Warner Music Group Renews Partnership With NetEase Cloud Music
Complete. Here is the key summaryWarner Music Group renewed its licensing agreement with NetEase Cloud Music to deepen their partnership. The deal expands opportunities for Warner's artists in China and enhances user engagement on NetEase's platform, including multimedia content collaboration beyond audio streaming. Following the announcement, NetEase's stock rose 2.14% to HKD 119.50.
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Thursday, Warner Music Group, a multinational entertainment and record label company, announced the renewal of licensing agreement with NetEase Cloud Music Inc. (9899.HK), an interactive music streaming service provider in China.
The renewed agreement aims to deepen the long-standing partnership between the two companies, multiplying opportunities in China for Warner's artists and songwriters and offering NetEase Cloud Music's highly engaged user base new and enhanced ways of engaging with their music.
Also, the partnership will focus on multimedia content collaboration beyond audio streaming.
NetEase's stock closed trading at HKD119.50, up 2.14 percent on the Hong Kong Stock Exchange.
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