China’s largest search engine Baidu has entered into a strategic partnership with one of China’s major music live streaming services known as NetEase Cloud Music.
Following this partnership, Baidu stated that the high-quality content of NetEase Cloud Music will reach hundreds of millions of users by virtue of Baidu’s app, information flow and video platform. This will be beneficial for both the parties.
Firstly, the companies will cooperate in the intelligent hardware sector. NetEase Inc will remain the controlling shareholder in NetEase Cloud Music after the investment, whereas Baidu will hold the position of a strategic partner.
The basic idea of Baidu is to expand its presence in content. Prior to this, the company has invested in a series of video-sharing platforms, such as Baidu Video, Qingting FM, Pear Video and Renren Video.
The company also stated that it will ramp up efforts to gain an upper hand in the upgrading of content consumption by depending on its affluent content resources in graphics and text information, short video, music and reading.