Popular Chinese music streaming platform, NetEase Cloud Music announces copyright licensing partnership with Loen Entertainment, a leading entertainment firm in South Korea. With this partnership, NetEase Cloud Music will get license to copyright of the firm’s music catalog, including vats collection of music as well as tracks from popular performers.
Launched in 2013, NetEase Inc. has been the most active music community and one of the largest user-generated content (UGC) platform of China. The music subscription platform had more than 400 million users at the end of 2017. The platform boasted of an utilization rate of 80% of its music library, which is well above the industry average.