Tencent Music, Sony Music Renew China Distribution Deal
Charissa Echavez | | Oct 03, 2016 10:44 PM EDT |
(Photo : Getty Images) Tencent Music and Sony Music Entertainment renewed their partnership for the exclusive promotion, marketing, and distribution of Sony Music's audio master recordings in the mainland.
Tencent Music and Sony Music Entertainment announced on Monday that they have renewed their strategic partnership for the online digital distribution of Sony Music's audio master recordings in the mainland.
Under the cooperation's terms, Sony Music will collaborate with Tencent Music on the promotion, marketing, and online distribution of Sony Music's repertoire in China, PR Newswire reported.
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Both companies will continue the original terms of the cooperation that will see Tencent Music manage and distribute Sony Music's extensive lists of local and international artists including The Chainsmokers, Beyonce, Calvin Harris, One Direction, Justin Timberlake, to name a few, in China.
Dowson Tong, chairman of Tencent Music, is delighted of the extended partnership Tencent Music made with Sony Music.
"Our partnership will continue to flourish as Tencent Music's influence on the China market grows and as we bring even more great content from Sony Music's global catalogue of heavyweight artists to China, enhancing Sony Music's business and thrilling music lovers in the mainland."
Meanwhile, Dennis Handlin AM, chairman and CEO of Sony Music Australia and New Zealand and President, Asia, said: "Tencent Music's promotion of the legal use of digital music has made a very positive and lasting change to the market for music labels and music fans."
He further added that their strategic partnership made a significant difference in the development of artists and fan engagement.
The two music companies initially signed a deal in 2014, with Sony giving its repertoire to Tencent for China, Music Business Worldwide reported.
Tencent Music also inked a similar deal with Warner Music Group in 2014 and also holds partnership with Believe Digital and other music rights managers.
Meanwhile, Tencent also operates China's QQ Music streaming service, dubbed as China's Spotify. The platform expanded in July after it teamed up with China Music Corporation, parent company of KuGuo and Kuwo, to form a new digital music business that will give Tencent a controlling stake in a deal valued at $2.7 billion, Billboard reported.
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