NetEase's Cloud Music Pens Deal With RYCE Entertainment To Boost Content Library
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.
See Also: What 29 Analyst Ratings Have To Save About Spotify
NetEase Cloud Music has previously partnered with several other prominent companies, including Rock Records and B'in Music, to enhance its portfolio of C-pop music and other popular genres.
In June, the company debuted the collectible card role-playing game "Harry Potter: Magic Awakened," which it launched with Warner Bros. Games.
As of March 31, NetEase held $13.9 billion in cash and equivalents and generated $873.8 million in operating cash flow.
Price Action: NTES shares are trading higher by 0.81% at $105.80 premarket on the last check Friday.
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