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Digital Economy

NetEase plans to raise $1bn by floating its Cloud Village subsidiary in Hong Kong

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China's online gaming and music giant NetEase announced on May 26 plans to list its 62.46%-owned Cloud Village subsidiary in the Hong Kong Stock Exchange. The company is looking to raise $1bn in the process.

Upon completion of the proposed spin-off, NetEase will retain "not less than 50% of voting rights of Cloud Village and therefore Cloud Village will remain as a subsidiary of the Company," according to a statement from the company. It added that the listing "would enable investors to ...

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Emmanuel is a Washington, DC-based freelance journalist, blogger and media consultant, specialising in the entertainment business and cultural trends. He was the US editor for British music industry trade publication Music Week. Previously, he was the editor of Impact, a magazine for the music publishing community (2007-2009), the global editor of US trade publication Billboard (2003-2006), and the editor in chief of Billboard’s sister publication Music & Media (1997-2003).

Digital Economy

YouTube TV increases monthly subscription fee to $72.99, due to rising content costs

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Alphabet-owned YouTube TV is increasing its monthly subscription fee in the USA from $64.99 to $72.99 a month for the basic package, which offers access to over 100 channels. The new subscription fees will be operational from April.

The rise is due, according to YouTube, to an increase in content costs. “As content costs have risen and we continue to invest in the quality of our service, we are updating our price to keep bringing you the best possible service,” said YouTube parent Google in ...

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Creative Industries

Music deals — Week 11, 2023

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Below are the main music deals announced in the past week.

London-based independent record company Chrysalis Records, part of the Reservoir group of companies, has signed a new agreement with SecretlyDistribution, part of SecretlyGroup. The deal covers physical and digital global distribution for the label’s frontline releases. Future projects include new recordings from LauraMarling, EmeliSandé, BenHarper, William The Conqueror, TheWanderingHearts, and new signings Marika Hackman &a...

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Creative Industries

Quotes of the day — Week 11, 2023

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“I am delighted to join the board of Salt and to work with this prestigious team to bring the transparency and accuracy to the industry that we have all waited so long to achieve.”By Bjorn Ulvaeus, co-Founder of music data company Session, following news that it had been acquired by SAAS company Salt, and that he would become a member of the Salt board. 

“It feels like the business is getting healthier by the moment. Audiences are showing up for different types of movies, not just super...

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