NetEase Cloud Music announced on Wednesday that it has formed a strategic partnership with Linfair Records. The companies will cooperate in regard to music copyrights, artist promotion and other fields.
Founded in 1961, Linfair Records is the largest independent record company in Taiwan with a lengthy roster of renowned singers and musicians. The company has a long history of development, and has released several successful soundtracks for popular Taiwanese idol dramas. The company hosts many popular singers including Angela Zhang, Harlem Yu, Fan Fan, Na Ying and so on.
At present, NetEase Cloud Music has obtained the full music copyright authorization of Linfair Records. In the future, the two companies will give full play to their respective advantages and provide more high-quality music for Chinese listeners while helping to promote the development of Chinese music.
NetEase Cloud Music is the most popular music platform for the younger generation in China. Its unique music community is seen to efficiently promote new music while enhancing the interaction between singers of Linfair Records and their young fans. By 2021, the MAU of NetEase Cloud Music had reached 183 million, and over 90% of the active users were born in the 1990s or early 2000s.
NetEase Cloud Music was successfully listed last year on the Nasdaq in New York. Its net income in the fourth quarter was 1.9 billion yuan ($298.61 million), with a year-on-year increase of 23.9%, while the company’s net income in 2021 was 7 billion yuan. By the end of 2021, the number of independent musicians on the platform exceeded 400,000, and the number of creators on the platform had doubled year-on-year.
NetEase Cloud Music has been developing its strength in the copyright market since the second half of last year. In the fourth quarter of last year, the company successively came to agreements on copyright authorization with five major record companies, including Modern Sky, Hong Kong Emperor Entertainment, China Record Corporation, Rock Forward and Yuehua Entertainment.