NetEase Cloud Music Strikes Key Licensing Deal With Kakao Entertainment To Enrich K-Pop Catalog In China
Portfolio Pulse from Benzinga Newsdesk
NetEase Cloud Music has entered into a licensing agreement with Kakao Entertainment to expand its K-Pop catalog in China. This partnership aims to leverage Kakao Entertainment's extensive catalog and popular artists to attract younger audiences in China, enhancing NetEase Cloud Music's content library.
May 13, 2024 | 7:07 am
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The licensing deal with Kakao Entertainment is expected to enrich NetEase Cloud Music's K-Pop catalog, potentially attracting a larger user base among the younger generation in China and strengthening its position in the music streaming market.
The partnership with Kakao Entertainment directly impacts NetEase Cloud Music by expanding its music library, particularly in the popular K-Pop genre. This strategic move is likely to enhance user engagement and attract new subscribers, especially among the younger demographic in China, which is a key market for K-Pop. The deal signifies NetEase's commitment to strengthening its music streaming service and could positively influence its market share and revenue in the short term.
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