Last week, Taiwanese record label HIM International Music released a statement saying that the licensing agreement between the company and Xiami Music has been outdated, and the counterparts were not renewing the partnership. Instead, HIM said that it has already reached a new agreement with Netease Cloud Music, which now is a Top 3 music streaming service in China.
HIM, owns some of the most influential artists in both Taiwan and China mainland, is the biggest native record label in Taiwan. As to Netease Cloud Music, it’s another big move after this February when National Copyright Administration (NCA) interfered into the beef between Netease and TME, and eventually pushed them forward to an agreement. With that deal, TME agreed to authorize some tracks it held to Netease, and opened the auth to other third parties. Now with the new deal, Netease would have more tracks than ever, and its ability to compete would be strengthened without doubt.
In November, Netease said that it’d reached the 400 million users, and its data keeps boosting after that. Based on a report from third party research agency Questmobile, its Retention Rates in 30 days topped others in the whole industry in January. Also, Netease Cloud Music is a Top 10 App among top-tier cities, and the Number 1 App among second-tier cities.
Launched in 1999, HIM nowadays is the biggest label in Taiwan. At the turn of the century, HIM signed with S.H.E, which turned out as one of the most popular female groups in China. Since then, HIM has been like a superstars-making machine, and artists like Yoga Lin keep setting the whole industry off constantly.
As to HIM, the deal means a lot too.
Firstly, HIM needs a qualified partner to promote itself, which especially is important when it comes to the promotion of new artists. With the 400 millions users and various data, Netease Cloud Music could help HIM find and match its targeting users based on different needs, and then convert them into potential customers. Meanwhile, HIM can bid a better price for itself as soon as the current deal expires.
Still, the partnership isn’t only limited to copyrights. According to the joint statement, the two parties also would conduct in-dept cooperation. Earlier last year, Netease Cloud Music launched a project to help indie artists promote their works. With the new partnership, this company could get more mature experience on artists development.
In brief, this deal is good for both parties.
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