menu Home chevron_right
Music News

UMG and Tencent Music Renew Multi-Year Licensing Pact

Mr. Nimbus | 01/03/2024
image

Universal Music Group and Tencent Music Entertainment have renewed their multi-year licensing agreement, the companies announced on Wednesday (Jan. 3). Under the renewed agreement between TME and UMG — first signed in May 2017 — Tencent will continue to distribute UMG content on its associated streaming platforms QQ Music, Kogou Music and Kuwo Music, as well as the karaoke platform WeSing.

The expansive partnership also includes music streaming in Dolby Atmos and high-definition formats, according to the announcement. The companies last renewed their licensing pact in 2020, when it also launched a joint venture music label to develop, produce and showcase Chinese artists.

TME’s majority owner, Tencent, also leads Concerto Partners, a consortium that owns a combined 19.92% stake in UMG.

Timothy Xu, chairman and CEO of Universal Music Greater China said, “We are delighted to extend our relationship with TME, as we continue to create new opportunities for UMG’s artists to connect with the many millions of dedicated music fans here in China. UMG will continue to work with TME to bring the very best in music to these passionate music consumers, and to explore new ways to enhance their listening experiences.”

TME executive chairman Cussion Pang added, “UMG has been an invaluable ecosystem partner to TME with deep mutual trust. Our diverse user demographics, large subscriber base, extensive industry insights, and advanced technologies have positioned us as a standout partner of choice. With a shared passion for music, we look forward to enriching our cooperation and strengthening our vibrant ecosystem to promote growth and prosperity.”

This post was originally published on this site

Written by Mr. Nimbus




This area can contain widgets, menus, shortcodes and custom content. You can manage it from the Customizer, in the Second layer section.

 

 

 

Newsletter

  • cover play_circle_filled

    Tiki Town Radio

  • cover play_circle_filled

    Pendulum Radio

  • cover play_circle_filled

    Global Darkness Radio

  • cover play_circle_filled

    Desire Unbound Spa Radio

  • cover play_circle_filled

    Nimbus Hits
    Today's hits and classic favorites

  • cover play_circle_filled

    Nimbus Entertainment 80s

  • cover play_circle_filled

    Nimbus Dark Dance

  • cover play_circle_filled

    Nimbus Punk
    Classic and modern punk and hardcore

play_arrow skip_previous skip_next volume_down
playlist_play