Huge New License Agreement Signed By Warner Music And Tencent Music Entertainment

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Image Credit: Tencent Music

The new agreement renews the ten-year partnership between Warner and Tencent Music, which will also launch a joint label.

Tencent Music Entertainment Group and Warner Music have officially signed a huge new license agreement. The two companies, two giants of the global music industry, joined forces for the first time a decade ago and the new agreement renews the previous agreement while expanding it.

Tencent Music owns some of the biggest music platforms in China, and following the deal, Warner Music songs will continue to be available nationwide. Tencent’s platforms include its live streaming platforms and QQ Music, Kugou Music and Kuwo Music, as well as the karaoke platform WeSing.

Simon Robson, President of International at Warner Recorded Music said: “Our collaboration with TME has already yielded huge results for local and international artists, and now we are opening even more opportunities together. Along with our increased investments 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 growing music markets. .

In addition, the companies will launch a common label. The announcement contained few details on what form the label would take, only that it will leverage Warner Music’s “global resources and experience in supporting artists’ careers, as well as TME’s massive influence. in the music and entertainment market in mainland China ”.

Tencent now has common labels with all the “big three” record companies after last year signature a similar deal with Universal Music, establishing a label to promote Chinese artists to the world.

TC Pan, Vice President of Content Cooperation of Tencent Music Group, said, “Going forward, with our joint exploration of the emerging music market for designated connected devices in Mainland China, we will further optimize the value of recorded music distribution. Through the new joint venture and other forms of deeper collaboration with Warner Music, we will seamlessly integrate the high-end A&R capability of an international recording company into our vibrant and massive online music ecosystem, to discover unique musical talents and content, and bring unparalleled musical experiences. to fans as we introduce “next generation” artists to the global music market. “

Neither company is inclined to rest on its laurels. In January, Tencent Music’s reach extended to the audiobook industry, purchasing the Lazy Audio platform for $ 416 million. The Chinese music giant also has a significant stake in Warner Music Group, purchasing a $ 100 million stake in the company in June 2020. Meanwhile, Warner has invested this year in the Roblox gaming platform and has signed a distribution agreement with Rotana, one of the largest record labels in the Middle East.


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