Warner Music Group (WMG) and China-based short-form video platform (and ByteDance rival) Kuaishou have struck a new global licensing deal.
The agreement will see WMG make its artists’ music available on all of Kuaishou’s overseas products including apps Kwai and SnackVideo.
Kuaishou reports to have hit a major milestone in June 2021 by amassing over one billion users worldwide.
Additionally, Kuaishou’s monthly active users (MAUs) reached more than 180 million outside of China.
Kuaishou is listed company on the Hong Kong Stock Exchange under the symbol 1024.HK.
In 2019, Tencent was reportedly negotiating a $2bn lead investment into Kuaishou as part of a $3 billion-pre-IPO funding round.
Kuaishou was launched in 2011 by Su Hua, CEO and founder of Kuaishou Technology.
According to Kuaishou, both Kwai in Latin America and MENA and SnackVideo in South and Southeast Asia have become “some of the most popular apps in the regions”.
“As WMG’s universe of social partners grows, so too does our artists’ reach and impact.”
Oana Ruxandra, WMG
Oana Ruxandra, Chief Digital Officer & EVP of Business Development, WMG, said: “We’re excited to bring our diverse music catalog to Kuaishou’s passionate and creative global community.
“As WMG’s universe of social partners grows, so too does our artists’ reach and impact.”
“The partnership with WMG allows us to provide a wide range of fantastic music for our creators and users.”
Tony Qiu, Kuaishou
Tony Qiu, Head of Kuaishou International Business, Kuaishou, said: “The partnership with WMG allows us to provide a wide range of fantastic music for our creators and users and is part of our commitment to provide fun, diverse, and authentic content to our global community.”Music Business Worldwide