Sony's Music Service Sony Select Extends Hi-Res Music Services Deal With Kuke Music's Naxos China

  • Sony Group Corp's SONY high-resolution music services Sony Select extended its agreement with Kuke Music Holding Limited KUKE subsidiary Naxos China.
  • The deal offered music enthusiasts and audiophiles instant access to professional high-res classical music catalogs.
  • The financial terms of the deal remained undisclosed.
  • Naxos China will continue licensing its extensive library of high-resolution (high-res) classical music catalog to Sony Select, providing its users with an immersive and superior listening experience.
  • He Yu, Chief Executive Officer of Kuke Music Holding Limited, commented, "We are pleased to continue our agreement with Sony Select, one of our long-term and most important licensing clients. This is another important strategic opportunity for us as we benefit from being aligned with industry leaders across the entire music ecosystem from creation to consumption." 
  • "In the case of Sony Select, the platform has already established an impressive leadership position for its high-res app, which is viewed as a must-have for audiophiles and music enthusiasts. Both of our companies share in the commitment to providing superior-quality audio tracks to our users."
  • "In addition, as Sony Select continues to expand its popular high-res music app in new online and offline usage scenarios, it can generate incremental revenue for Sony Select as well as its content providers, Naxos China included."
  • Price Action: KUKE shares traded lower by 11.50% at $0.85 on the last check Monday.
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