SHENZHEN, China, May 17, 2021 /PRNewswire/ -- Tencent Music Entertainment Group ("Tencent Music," "TME," or the "Company") (NYSE:
TME), the leading online music and audio entertainment platform in
China, and Sony Music
Entertainment ("SME") today announced the multi-year extension
of the digital distribution agreement between the two parties.
TME will continue to make music from SME available across all
its online music platforms in mainland China, including QQ Music, Kugou Music and
Kuwo Music, as well as its live streaming platforms and WeSing, its
online karaoke platform. In addition, TME's online music platforms
also will make music content from SME available on certain
designated connected devices, such as smart speakers, television,
and in-car audio systems, in mainland China.
"Extending our cooperation with SME was a natural next-step for
us," said Cussion Pang, TME's Executive Chairman. "We look forward
to leveraging our strong distribution channels to explore new ways
of music marketing and the promotion of new artists, as well as
deepening our reach to Japanese pop culture fans in China. With the music industry in China booming and set to become increasingly
important on the international music map, we believe alliances such
as these enable our users to have the best possible experience at
their fingertips."
Dennis Kooker, President, Global
Digital Business and U.S. Sales, Sony Music Entertainment,
commented "Sony Music is pleased to extend our valued partnership
with Tencent Music to maximize the
reach of our artists in the vitally important market of
China. We look forward to working
with TME to develop further growth in the Chinese music marketplace
and drive greater levels of local investment in our global roster
of amazing talent, which includes many of the world's biggest
superstars."
"TME has always maintained a deep and productive cooperation
relationship with SME. Our massive, actively-engaged user base,
vibrant product portfolio and strong appeal to young users, coupled
with SME's leading music library, uniquely position us to not only
attract more music lovers but also open more opportunities for
artists while delivering value for both," said TC Pan, TME's Group
Vice President of Content Cooperation. "Looking ahead, we hope to
boost the digital consumption of music in China through the connected IoT device market
while exploring more possibilities for music marketing, to further
enhance our self-reinforcing ecosystem."
Andrew Chan, Managing Director, Sony Music Greater China,
commented, "We are pleased to continue the mutually beneficial
relationship between SME and TME. Our renewed partnership will
bring even more high-quality music and outstanding artists to TME's
audience and provide music fans in China with a wide-range of world-class content
choices via compelling licensed digital platforms. Whether coming
from China or elsewhere in the
world, SME's artists will leverage TME's commercial and marketing
capabilities to realize their potential in a diversified and
dynamic Chinese music market."
About Tencent Music
Entertainment
Tencent Music Entertainment Group
(NYSE: TME) is the leading online music and audio entertainment
platform in China, operating the
country's highly popular and innovative music apps: QQ Music, Kugou
Music, Kuwo Music and WeSing. Tencent
Music's mission is to use technology to elevate the role of music
in people's lives by enabling them to create, enjoy, share and
interact with music. Tencent Music's
platform comprises online music, online audio, online karaoke and
music-centric live streaming services, enabling music fans to
discover, listen, sing, watch, perform and socialize around music.
For more information, please visit ir.tencentmusic.com.
About Sony Music Entertainment
Sony Music Entertainment is headquartered in New York, USA, and is one of the world leading
music recording companies. It owns several influential music labels
including RCA, Columbia, Arista,
EPIC, etc. It has consistently nurtured and promoted iconic artists
in the music industry, and owns a massive catalogue of renowned
audio and video recordings. SME Greater China artist roster
includes G.E.M., Karen Mok,
Eric Chou, Evan Lin, Nana
Ou-yang, etc. For more information, please visit:
https://www.sonymusic.com.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. Statements that
are not historical facts, including statements about the Company's
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties, and a number of factors could cause actual results
to differ materially from those contained in any forward-looking
statement. In some cases, forward-looking statements can be
identified by words or phrases such as "may," "will," "expect,"
"anticipate," "target," "aim," "estimate," "intend," "plan,"
"believe," "potential," "continue," "is/are likely to" or other
similar expressions. Further information regarding these and other
risks, uncertainties or factors is included in the Company's
filings with the SEC. All information provided in this press
release is as of the date of this press release, and the Company
does not undertake any duty to update such information, except as
required under applicable law.
Investor Relations Contact
Tencent Music Entertainment
Group
ir@tencentmusic.com
+86 (755) 8601-3388 ext. 883606
View original
content:http://www.prnewswire.com/news-releases/tencent-music-and-sony-music-entertainment-sign-multi-year-extension-of-digital-distribution-agreement-301292445.html
SOURCE Tencent Music Entertainment
Group