According to reports in Chinese local media, NetEase Cloud Music and Alibaba's 88VIP recently announced strategic cooperation.
At present, NetEase Cloud Music's vinyl VIP annual membership has formally joined 88VIP's annual ecological benefit package. In the future, the two parties will jointly seek more in-depth cooperation contents.
This is the first time for NetEase Cloud Music to reach strategic cooperation with Alibaba's business and NetEase Cloud Music also becomes the first non-Alibaba Internet product to join hands with 88VIP. It is said that NetEase Cloud Music will implement more cooperation with Alibaba in film and television announcement and performance ticketing in the future.
In September 2019, NetEase Cloud Music gained total investments of USD700 million with Alibaba as the leading investor. At that time, Alibaba's CEO Zhang Yong said that they were glad to participate in the development of NetEase Cloud Music and hoped the two parties could have more chemical reactions in the culture and entertainment sector in the future.