Chinese streaming service NetEase Cloud Music has staved off the prospect of losing a large chunk of its K-Pop catalogue. The company’s deal with South Korean firm SM Entertainment expires on 31 January, and the two companies have seemingly been struggling to reach a new agreement.
“NetEase Cloud Music had issued a somber notice to fans warning that SM Entertainment’s unilateral decision to not renew the copyright could result in the removal of all its songs from the streaming service,” is how the DSP explained the situation in an announcement this morning.
However, that announcement also confirmed a bridging deal to keep the music on its platform for a little longer. “The breakthrough agreement will keep the South Korean company’s music catalog available to fans past the impending January 31 deadline, allowing for extended negotiations,” said NCM, which is hoping this will be the springboard for a “longer-term and more stable copyright cooperation”.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source musically.com ’
