The Warner Band and Tencent Music Entertainment is establishing a joint venture record label in China, the two companies have confirmed.
Today’s announcement comes as Warner and TME confirm that they have also signed a new multi-year licensing agreement for WMG’s recorded music repertoire on the Tencent platform in mainland China.
Those platforms include QQ Music, Kugou Music and Kuwo Music, as well as live streaming platforms and WeSing, TME’s online karaoke platform.
Warner Music repertoire will also be made available, through TME’s online music platforms, on certain designated connected devices, such as in-car audio systems, in China. continent.
The new joint venture label will “[leverage] Warner Music’s global resources and experience supporting the artists’ careers, as well as TME’s influence in mainland China’s music and entertainment market.
The treaty continues the long term partnership between TME and WMG, the first signed a license agreement for recordings in 2014.
“This renewed and expanded partnership means we can make our artists indispensable in one of the world’s fastest expanding music markets.”
Simon Robson, Warner Music
Simon Robson, International President, Warner Recorded Music, WMG, said: “Our collaboration with TME has yielded enormous results for domestic and international artists, and now we are opening up. many more opportunities together.
“Along with the increased investment in artist & performance and marketing in Greater China, this new and expanding partnership means that we can help our artists not to be missed at one of the fastest expanding music markets in the world. “
“This partnership will be a new industry standard for diversified growth and value creation in China’s music industry.”
Cussion Pang, Tencent Music
Cussion Pang, CEO of TME, said: “TME and Warner Music have maintained a strong strategic partnership with deep mutual trust over a long period of time.
“We have shared the same passion and vision by working closely in copyright protection, empowering and protecting artists and their works, and opening up the intrinsic value of music. This partnership will be a new industry standard for diversified growth and value creation in China’s music industry ”.
“We have developed a great relationship since we started working together more than 10 years ago, based on mutual trust and have worked together to open up new opportunities for artists. artists interact with fans on a large scale. “
Oana Ruxandra, Warner Music Group
Oana Ruxandra, EVP, Business and Digital Development Director, WMG, said: “TME is a true innovator. We have developed a great relationship since we started working together more than 10 years ago, based on mutual trust and have worked together to open up new opportunities for artists. Interact with fans on a large scale.
“I’m glad we were able to extend and expand the partnership and know that our partnership will help drive the growth of the entire digital music market.”
TC Pan, Vice President of Content Cooperation at TME Group, added, “In the future, by jointly exploring the emerging music market for designated connected devices in mainland China, We will further optimize the value in the delivery of recorded music.
“Through new ventures and other deeper collaborations with Warner Music, we will seamlessly integrate the premium A&R capabilities of an international record company with a vibrant online music ecosystem and To uncover unique content and musical talent, at the same time bring an unrivaled musical experience to fans as we introduce ‘new generation’ artists to the music market. global music. “Worldwide music business