Tencent, WMG To Launch New Label
• Tencent Music Entertainment Group (ME), the leading online music entertainment platform in China and Warner Music announced an expanded multi-year strategic licensing agreement, along with plans to launch a new joint venture record label. The companies have been working together since their original agreement more than a decade ago.
TME will continue to make Warner Music’s repertoire available across all its online music platforms in mainland China, including QQ Music, Kugou Music and Kuwo Music, as well as its live streaming platforms and WeSing, its online karaoke platform. Warner Music’s product will also be made available, via TME’s online music platforms, on certain designated connected devices, such as in-car audio systems, in mainland China.
“Our collaboration with TME has already delivered tremendous results for local and international artists, and now we’re opening up even more opportunities together,” said Simon Robson, President, International, Warner Recorded Music, WMG. “Alongside our increased investment in A&R and marketing in Greater China, this renewed and expanded partnership means we can help make our artists impossible to ignore in one of the world’s fastest-expanding music markets.” Cussion Pang, CEO of TME, said, “TME and Warner Music have maintained a strong strategic partnership with deep mutual trust for a long time. We have shared the same passion and vision by closely collaborating on copyright protection, and empowering and protecting artists and their work, while unlocking the intrinsic value of music. This cooperation will be a new industry benchmark for diversified development and value creation in China’s music industry.”
Oana Ruxandra, EVP, Business Development and Chief Digital Officer, WMG, commented, “TME is a true innovator. We’ve developed a great relationship since we started working together more than 10 years ago, based on mutual trust, and have worked together to open new opportunities for artists to engage with fans on a huge scale. I’m so pleased that we’ve been able to renew and expand our partnership and know that our collaboration will help power the growth of the whole digital music market.”
