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Chinese classical music platform Kuke listed on NYSE

By Ma Si | chinadaily.com.cn | Updated: 2021-01-13 14:02
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The opening bell ceremony of Kuke Music Holding Ltd held in Beijing on Tuesday. [Photo provided to chinadaily.com.cn]

Kuke Music Holding Ltd, which provides classical music licensing, subscription and education services in China, raised $50 million at a price of $10 per American Depositary Share in its initial public offering at the New York Stock Exchange on Tuesday.

Powered by a diverse library of content offerings, Kuke was the largest classical music licensing service provider in China and the second-largest online classical music subscription service provider in the nation in 2019.

Yu He, founder and chairman of Kuke, said from introducing world classical music copyrights to China, to developing classical music subscription services, to promoting intelligent music software and hardware, the company has been working hard to extend the popularity of classical music in China.

Founded in 2006, Kuke licenses its music content primarily to online music entertainment platforms and digital music service providers, as well as film and TV production companies, airlines and smart hardware companies.

As of Sept 30, the company licensed approximately 800,000 tracks of classical music from over 200 music labels to its licensees. Its music subscription service provides users with high-quality online and offline streaming access to its content library, and has 743 institutional subscribers, including 444 universities and music conservatories and 299 public libraries.

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