(CelebrityAccess) — Chinese streaming giant Tencent Music announced it has expanded on its multi-year licensing deal with Warner Music as part of a deal that will include a new joint venture record label.
The joint venture will seek to leverage Warner Music’s global marketing platform with TME’s in mainland China’s music and entertainment market to promote both international and homegrown artiss.
“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 artist & repertoire (“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.”
“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,” added TME CEO Cussion Pang.
The deal also includes an expansion of TME’s current licensing agreement with Warner Music. The agreement allows TME to stream Warner Music’s repertoire 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 available via TME’s streaming platforms on certain internet-connected devices, including in-car audio systems in China, WMG said.