It has been reported today (August 31) that Warner Music Group (WMG) and China-based short-form video platform Kuaishou have entered into a new global licensing deal which will allow WMG to make its artists’ music available on all Kuaishou’s platforms including Kwai and SnackVideo. The deal follows news that WMG's streaming revenue was up 27% in fiscal Q3.
Kuaishou has more than one billion users worldwide – a milestone it hit in June 2021 – and encourages its users to share activities, habits and more. It’s monthly active users has reached over 180 million outside of China, including its apps Kwai in Latin America, and Mena and SnackVideo in South and Southeast Asia.
On the news, chief digital officer & EVP of business development for WMG, Oana Ruxandra, 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.”
Head of Kuaishou international business, Kuaishou, Tony Qiu, added: “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.”