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NETEASE MUSIC May Remove All Songs at End-Jan as S Korea's SM Entertainment Unilaterally Refuses to Renew Contract
Due to the unilateral notice of non-renewal of contract from the copyright owner, South Korea's SM Entertainment, it is likely that NETEASE MUSIC (09899.HK) will have to remove...
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NETEASE MUSIC May Remove All Songs at End-Jan as S Korea's SM Entertainment Unilaterally Refuses to Renew Contract
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Due to the unilateral notice of non-renewal of contract from the copyright owner, South Korea's SM Entertainment, it is likely that NETEASE MUSIC (09899.HK)  -3.700 (-3.028%)    Short selling $2.10M; Ratio 15.217%   will have to remove all of SM Entertainment's songs on 31 January, which it deeply regrets and is reluctant to do so, NETEASE MUSIC said.

SM Entertainment entered into a strategic cooperation agreement with TME-SW (01698.HK)  +0.200 (+0.444%)    Short selling $81.59K; Ratio 14.176%   (TME.US)      in early 2019, and the relevant songs were then taken down from the NetEase Cloud Music platform.

It was rumored that NETEASE MUSIC intended to report to the state regulatory authorities to complain about SM Entertainment's refusal to open music copyright licenses, which involved an “pick one out of two” monopoly. The two parties subsequently resumed the copyright cooperation in June 2022.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-01-28 12:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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