Netease's Cloud Music Streaming Service Files to Go Public in Hong
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Bulletin YOUR DAILY ENTERTAINMENT NEWS UPDATE MAY 26, 2021 Page 1 of 27 INSIDE NetEase’s Cloud Music • Recording Streaming Service Files to Academy Announces More Grammy Rule Go Public in Hong Kong Changes Affecting Album of the Year, BY DAN RYS Dance/Electronic Music & More Chinese media, gaming and technology conglomer- versal Music, expanding its catalog significantly at a • Inside Spotify’s ate NetEase filed paperwork Wednesday (May 26) time when Tencent, its biggest rival, is facing regula- New Fresh Finds announcing its intention to spin off its Cloud Village tory scrutiny in China over its market dominance Program For Indie wing — which houses its music streaming service, and exclusive deals with artists and labels. Reports Artist Development NetEase Cloud Music — in an initial public offering on suggest that regulators could force TME to offload • Suzee Ikeda Went the Hong Kong Stock Exchange. If the proposal goes two of its music streaming services and pay a hefty From Motown Artist through, NetEase intends to maintain more than 50% fine. Tencent’s music services claimed 615 million to Exec, Guiding of the voting rights in the resulting company, meaning active users in the first quarter of 2021 and 61 million Michael Jackson’s that Cloud Village will remain a NetEase subsidiary paying users, according to its financial filings. Early Career moving forward. The NetEase announcement also arrives at a time • Texas Concert NetEase Cloud Music is a major competitor to Ten- of significant growth in the Chinese music market. Venues to Receive cent’s various streaming services in China, and claims Streaming in the country, which is the seventh-largest $100,000 Annual more than 180 million monthly active users and 16 mil- music market in the world, grew 34% to $718.1 million Rebates lion paid subscribers as of the end of 2020, according to in 2020, according to the IFPI. Globally, streaming • How Does Mexican the company. A Bloomberg report on the proposal sug- revenues grew 19.9% in 2020 over the year before, Singer-Songwriter gests that NetEase could raise $1 billion with the IPO. according to the IFPI, reaching $13.4 billion and Carla Morrison Stay The timing of the proposal comes at a significant accounting for 62.1% of total revenue for the global Mindful? juncture for NetEase, which is expecting its music recorded-music business. streaming service to “undergo relatively rapid busi- Further details of the spinoff, including the number ness expansion” moving forward. Earlier this month, of shares and the price at which it would be offered, • BILLBOARD 200 NetEase signed a first-ever digital distribution deal have yet to be finalized. CLICK HERE with Sony Music, following a similar deal with Uni- (continued) TOTAL IMMERSION ESSENTIAL ANALYSIS of the latest business topics and trends formulated to give industry players the competitive advantage in a rapidly changing market. EXCLUSIVE QUARTERLY REPORTS that deliver in-depth, holistic reporting; case studies; and custom data designed to serve the industry. A DEEP DIVE LIBRARY stocked with intelligence on fan data, SUBSCRIBE TO BILLBOARD PRO FOR song catalog sales, TV synchs, Africa’s burgeoning music ACCESS TO NEW REPORTS business and the gaming industry’s embrace of artists. AND THE ARCHIVE 2021 PRIDE On June 5th, Billboard will publish its 3rd annual CONTACTS Pride issue honoring culturally moving and Joe Maimone influential people who have contributed to the 201.301.5933 | [email protected] community’s history and its current landscape. Lee Ann Photoglo Year-round Billboard and Rolling Stone celebrate 615.376.7931 | [email protected] the LGBTQIA+ community through the lens of music, amplifying the culture of the proud Cynthia Mellow LGBTQIA+ community across our editorial 615.352,0265 | [email protected] channels, including Billboard Pride. Marcia Olival 786.586.4901 | [email protected] Building on this platform, Billboard and Rolling Stone will be joining together for the entire month Ryan O’Donnell +447843437176 | [email protected] of June to celebrate love, acceptance, diversity and what it means to be queer in music. All month long, Billboard and Rolling Stone will be the go-to destination for music and entertainment Pride content. Leveraging our iconic voices within music and culture, Billboard and Rolling Stone will curate a mix of engaging video and social content featuring thought-provoking panels, heartfelt performances, and glam tutorials – all fostering a community of consumers and influencers in celebration of LGBTQIA+. ISSUE DATE 6/5 | AD CLOSE 5/26 | MATERIALS DUE 5/27 BB House_Pride_06_042421.indd 1 4/21/21 10:00 AM Page 3 of 27 IN BRIEF effect for the 64th annual Grammy Awards, finalists this year. So under the upcoming Recording set for Jan. 31, 2022. That change, appropri- rules, each would have had two album of the ately, is listed last in this report. year nominations, without being the lead Academy Here’s a summary of approved rule artist on either album. Neat trick. changes which go into effect immediately: On Grammy night, March 14, album of Announces More Album of the year: Expanding eligibil- the year was presented to three producers ity of Folklore – Jack Antonoff, Aaron Dess- Grammy Rule Moving forward, if an album is up for ner and Swift. In late April, the Academy album of the year, all credited featured art- named a fourth producer winner, Joe Changes Affecting ists, songwriters of new material, producers, Alwyn, who is credited as a co-producer of recording engineers, mixers and mastering six of the 16 songs on Swift’s album. Under Album of the Year, engineers who worked on that album are the new rules, the Academy won’t have to do automatically nominated. Previously, the the math to make sure a participant meets Dance/Electronic rule stated that all of these pros had to be the 30% threshold. If they’re credited on the credited with 33 percent or more of playing album in one or more of these capacities, Music & More time to be nominated. and the album is nominated for album of the This is a retreat on the Academy’s year, they’re nominated. BY PAUL GREIN part. Colbie Caillat received a Grammy Dance/electronic field: A renamed and for album of the year because she was redefined category he Recording Academy announced featured on one track (“Breathe”) on Tay- The category formerly known as best several changes to its awards and lor Swift’s Fearless, the 2009 album of the dance recording has been renamed best nominations process on Wednes- year winner. The Grammys subsequently dance/electronic recording. This brings day (May 26). These changes tightened up their rules to make Grammys a this category in line with the corresponding Taffect album of the year and these four fields little harder to get. They now are going back album category, which has long been called — dance/electronic music, classical, music to their old ways. best dance/electronic album. Kaytrana- for visual media and music video/film. This past year, two album of the year da won in both of these categories at the These are on top of the changes an- nominees – Post Malone’s Hollywood’s 63rd annual Grammy Awards. nounced last month, which included an end Bleeding and Jacob Collier’s Djesse Vol. Best dance/electronic recording is to nomination review committees, a reduc- 3 – each had 10 credited featured artists. An- intended for recordings with significant tion in the number of categories in which other nominee, Jhené Aiko’s Chilombo, was electronic-based instrumentation gener- members may vote and the addition of two just a beat behind, with nine. Swift’s Folk- ally based around a rhythmic dance beat. new categories — best global music perfor- lore, the winner, had one, Bon Iver. The screening criteria includes established mance and best música urbana album. Two artists – Future and Ty Dolla $ign – dance and electronic recording genres as All but one of these changes will go into were each featured on two album of the year well as related emerging genres. AUTHORITATIVE INTELLIGENCE. DELIVERED DIGITALLY. CLICK HERE FOR FREE DELIVERY DIGITAL NEWSLETTERS 2 0 2 1 INDIE L A B E L P O W E R P L AY E R S On June 5th, Billboard will publish CONTACTS its fourth annual Indie Label Power Joe Maimone Players List. This special feature in 201.301.5933 | [email protected] advance of Indie Week (6/14-6/17) and Lee Ann Photoglo the 10th Anniversary Libera Awards will 615.376.7931 | [email protected] profile leading executives at top independent record labels, publishing Cynthia Mellow companies and distribution companies. 615.352,0265 | [email protected] Positioning themselves as the driving force Marcia Olival behind the success of independent music, 786.586.4901 | [email protected] these executives contribute to the independent music sector and to the Ryan O’Donnell +447843437176 | [email protected] world of music at large. Take this opportunity to advertise and congratulate this year’s 2020 Indie Label Power Players. ISSUE DATE 6/5 | AD CLOSE 5/26 | MATERIALS DUE 5/27 BILLBOARD COUNTRY UPDATE APRIL 13, 2020 | PAGE Page 4 5OF of 1927 ON THE CHARTS JIM ASKER [email protected] IN BRIEF SamHunt’s Southside Rules Top Country ClassicalAlbu field:ms; Singles Brett are now allowed Young is eligible” ‘Catc rule. h’-es Fifthstances, Airplay an appeal for a possible fourth [pro- in five classical categories Here’s that rule, by the way, straight from ducer] nomination will be considered.”) An Singles thatLea are notder; part of an Travis album will theDenning Grammy rule book: Makes“A track or single Historyengineer/mixer(s) who works on more than now be eligible in five classical categories from a previous year’s album is eligible 50 percent playing time of newly recorded — best orchestral performance, best choral in the general [Big Four], pop, dance/ material can also be awarded.