Universal Music Group and Tencent Music Entertainment Group enter into strategic agreement
Universal Music Group and Tencent Music Entertainment Group, a leading digital music distribution platform in China, today announced the signing of a landmark licensing agreement that will significantly expand the Chinese music market.
Under the terms of the multi-year agreement, Tencent Music Entertainment Group will distribute music from Universal Music Group’s roster of record labels and global recording stars on its streaming platforms QQ Music, KuGou and Kuwo. Tencent Music Entertainment Group will also be Universal Music Group’s master distribution and licensing partner to exclusively sub-license Universal Music Group’s content to third-party music service providers in China. Both parties will work together to find new ways to develop artists, to innovate business models and to reinforce a robust copyright protection environment. In addition, Tencent Music Entertainment Group will support Universal Music artists to promote their music, leveraging Tencent online properties and other media channels.
Furthermore, to accelerate the development of Chinese recording artists and advance a vibrant local repertoire, Universal Music Group and Tencent Music Entertainment Group will work together to design, build and develop Abbey Road Studios China, a state-of-the-art recording and mastering facility inspired by Universal Music Group’s iconic recording studio in London.
>> See the full press release here.