WMG EXPANDS TENCENT DEAL, LAUNCHES JV IN CHINA

Warner Music Group and China's leading online music-entertainment company, Tencent Music Entertainment, have agreed to renew and expand their multiyear strategic-licensing deal.

TME will continue to make Warner Music’s repertoire available across its online music platforms in mainland China, including QQ Music, Kugou Music and Kuwo Music, as well as its livestreaming outlets and karaoke destination, WeSing. WMG properties will also be made available in designated devices such as in-car audio systems in mainland China.

Additionally, the new agreement stipulates a joint venture record label, affording WMG's recorded-music arm TME's influence in the mainland-Chinese music 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, 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, 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, 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.”