Chinese music streaming platform NetEase Cloud Music has entered into a strategic partnership with Cube Entertainment, one of the largest entertainment companies in South Korea.
Under the agreement, NetEase has been granted access to Cube Entertainment’s complete music catalog, including albums and tracks from artists such as BTOB (pictured), CLC, PENTAGON, Yoo Seon-Ho and (G)I-DLE.
Cube comprises several divisions including recorded music, publishing, a talent agency, music production, event management and concert production.
NetEase Cloud Music is one of China’s largest digital music firms.
It was launched in April 2013 and has over 600 million registered users.
The partnership with Cube follows the company’s addition of licensing partnerships with other leading Korean-focused firms including SM Entertainment, JYP Entertainment, Big Hit Entertainment and Loen Entertainment.
According to NetEase, it was chosen as as a Cube Entertainment partner because of its ‘proven copyright management capabilities and the consumption potential of the large, demographically young user base’.
In November 2018 NetEase completed a $600m round of financing with investors to take on China’s leading music streaming player, Tencent Music, which started trading on the New York Stock Exchange on December 12.
In March 2018, indie label agency Merlin signed non-exclusive licensing deals for China with NetEase, and rivals Tencent and Alibaba.
In December 2017 Kobalt’s publishing division and its AWAL recorded music operation signed a deal to license and distribute NetEase Cloud Music’s catalog.
As part of that deal NetEase also exclusively sub-licenses Kobalt and AWAL repertoire in China to its fellow digital platforms.Music Business Worldwide