Chinese social videos app Kuaishou is huge: it has more than 760 million monthly active users, and 305 million daily active users. Now it has licensed music for those people to use.
The company has signed a two-year deal with B2B firm 7digital to provide Kuaishou’s apps with licensed music – not just in China, but globally.
The deal will cover music clips for video uploads, as well as embedding music in existing user-generated content on Kuaishou.
The announcement follows the Chinese company’s recent IPO in Hong Kong, which raised $5.32bn. Kuaishou currently has a market cap of HK$1.26 trillion (around $162.3bn), making it one of the biggest companies in recent memory to strike music licensing deals.
