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Late last year Chinese tech behemoth ByteDance released a beta version of its upcoming music app, Resso, with the goal of tapping the music streaming market in India and Indonesia.
Hong Kong-based Allsaints Music Group announced on Tuesday that it had raised $60 million in a Series B1 round of financing. CMB International and OPPO led the round, followed by Xiaomi and Huiyou Capital.
NetEase Cloud Music is planning to report to the state regulatory authorities that South Korean company SM Entertainment is refusing to open its music copyright authorization.
NetEase Cloud Music is reportedly in alpha testing of a trading platform for beats, which would make the firm the first in the industry to provide such a service.
The first music app operated by Beijing-based tech giant ByteDance, named "Soda Music," has now begun small-scale testing.
Chinese video game and entertainment company NetEase beat analyst expectations for its first quarter revenues as the company increased its online games revenue with new game launches and further monetized its music streaming app.
Tencent Music Entertainment, China’s dominant online music platform, said on Monday it has signed a deal with Warner Music Group (WMG) to launch a new joint venture record label.
NetEase Cloud Music announced on Wednesday that it has formed a strategic partnership with Linfair Records. The companies will cooperate in regard to music copyrights, artist promotion and other fields.
ByteDance has recently raised the priority level for its music products to P1, on par with its games and education services.
The freemium music streaming platform NetEase Cloud Music was priced at HK $205 ($26.29) per share, the midpoint of the file price range.
Chinese streaming giant Tencent Music Entertainment (TME) confirmed on Tuesday that it is facing heightened scrutiny from antitrust regulators after reporting better-than-expected first quarter financial results the previous day.
NetEase Cloud Music has reached a copyright cooperation with China Record Corporation, launching a large amount of classic music as a result.