NetEase Inc‘s (NASDAQ:NTES) Cloud Music Inc. inked a deal with RYCE Entertainment to boost its music content library.
NetEase 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 partner to promote RYCE’s prominent artists and music catalog in China.
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NetEase Cloud Music has earlier partnered with several prominent companies globally, with the recent being partnerships with Rock Records and B’in Music to enhance its portfolio of C-pop music and other popular genres.
As of March 31, NetEase held $13.9 billion in cash and equivalents and generated $873.8 million in operating cash flow.
In June, the company debuted the collectible card role-playing game “Harry Potter: Magic Awakened,” which it launched with Warner Bros. Games.
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Price Action: NTES shares are trading higher by 0.81% at $105.80 premarket on the last check Friday.
