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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).

Creative Industries

Music deals — Week 14, 2024

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Here is a list of some of the main music deals announced in the past week:

Rock band KISS have signed an agreement with Pophouse which will give the Swedish entertainment and music investment firm ownership of KISS’ artist share of the master recordings and publishing rights. Financial terms of the transaction were not being disclosed but AP estimated that the deal was “over $300 million.” The transaction is subject to certain conditions and regulatory approvals. “Working closely with...

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Creative Industries

Quotes of the week — Week 14, 2024

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"Music makers already know what music lovers are just now learning: TikTok is the worst, most exploitative streaming platform for music, anywhere (and that’s saying something). The vast majority of music on TikTok generates virtually no revenue for the musicians who made it, and even more music on the platform is completely unlicensed (stolen), copied (stolen via AI), or pirated (stolen). Simply put, TikTok is trying to build a music-based business without paying music makers fair value for the...

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Creative Industries

Key figures — Week 14, 2024

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43.2 billion

That's the total number of times the songs in Spotify's list of “the 100 greatest R&B songs of the streaming era“ have been streamed on the platform since 2015, according to MusicAlly.

$40 billion

That's the EBITDA posted by TikTok parent ByteDance in 2023, out of a turnover of over $120bn, according to a Bloomberg report.

$2.9 billion

That's how much France's pay-TV company Canal+, part of Vivendi, is offering to acquire African broadcaster MultiChoice...

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