SHENZHEN, China, March 22, 2021 /PRNewswire/ — Tencent Music Leisure Group (“Tencent Music,” “TME,” or the “Firm”) (NYSE: TME), the main on-line music leisure platform in China, and Warner Music, the worldwide recorded music firm, at present introduced an expanded multi-year strategic licensing settlement. The businesses have been working collectively since their unique settlement greater than a decade in the past.
TME will proceed to make Warner Music’s repertoire out there throughout all its on-line music platforms in mainland China, together with QQ Music, Kugou Music and Kuwo Music, in addition to its stay streaming platforms and WeSing, its on-line karaoke platform. As well as, Warner Music’s repertoire will even be made out there, by way of TME’s on-line music platforms, on sure designated related units, akin to in-car audio programs, in mainland China.
The businesses additionally agreed to launch a brand new three way partnership file label, leveraging Warner Music’s international assets and expertise in supporting artists’ careers, in addition to TME’s large affect in mainland China’s music and leisure market.
“Our collaboration with TME has already delivered super outcomes for native and worldwide artists, and now we’re opening up much more alternatives collectively,” stated Simon Robson, President, Worldwide, Warner Recorded Music, WMG. “Alongside our elevated funding in artist & repertoire (“A&R”) and advertising and marketing in Better China, this renewed and expanded partnership means we may also help make our artists not possible to disregard in one of many world’s fastest-expanding music markets.”
Cussion Pang, Chief Government Officer of TME, stated, “TME and Warner Music have maintained a robust strategic partnership with deep mutual belief for a very long time. We’ve got shared the identical ardour and imaginative and prescient by carefully collaborating on copyright safety, and empowering and defending artists and their work, whereas unlocking the intrinsic worth of music. This cooperation might be a brand new trade benchmark for diversified improvement and worth creation in China’s music trade.”
“TME is a real innovator,” stated Oana Ruxandra, EVP, Enterprise Growth and Chief Digital Officer, WMG. “We have developed an incredible relationship since we began working collectively greater than 10 years in the past, based mostly on mutual belief, and have labored collectively to open new alternatives for artists to interact with followers on an enormous scale. I am so happy that we have been in a position to renew and increase our partnership and know that our collaboration will assist energy the expansion of the entire digital music market.”
TC Pan, TME’s Group Vice President of Content material Cooperation, added, “Going ahead, with our joint exploration of the rising music marketplace for designated related units in mainland China, we are going to additional optimize worth in recorded music distribution. Via the brand new three way partnership and different types of deeper collaboration with Warner Music, we are going to seamlessly combine the premium A&R functionality of a global recording firm with our vibrant and large on-line music ecosystem, to find distinctive musical expertise and content material, and convey unparalleled music experiences to followers as we showcase ‘new technology’ artists to the worldwide music market.”
About Tencent Music Leisure
Tencent Music Leisure Group (NYSE: TME) is the main on-line music leisure platform in China, working the nation’s extremely well-liked and progressive music apps: QQ Music, Kugou Music, Kuwo Music and WeSing. Tencent Music’s mission is to make use of expertise to raise the function of music in individuals’s lives by enabling them to create, get pleasure from, share and work together with music. Tencent Music’s platform contains on-line music, on-line karaoke and music-centric stay streaming companies, enabling music followers to find, pay attention, sing, watch, carry out and socialize round music. For extra info, please go to ir.tencentmusic.com.
About Warner Music
On the core of Warner Music Group’s Recorded Music division are 4 of essentially the most iconic corporations in historical past: Atlantic, Elektra, Parlophone and Warner Information. They’re joined by famend labels akin to Asylum, Large Beat, Canvasback, East West, Erato, FFRR, Fueled by Ramen, Nonesuch, Reprise, Rhino, Roadrunner, Sire, Spinnin’, Warner Classics and Warner Music Nashville.
Secure Harbor Assertion
This press launch accommodates forward-looking statements. These statements are made beneath the “protected harbor” provisions of the U.S. Personal Securities Litigation Reform Act of 1995. Statements that aren’t historic info, together with statements concerning the Firm’s beliefs and expectations, are forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties, and quite a few components may trigger precise outcomes to vary materially from these contained in any forward-looking assertion. In some instances, forward-looking statements could be recognized by phrases or phrases akin to “might,” “will,” “count on,” “anticipate,” “goal,” “goal,” “estimate,” “intend,” “plan,” “consider,” “potential,” “proceed,” “is/are more likely to” or different related expressions. Additional info relating to these and different dangers, uncertainties or components is included within the Firm’s filings with the SEC. All info offered on this press launch is as of the date of this press launch, and the Firm doesn’t undertake any responsibility to replace such info, besides as required beneath relevant regulation.
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SOURCE Tencent Music Leisure Group