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NetEase Cloud Music expands Korean entertainment library with new partnership

NetEase Cloud Music, one of the major music streaming platforms from China, has announced a content deal with South Korea’s CUBE Entertainment. Under this terms of this partnership, NetEase will receive access to the complete CUBE music catalog, which includes the library of popular Korean performers such as BTOB and CLC. Continue Reading

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Tencent Music reportedly eyeing an IPO in the United States

Tencent Music appears to be moving forward with plans for an IPO in the United States later this year. The Wall Street Journal (paywall) reported that Tencent Music will start interviewing underwriting banks over the next month. Sources predicted that the company could be valued at $25 billion on a U.S. stock exchange, which would make it the fourth-largest tech IPO in the country. Continue Reading

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Spotlight on China: How long will Tencent stay in control?

China is in position to be the next center of international music deals, according to a profile in the Financial Times (paywall). The publication cited data from iResearch claiming that China could see its paid online music market grow 59% this year, reaching about 3 billion renminbi ($455 million). Tencent was responsible for 78% of the Chinese market in 2016, and that dominance has allowed the conglomerate to secure licensing and copyright deals with several of the larger western music businesses. Continue Reading