Tencent Music Entertainment Group, part of the massive China-based Tencent media company, and Warner Music have announced an expanded multi-year strategic licensing agreement that will also see the companies collaborating on a new joint venture record label.
While Tencent became a 20% owner of Warner competitor Universal Music Group late last year, it and Warner have been working together since their original agreement more than a decade ago.
As part of the expanded agreement, 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. In addition, Warner Music’s repertoire 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.
The companies also agreed to launch a new joint venture record label, leveraging Warner Music’s global resources and experience in supporting artists’ careers, as well as TME’s massive influence in mainland China’s music and entertainment market.
“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, Warner’s president of international recorded music. “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, Chief Executive Officer 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.”
“TME is a true innovator,” said Oana Ruxandra, WMG’s EVP of business development and chief digital officer. “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.”
TC Pan, TME’s Group Vice President of Content Cooperation, added, “Going forward, with our joint exploration of the emerging music market for designated connected devices in mainland China, we will further optimize value in recorded music distribution.”
