NetEase, Alibaba Harmonize With Music Swap
Chinese music-streaming platforms NetEase Music and Ali Music Group signed an agreement this week to swap music copyrights, in a move that market-watchers said could further squeeze out smaller operators.
NetEase Music, under online game operator NetEase Inc., and Ali Music, owned by e-commerce giant Alibaba Group Holding Ltd., reached a deal Tuesday that will enlarge the music pool for both platforms, they said. The companies didn’t specify whether the agreement entails a full or partial swap of the copyrighted material.
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