NetEase Cloud Music Obtains More Music Copyright, Reaching Cooperation with Fenghua Qiushi
On Tuesday, NetEase Cloud Music announced that it has reached a strategic cooperation agreement with Fenghua Qiushi, a well-known Chinese music company. At present, NetEase Cloud Music has obtained the copyright authorization for all of Fenghua Qiushi’s music.
Fenghua Qiushi owns the copyright of many musicians and bands, including Black Panther Band, Hulu Boyz, Hao Yun, and Lu Han. Among them, Black Panther Band is the oldest and most famous rock band in China, whose masterpieces include Who Are We, Everything is the Best Arrangement, Restart, and so on. Hao Yun is also a rock singer whose works include Alive and Sunny.
Recently, NetEase Cloud has also reached cooperation with Modern Sky Emperor Entertainment (Hong Kong) Limited and China Record Corporation in music copyright. Among them, Modern Sky includes bands and musicians covered by NetEase Cloud, such as New Pants, WuTiaoRen, Omnipotent Youth Society, and Jiulian Zhenren. Emperor Entertainment focuses on songs by Hong Kong and Taiwan artists such as Jeff Chang Shin-Che and Charlene Choi, while China Record Corporation mainly includes the works of artists such as Li Guyi and Mei Lanfang.
In addition, NetEase Cloud includes niche content like ACG songs. The independent musicians it hatched also have gradually risen to fame. According to the prospectus disclosed by NetEase Cloud Music on the Hong Kong Stock Exchange (HKEx), there are more than 300,000 registered independent musicians on NetEase Cloud, a net increase of 70,000 compared with 230,000 at the end of 2020. These independent musicians have created 1.4 million pieces of original music works, accounting for 47% of all music streaming media broadcasts on the NetEase Cloud Music Platform.
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Netease Cloud is in the process of listing. In August 2021, NetEase Cloud Music passed the hearing of HKEx, while announcing the suspension of its IPO later based on various factors such as the overall market environment at that time. On November 16, NetEase Cloud Music passed the listing hearing of HKEx, and the co-sponsors were Bank of America Securities, CICC, and Credit Suisse. It intends to start trading in Hong Kong on December 2 and plans to raise HK $3.04 billion – HK $3.52 billion, with a valuation of nearly HK $40 billion after listing.