© REUTERS/Florence Lo/Illustration/File Photo
Tencent Music Entertainment Group (TME), China’s dominant online music platform, and Universal Music Group (UMG), the global music leader, have agreed to extend their strategic licensing deal. This renewed partnership between the two companies will further their shared goal of creating value for artists and excellent experiences for music fans.
Under the terms of the multi-year agreement, TME will continue providing users of its popular music apps like QQ Music and Kuwo access to UMG’s extensive catalog. The expanded deal allows TME to stream UMG music in high-quality formats like Dolby Atmos.
Cussion Pang, Executive Chairman of TME, stated that UMG has been an invaluable partner thanks to their mutual trust and understanding. With its huge audience and insights into Chinese music trends, TME is well-positioned to promote growth alongside top global partners. Both companies are passionate about music and look forward to deepening cooperation across China’s booming music market.
Adam Granite, UMG’s EVP of Market Development, said they are pleased to extend the relationship in China. Given renewed focus on Chinese talent, UMG looks forward to collaborating with TME on new experiences for fans. The agreement will also open more opportunities for UMG artists in China.
TC Pan, TME’s VP of Content Strategy, commented on their commitment to the best music content through diverse platforms. Working with UMG, they aim to explore innovative ways for artists and fans to interact while supporting creativity.
Timothy Xu, Chairman and CEO of UMG China, stated they are happy to strengthen ties with TME. UMG will keep working to connect their artists to China’s huge music audience through TME’s services. Both companies will seek new approaches to enhance listening for passionate Chinese music lovers.
