Warner Chappell Music strikes licensing deal with short-form video platform (and TikTok rival) Kuaishou
Music Warner Chappell (WCM) has signed a new license agreement with short-form video platform Kuaishou.
Headquartered in Beijing, Kuaishou claims to be the second largest short video platform by Average Daily Active User (DAU) and the second largest live streaming e-commerce platform according to Gross Merchandise Volume ( GMV) globally.
Kuaishou reportedly reached over 180 million monthly active users (MAUs) outside of China through overseas versions like Kwai.
It also claims to have become one of the most popular apps in MENA and Latin America, as well as in South and Southeast Asia, where it’s known as SnackVideo.
Under the agreement with Kuaishou, Warner Chappell’s music will be available for use on these platforms, providing what the publisher says is ‘exciting new content for Kuaishou’s user base’.
WCM’s deal with Kuaishou follows news from last August that Warner Music Group (WMG) and Kuaishou have reached a new global licensing agreement.
Kuaishou was launched in 2011 by Su Hua, CEO and Founder of Kuaishou Technology.
In 2019, Tencent is said to be in talks $2 billion lead investment into Kuaishou as part of a $3 billion pre-IPO funding round.
Kuaishou, reported to have over one billion users worldwide as of June 2021, is a company listed on the Hong Kong Stock Exchange under the symbol 1024.HKC.
Kuaishou employs more than 20,000 employees in its offices in China, the United States, Brazil, Indonesia, Egypt, and GCC.
Its most notable investors include DCM Ventures, Morningside Venture Capital, Sequoia Capital, Temasek Holdings, Tencent and Baidu.
“We are very proud to be partnering with the team to bring our catalog of songs to Kwai’s engaged user base and talented music creators.”
Natalie Madaj, Warner Chappell Music
“As the digital ecosystem continues to evolve in exciting new ways, social sharing apps like these,” said Natalie Madaj, Senior Vice President, Global Digital, Warner Chappell Music. Kwai is changing the way people experience and discover music around the world.
“We are proud to partner with the team to bring our catalog of songs to Kwai’s engaged user base and talented music creators.”
Kuaishou Director of Foreign Communications and Partnerships, Calvin Liu, said: “We are always looking to work with creative music companies, and this deal with Warner Chappell will bring millions of users to the company. us access to new music to express ourselves on our Kuaishou platforms.”
Worldwide music business
