NetEase Cloud Music, RYCE Entertainment Sign Strategic Partnership

(RTTNews) - Electronic Gaming & Multimedia company NetEase, Inc. (NTES) announced on Thursday that its unit Cloud Music Inc., an online music platform, has entered into a strategic partnership with RYCE Entertainment to expand its music content library further.

Under the agreement terms, Cloud Music can now access RYCE Entertainment's music catalog in China with 30-day initial launch rights to distribute new additions to the catalog. Both companies will collaborate to promote RYCE Entertainment's prominent artists and music catalog in China.

Cloud Music hosted 189 million monthly active users in 2022.

In pre-market activity, shares of NetEase are trading at $105.94 up 0.94% or $0.99 on Nasdaq.