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Kuke Music (NYSE: KUKE) Has Gotten Into Smart Music Education Era

By: Get News

April 20, 2021 at 15:34 PM EDT

In the past years, classical music in China has been seen to experience tremendous growth. Mr. Yu He has been instrumental in this change. This is by founding the Beijing Kuke Music Co., Ltd., simply referred to as ‘Kuke Music,’ in 2007. The company aimed to promote classical music in China and make it more available to the general public.

Kuke Music is now among the top providers of classical music in China and has retained high market shares in their various ventures. They have also been able to secure several awards, such as the 2016 Best Music Education Innovation Technology Enterprise Award issued by the Chinese Academy of Sciences. Below is an overview of the Kuke Music business and its products.

On April 15th 2021, Kuke has released its fourth quarter reports and it shows that Kuke Music has new progress on Smart Music Education besides growing its music subscription and licensing business.

Kuke Smart Music Education System

Kuke music has also purposed to impact the world of classical music through education. They have been able to combine smart music technology with their vast Copyright music content to come up with the Kuke Smart Music Education System to serve the needs of the Chinese music education market. Kuke Music began its smart music education business in October 2015 in order to provide smart music education solutions to students and schools throughout China. This has provided a better alternative to the traditional music education system that faced a shortage in terms of music teachers and inconsistent teaching quality.

Ten thousand two hundred students from 1300 kindergartens in various cities across mainland China had enrolled as of September 30, 2020. This was after the placement of about 6,800 smart pianos. At this point, Kuke was also successful in selling over 10,000 smart pianos and 1,900 teaching systems to other educational institutions.

The Kuke Smart Music Education System offers smart music education solutions through Kuke Smart Pianos, Kuke smart teaching systems, and Kukey courses. Sales performance of Kuke smart piano was their primary focus on the onset of their music education business. Through distributors, they were able to supply these pianos to various primary and secondary schools in China. The pianos also came pre-installed with the Kuke Smart Teaching System which provides a wide array of classical music content. On top of this, it is able to track the performance of a student as they practice. It then provides personalized feedback in terms of practice suggestions and guidance programs.

In July 2019, Kuke Music shifted their smart music education business’s focus to offering Kukey Courses. They did this in collaboration with kindergartens by offering beginner-level piano lessons using their smart pianos. Kuke does not charge to place these pianos at the kindergartens. Alternatively, through teachers, they are able to deliver and collect tuition fees from the enrolled students and adopt incentive plans for the distributers to exploit the market share.

Music Subscription and Copyright Licensing Business

In 2006, Kuke Music entered into an agreement with Naxos Music group, the largest independent label for classical music, with which they went ahead to establish a joint venture company-Naxos China in 2016. They have since been able to work closely together in terms of artists management and commercial music licensing. This, together with their other efforts in content acquisition, Kuke Music has been able to build a vast music content library. In 2019, the Kuke Music Digital Library was regarded as the most extensive classical music library in China. According to Frost & Sullivan, they had up to 1.8 million music tracks in variety from traditional classical music to jazz, world, and folk, film music and among other music genres by the year of 2020.

With a varied and endowed music library, Kuke Music has become a primary music licensing service provider in China. Online entertainment music platforms, playbacks, and digital music services such as Tencent Music Entertainment and NetEase Cloud Music have benefited from its licensing services. They also license their music to film and T.V production companies, airlines, and even smart hardware services. From 200 music labels, they were able to license around 800,000 tracks as of September 30, 2020.

Kuke Music is also a top music subscription service platform. They provide their users with quality streaming access to their music library, both offline and online. This can be done through their website, mobile app as well as smart music devices. The education and professional sector have benefited the most from their content. As such, universities, music conservatories, and public libraries from all over China have been seen to subscribe to their service.

Beijing Music Festival Cultural Communication Co., Ltd

Kuke Music has also tapped into the growing interest in the performing arts in China. It did this by acquiring the BMF (the company), which is the designated organizer for the Beijing Music Festival, a world-famous music festival, and other classical music events in China.

Since its establishment in1998, BMF has played a big part in enabling Chinese audience to enjoy live performances from world-renowned classical musicians and orchestras. Kuke Music has continued to make this a possibility by inviting various local and foreign musicians and performance groups to participate in the festival. It is also considered as the “Salzburg Festival” in China.

Conclusion

By providing licensing and subscription services, a smart music education system and solutions, and organizing an international music festival, Kuke Music has enabled to penetrate the Chinese Market to access classical music in a convenient and affordable way. They have utilized their rich content library and modern technology to bring new meaning and enthusiasm to classical music and convey new value into education.

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Kuke Music (NYSE: KUKE) Has Gotten Into Smart Music Education Era

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