Prnewswire·2024-04-30 01:00Core Viewpoint - Cloud Music Inc. has entered into a licensing agreement with JYP Entertainment to distribute its music catalog in China, enhancing the availability of K-Pop music on its platform [1][2]. Group 1: Agreement Details - The agreement allows both companies to promote K-Pop artists and enhance the user experience for Chinese music lovers [2]. - NetEase Cloud Music will feature a wide range of JYP Entertainment's artists, including TWICE, Stray Kids, and ITZY, along with their latest albums and hit songs [3]. Group 2: User Engagement and Platform Strength - In 2023, NetEase Cloud Music had 206 million monthly active users and over 44 million monthly paying users, indicating strong engagement, particularly among younger audiences [5]. - The platform's recommendation system has improved, leading to a growing proportion of music streams from personalized recommendations, which benefits JYP Entertainment's content distribution [5]. Group 3: Industry Position and Collaborations - NetEase Cloud Music has previously collaborated with other major South Korean entertainment companies, such as SM Entertainment and YG Entertainment, to expand its K-Pop library [6]. - By the end of 2023, the platform had approximately 149 million cumulative music tracks, showcasing its extensive copyright content and collaborations with global music labels [7]. Group 4: Company Background - Founded in 2013, Cloud Music Inc. is recognized for its vibrant content community and personalized user experience, making it a popular platform among China's Generation Z [8].