Baidu leads new round of financing for Netease Music
Partners vow to carry out greater cooperation with regard to content, traffic flow and copyright
Internet search giant Baidu announced that it will lead a new round of investment for NetEase Cloud Music, the Chinese equivalent of Spotify, The Paper reported.
Without disclosing the amount, the two partners said they will carry out greater cooperation with regard to content, traffic flow and copyright.
For example, the content on the music platform will be more extensively searched by hundreds of millions of users via the Baidu app.
In addition, the strategic cooperation between the two sides will take the lead in the field of intelligent hardware.
Netease will connect to the DuerOS platform and use Baidu’s AI technology to create innovative music service experiences for users in different scenarios.
This is considered to be part of Baidu’s effort to invest in “content.” From 2017 onward, Baidu has increased its shares of Baidu Video and Zongheng Literature, and strategically invested in a series of content industry companies, such as Qingting FM and Renren Video.