BEIJING, Feb. 27,
2023 /PRNewswire/ -- Kuke Music Holding Limited
("Kuke" or the "Company") (NYSE: KUKE), a leading classical music
service platform in China with 3
million audio and video music tracks, announced that Sony Select,
one of the most influential Hi-Res music services, has extended its
agreement with the Company's subsidiary Naxos China (a JV company
between Kuke and Naxos), giving music enthusiasts and audiophiles
instant access to the professional high-res classical music
catalogues.
Under the agreement, Naxos China will continue licensing its
extensive library of high-resolution (high-res) classical music
catalogue to Sony Select, providing its users with an immersive and
superior listening experience. Naxos China boasts its diverse
high-res music catalogue for both its quantity and quality,
comprised of classical, jazz and world music, as well as
award-winning recordings that represents the highest standard of
the industry.
High-res music apps are digital music streaming services that
offer high-quality, uncompressed, and lossless music files, which
are typically in a higher resolution than standard music files.
These apps allow users to stream or download high-quality audio
files, providing a superior listening experience compared to
traditional audio formats. They provide listeners with a more
immersive, high-fidelity listening experience, allowing them to
hear more detail and clarity in the music.
Mr. He Yu, Chief Executive Officer of Kuke Music Holding
Limited, commented, "We are pleased to continue our agreement with
Sony Select, one of our long-term and most important licensing
clients. This is another important strategic opportunity for us as
we benefit from being aligned with industry leaders across the
entire music ecosystem from creation to consumption. In the case of
Sony Select, the platform has already established an impressive
leadership position for its high-res app, which is viewed as a
must-have for audiophiles and music enthusiasts. Both of our
companies share in the commitment to providing superior quality
audio tracks to our users. In addition, as Sony Select continues to
expand its popular high-res music app in new online and offline
usage scenarios, it can generate incremental revenue for Sony
Select as well as its content providers, Naxos China included."
Mr. He Yu, Chief Executive Officer of Kuke Music Holding
Limited, continued, "High-res music apps continue to gain paid
users worldwide by offering improved audio quality, a better
listening experience, and more choice. At the same time, music
enthusiasts and audiophiles benefit from future-proofing their
music libraries with a high-res music app, to ensure access to the
best audio quality available. Overall, high-resolution music, like
that of provided by Naxos China, and leading high-res apps, like
Sony Select, are great choices for anyone who wants to enjoy the
best possible sound quality and get the most out of their music
listening experience."
About Kuke Music Holding Limited (NYSE: KUKE)
Kuke is a leading classical music service platform in
China encompassing the entire
value chain from content provision to music learning services, with
approximately 3 million audio and video music tracks. By
collaborating with its strategic global business partner Naxos, the
largest independent classical music content provider in the world,
the foundation of Kuke's extensive classical music content library
is its unparalleled access to more than 900 top-tier labels and
record companies. Leveraging its market leadership in international
copyrighted classical music content, Kuke provides highly scalable
classical music licensing services to various online music
platforms, and classical music subscription services to over 800
universities, libraries and other institutions across China. In
addition, it has hosted Beijing Music Festival ("BMF"), the most
renowned music festival in China, for 24 consecutive years. Through
KUKEY, the Company's proprietary smart music learning solutions,
Kuke aims to democratize music learning via technological
innovation, bring fascinating music content and professional music
techniques to more students, and continuously improve the
efficiency and penetration of music learning in China. For more
information about Kuke, please visit https://ir.kuke.com/
Forward-looking Statements
This announcement contains forward looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "aims," "future," "intends,"
"plans," "believes," "estimates," "confident," "potential,"
"continue" or other similar expressions. Statements that are not
historical facts, including but not limited to statements about
Kuke's beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including those in Kuke's registration statement filed
with the Securities and Exchange Commission. Further information
regarding these and other risks is included in Kuke's filings with
the SEC. All information provided in this press release is as of
the date of this press release, and Kuke undertakes no obligation
to update any forward-looking statement, except as required under
applicable law.
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SOURCE Kuke Music Holding Limited