HANGZHOU, China, June 20, 2022 /PRNewswire/ -- Cloud Village Inc. (HKEX: 9899, "NetEase Cloud Music" or the "Company"), a leading interactive music streaming service provider in China, today announced that it has signed a music licensing agreement (the "Agreement") with Beijing Time Fengjun Culture and Entertainment Development Co., Ltd. ("TF Entertainment"), enriching the Company's growing portfolio of music services and reinforcing its presence among the younger generation.
Under terms of the Agreement, NetEase Cloud Music is authorized to use a wide range of TF Entertainment's catalog, introducing more quality music from artists such as TFBOYS, TNT (Teens in Times), and TF Family. Through the cooperation, both parties will also jointly work to promote artists by leveraging their respective networks, and forging deep partnerships across the entertainment industry. TF Entertainment is one of China's leading entertainment groups which focus on developing and training idols that resonate with younger generation.
As one of China's leading online music platforms, the unique music community atmosphere, highly interactive user base and strong user stickiness has made NetEase Cloud Music a preferred destination for young Chinese users. By leveraging the Company's content, innovative technology, and popularity among its thriving fanbase, the TFBOYS "Daylight Travel" 7th Anniversary Concert held on its platform in August 2020 attracted 786,000 peak concurrent viewers, setting the record title for "the most live viewers for a pay per view music concert on a bespoke platform." The concert's success demonstrates NetEase Cloud Music's continual innovation and connection among its younger user base, as well as its ability to bring quality music experiences and exciting content to this important constituency in an evolving digital era.
Established in 2009, TF Entertainment has been focusing on talent development. Among its popular artists, TFBOYS is one of TF Entertainment's most popular idol groups, which consists of three members: Karry Wang, Roy Wang and Jackson Yee. Debuting in 2013, the boy band quickly became a Chinese pop-culture sensation. Following this success, the seven-member boy group Teens in Times (TNT) hit the music scene in 2019 and gained widespread popularity and reached mainstream media status. TF Entertainment-developed artists also include TF Family and more.
NetEase Cloud Music has been actively expanding its copyright partnerships through various cooperation with more music copyright owners to further enrich its vast content offering across a wide array of genres. Devoted to further diversifying the platform's content library, NetEase Cloud Music caters to diverse and evolving audience tastes with a mission to bring more quality content to music enthusiasts in China.
About Cloud Village Inc.
Launched in 2013 by NetEase, Inc. (NASDAQ: NTES; HKEX: 9999), Cloud Village Inc. (HKEX: 9899) is a leading interactive music streaming service provider in China. Dedicated to providing an elevated user experience, Cloud Village 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 Village 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.
Cloud Village Inc.
Source: NetEase Cloud Music Related Stocks: HongKong:9899 HongKong:9999 NASDAQ:NTES
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