jackson Wang, Amber Liu, Tablo, PSY.P, Caelan Moriaty, Oscar Wang, AnsrJ and Renyu Zheng, among others.

As one of China's leading online music platforms, NetEase Cloud Music is a preferred online destination for younger generations to enjoy music across a wide variety of genres from artists both at home and abroad. The platform boasts a unique music community atmosphere, highly interactive user base and impressive user stickiness. In 2022, NetEase Cloud Music hosted 189 million monthly active users who showcased vigorous average daily music listening trends and interactions with other users in the community. Together, these features underpin NetEase Cloud Music's robust capabilities in efficiently promoting music content and enhancing the interactions between artists and their fan base.

As a forerunner in China's online music industry, NetEase Cloud Music continues to partner with leading entertainment companies around the globe. Earlier in 2023, the Company further extended its portfolio of C-pop music and other popular genres through partnerships with other iconic production companies including Rock Records and B'in Music. With a powerful and growing portfolio of music from major labels that span a wide range of genres and geographies, NetEase Cloud Music is known for incubating independent musicians and fostering emerging musicians as it continues to grow its production capabilities and loyal Gen Z community of dedicated music fans.

About RYCE ENTERTAINMENT

RYCE is an innovative global music and entertainment company which operates in three main business sectors: music, artist management, and IP development.

Having integrated top management and production teams from across the industry, RYCE presents a strong lineup of talent, backed with vast copyright and media resources, industry access and networks. The company continues to develop creative business models to produce entertainment content that adapts to new media trends and is committed to creating a diversified and contemporary entertainment company.

About Cloud Music Inc.

Launched in 2013 by NetEase, Inc. (NASDAQ: NTES; HKEX: 9999), Cloud Music Inc. (HKEX: 9899) is a well-known online music platform featuring a vibrant content community. 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 Cloud Music Inc. 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:

Zhang Mengqi
NetEase, Inc.
globalpr@service.netease.com

View original content:https://www.prnewswire.com/news-releases/netease-cloud-music-and-ryce-entertainment-form-strategic-partnership-301877377.html

SOURCE NetEase, Inc.

FAQ

What is the strategic partnership announced by Cloud Music Inc. (HKEX: 9899, 'NetEase Cloud Music')?

The strategic partnership is with RYCE Entertainment, one of China's leading music and entertainment companies, to expand NetEase Cloud Music's music content library in China.

How many monthly active users did NetEase Cloud Music have in 2022?

NetEase Cloud Music had 189 million monthly active users in 2022.

What is the goal of the partnership with RYCE Entertainment?

The goal is to promote RYCE Entertainment's artists and music in China through collaboration and access to an expanding portfolio of music in China.