Cube Entertainment announced today, June 2nd, that it has signed a 7.5 billion won contract with NetEase Music, a Chinese agency for a license for exclusive music content and a joint promotion contract with artists from Cube Entertainment.
NetEase Music is the main online music platform in China, which has around 900 million music users, and is known to have a strategy on Korean artists. NetEase Music is also a music and entertainment company of the Chinese group NetEase which shares the Chinese music market with Tencent Music.
In particular, the contract is expected to play a major role in the full entry of Cube Entertainment artists into the Chinese market in the future, as it contains a strategic partnership to strengthen the promotion of Cube Entertainment artists in China, not only from the music supply.
Ahn Woo Hyung, CEO of Cube Entertainment, said: “The contract is more meaningful in the strategic partnership between the two companies than in the mere exclusive supply of music sources, and NetEase Music also promises full support, placing high hopes on future artists, promotions and joint development of intellectual property. In the future, we plan to continue follow-up contracts with artists. “
Journalist: Shawn
Translator: Shawn
Source: Cube Entertainment
