20:23 PDT 22/03/2021
by
Patrick Brzeski
Tencent is a dominant player in digital music in China and has been licensing Warner Music songs for over a decade.
Warner Music and Tencent Music Entertainment Group said on Tuesday that they have expanded their long-term licensing relationship, while also collaborating on a new joint venture record company targeting the Chinese market.
Tencent Music is a dominant player in digital music in China and has been licensing Warner Music songs for over a decade. Under the expanded agreement, Warner Music’s repertoire will be made available on all of Tencent’s online music platforms in mainland China, which include on-demand streaming channels QQ Music, Kugou Music and Kuwo Music; the online karaoke platform WeSing, various live streaming platforms and over other connected devices, such as in-car audio systems.
Details about the joint venture’s record label were scarce, but the two partners said it’s Warner Music’s global resources and experience in supporting artists’ careers, as well as the great influence of Tencent Music on mainland China’s music industry. and entertainment market ‘.
Tencent bought a 20 percent stake in Universal Music Group late last year, but the Chinese company’s close relationship with the other major labels was hampered by the deal. Financial terms for the Warner Music Agreement have not been disclosed.
Simon Robson, President of International at Warner Recorded Music, said: “Our collaboration with Tencent Music has already yielded tremendous results for local and international artists, and now we are offering even more opportunities together. In addition to our increased investment in artists and repertoire and this renewed and expanded partnership, which means marketing in Greater China, can help us make it impossible for our artists to be ignored in one of the world’s fastest growing music markets. ‘
Cussion Pang, CEO of Tencent Music, added: “We have shared the same passion and vision by working closely together to protect copyright, and to empower and protect artists and their work, while maintaining the intrinsic value of music. “This collaboration will be a new industry benchmark for diversified development and value creation in China’s music industry.”