NetEase’s Cloud Village reaches licensing agreement with South Korea’s YG Entertainment

>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<

Cloud Village Inc, music-streaming unit of NetEase, on Thursday said that it has entered into a licensing agreement for digital music distribution with South Korea’s YG Entertainment Inc, granting NetEase Cloud Music the right to distribute YG Entertainment’s music catalog in China.

Both parties will engage in innovative approaches to unlock more opportunities for YG Entertainment’s vast and influential catalog as well as its artists on the platform, including music by popular K-Pop groups such as BIGBANG and BLACKPINK, and utilize their strengths to expand the music library on NetEase Cloud Music platform to provide more high-quality music content for Chinese music lovers, the company said in a press release.

Founded in 1996, YG Entertainment is one of the largest entertainment management companies in South Korea. It has been at the forefront of the popularization of hip-hop music. It is also the entertainment company with the most hip-hop singers in South Korea. World-renowned artists on its roster include BIGBANG, BLACKPINK, SECHSKIES, AKMU, WINNER, iKON and TREASURE.