In this letter, we propose two power allocation schemes based on the statistical channel state information (CSI) and instantaneous s→r CSI at transmitters, respectively, for a 2-N-2 cooperative multicast system with nonregenerative network coding. Then the isolated precoder and the distributed precoder are, respectively, applied to the schemes to further improve the system performance by achieving the full diversity gain. Finally, we demonstrate that joint instantaneous CSI-based power allocation and distributed precoder design achieve the best performance.