Online Music and Music Video Platform Yinyuetai Wins USD 35 Mln Funding

PEDaily, 4/14/15

Beijing-based Kuanke Network Technology, operator of online music and music video website Yinyuetai, has received USD 35 mln funding, the company announced at an industry summit that it organized in Beijing.

The company said the funding will be used to build a fan club platform and optimize its music fan service system.

According to Yinyuetai's publicly available data, it currently has more than 800,000 high-definition music videos, of which more than 90% were debuted on its platform. It attracts an average of 5 mln users daily, while its app has been download 25 mln times. Its video click volume is 10 times that of Chinese online video site operator Youku Tudou (NYSE: YOKU).

Fans of Korean and Japanese singers are the most active users on the platform.

Editor's Note: For more background on this topic, please see "China Unicom Music Center, Music Websites Partner on Mobile Apps," MD 12/03/12 issue.

Keywords: Yinyuetai Kuanke downloads Internet funding online video online music active users

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