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NetEase Cloud Music Took a Stake in Music Publishing Startup NetEase Cloud Music invested in an upstream startup.

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admin 2019-10-09 Collect

On September 29, Netease Cloud Music has invested in music publishing startup Hangzhou Huayin Yueting (华音悦听) Culture and Communication Co., Ltd.

NetEase invested 600,000 RMB in exchange for a 20% stake in the company. Huayin Yueting was founded in 2018. In addition to music publishing, Huayin Yueting also has a music production business.

Earlier in September, Netease Cloud Music received a total of 700 million US dollars in financing from Alibaba. This move might be an effort to compete with TME on the copyright front.

 

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