Japan-based music company Avex Group has reached a new licensing agreement with NetEase Cloud Music
NCM’s deal with Avex (commonly known as Japan’s fourth-largest company), gives it the rights to distribute Avex’s music catalog in China.
Under the terms of the agreement, according to a press release, “both parties will work together to promote the presence of popular J-pop artists and Avex-published content.”
NetEase Cloud Music noted in a press release that it “has been actively expanding its portfolio and expanding partnerships with leading entertainment companies”.
Some of those companies include Modern Sky, Emperor Entertainment Group, China Record Group, Feng Hua Qiu Shi, Yuehua Entertainment, Linfair Records, SM Entertainment, TF Entertainment, YG Entertainment and KAO!INC.
Going forward, NetEase Cloud Music says that it “will pursue further cooperation with upstream copyright holders”.
Founded in 1988, Avex started out as a wholesale business and established its own label, Avex Trax, in 1990.
Since then, Avex has expanded into various fields such as record label, live music performance, animation and filmmaking.
Company extend entered North America in April 2021, led by President Naoki Osada.
MBW report last week NetEase Cloud Music posted a 22.5% year-over-year increase in revenue in the third quarter, which the company attributed to the continued growth of its paid user base.
Revenue for the three months ended September 30 reached 2.36 billion yuan ($331 million), up from 1.92 billion yuan in the same period last year and from 2.19 billion yuan bad in the same period last year. second quarter of year.
In July, NetEase Cloud Music massively increased its K-pop catalog by come in into a licensing agreement for the South Korean-based music company YG Entertainment.
NCM’s deal with YG Entertainment marks the second deal with a South Korean-based entertainment company in two months. In June, NetEase Cloud Music signed a license agreement with K-pop agency SM Entertainment, featured K-Pop artists such as KANGTA, BoA, TVXQ!, SUPER JUNIOR, Girls’ Generation, SHINee, EXO, Red Velvet, NCT and aespa.
June also saw Chinese music company TF Entertainment (Time Fengjun Entertainment) reach an agreement with NCM, as well as its rival Tencent Music Entertainment.Global Music Business
