Cloud Music Inc. signs agreement with JYP Entertainment to expand K-pop portfolio

Hangzhou, China, April 29, 2024 /PRNewswire/—— Cloud Music Company NetEase (HKSE: 9899, ​​”NetEase (Nasdaq:) Cloud Music” or the “Company”), China's leading interactive music streaming service provider, today announced that it has entered into a digital music distribution license agreement (the “Agreement” ”) ) in partnership with JYP ENTERTAINMENT Corp. (“JYP Entertainment”), a leading entertainment company South Koreagranting NetEase Cloud Music the right to distribute JYP Entertainment’s music catalog in China China.

According to the terms of the agreement, the two companies will use their respective music strengths to jointly promote JYP Entertainment's fan-favorite K-Pop artists and bring more high-quality music to Chinese music lovers. The partnership further expands the range of K-pop music available on NetEase Cloud Music. The two parties will work closely to leverage their respective strengths to enhance user experience and explore new commercialization opportunities derived from top K-pop music content.

Through this partnership, NetEase Cloud Music will provide a large number of JYP Entertainment’s music works, including well-known artists and groups such as JY ParkTWICE, street children, boy storyizz, Yao Chen, NMIXX etc. This includes their entire discography, including TWICE's latest album “WithYOU-th,” NMIXX's “Love Me Like This,” ITZY's “CAKE,” as well as hits like “Nobody,” “Bad Girl Good Girl” and “Stop Stop” it. In addition, NetEase Cloud Music has also launched a series of JYP-themed Vinyl VIP decorations to meet the personalized preferences of young users and enhance the music experience of Korean Wave fans.

Founder of JYP Entertainment Asia's best producer, JY ParkFounded in 1997, it is a comprehensive cultural and entertainment enterprise and one of the most influential entertainment companies in China. South Korea. JYP Entertainment was established to promote the development of the entertainment industry and promote globalization. It is committed to discovering and developing creative, proactive talents who can lead the industry. JYP Entertainment is famous in the history of K-Pop for launching nearly a hundred popular artists including singers, idol groups, actors, etc., providing high-quality works such as albums and concerts to young users around the world.In addition to its headquarters located in South Koreathe company has branches in the following areas China, USAand Japan. Expand the influence of K-Pop by actively communicating with the global music industry.

as one of China's As a leading online music platform, NetEase Cloud Music has 206 million monthly active users and more than 44 million monthly paying users of online music services in 2023. . NetEase Cloud Music's unique music community atmosphere, highly interactive user base and user stickiness further prove the platform's ability to expand the influence of JYP Entertainment music among the younger generation, while enhancing the connection between K-Pop artists and their Chinese fan base. interactive. . In addition, on NetEase Cloud Music, thanks to more insights into user preferences and advanced artificial intelligence algorithms, the proportion of music streaming recommended by the platform continues to grow.This further amplifies its strength in personalized music recommendations, changing traditional listening habits, which bodes well for JYP Entertainment to effectively distribute content and engage with music lovers China.

NetEase Cloud Music continues to strengthen cooperation with Korean music companies and obtain copyright licenses. Previously, NetEase Cloud Music has joined hands with top Korean entertainment companies such as SM Entertainment, YG Entertainment, and CUBE Entertainment to provide users with access to high-quality Korean music. NetEase Cloud Music has partnered with JYP Entertainment to further expand its K-pop library, demonstrating the platform's ongoing efforts to promote Korean music content to satisfy the needs of its vast Chinese fans.

As of the end of 2023, NetEase Cloud Music has accumulated approximately 149 million music tracks, ensuring a wide range of copyrighted content and enhancing the content ecosystem. In addition to the Korean record companies mentioned above, the platform has recently expanded its cooperation to include Universal Music (AS:), sony (NYSE: )Music, Warner MusicRolling Stone Records, Modern Sky, emperor entertainmentIn the future, NetEase Cloud Music will continue to cooperate with global music companies to provide Chinese music lovers with a wider range of high-quality music content and a better user experience.

about Cloud Music Company

Launched in 2013 NetEase (NASDAQ: NTES; HKEX: 9999), Cloud Music Company (HKEX code: 9899) is a well-known online music platform with a vibrant content community. Committed to providing an improved user experience, Cloud Music Company Provide accurate and personalized recommendations, promote user interaction and create a strong social community.It focuses on discovering and promoting emerging musicians, which makes Cloud Music Company The premier destination for music lovers discovering new independent music China.The platform has been recognized as the most popular entertainment application China's A vibrant Gen Z community.

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forward-looking statements

This press release contains forward-looking statements regarding the Company's business prospects, financial performance estimates, projected business plans and growth strategies. These forward-looking statements are based on information currently available to the Company and are based on its prospects as of the date 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 realized in the future. There are a number of risks and uncertainties underlying these forward-looking statements. In light of the risks and uncertainties, the forward-looking statements contained in this press release should not be relied upon as representations by the Board or the Company that plans and objectives will be achieved, and investors should not place undue reliance on such statements.

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