SHENZHEN, China, March 22, 2021 /PRNewswire/ -- Tencent Music Entertainment Group ("Tencent Music," "TME," or the "Company") (NYSE:
TME), the leading online music entertainment platform in
China, and Warner Music, the international recorded music
company, today announced an expanded multi-year strategic licensing
agreement. The companies have been working together since their
original agreement more than a decade ago.
TME will continue to make Warner
Music's repertoire 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, Warner Music's
repertoire will also be made available, via TME's online music
platforms, on certain designated connected devices, such as in-car
audio systems, in mainland China.
The companies also agreed to launch a new joint venture record
label, leveraging Warner Music's
global resources and experience in supporting artists' careers, as
well as TME's massive influence in mainland China's music and entertainment market.
"Our collaboration with TME has already delivered tremendous
results for local and international artists, and now we're opening
up even more opportunities together," said Simon Robson, President, International, Warner
Recorded Music, WMG. "Alongside our increased investment in artist
& repertoire ("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-expanding music markets."
Cussion Pang, Chief Executive Officer of TME, said, "TME and
Warner Music have maintained a strong strategic partnership with
deep mutual trust for a long time. We have shared the same
passion and vision by closely collaborating on copyright
protection, and empowering and protecting artists and their work,
while unlocking the intrinsic value of music. This cooperation will
be a new industry benchmark for diversified development and value
creation in China's music industry."
"TME is a true innovator," said Oana Ruxandra, EVP, Business
Development and Chief Digital Officer, WMG. "We've developed
a great relationship since we started working together more than 10
years ago, based on mutual trust, and have worked together to open
new opportunities for artists to engage with fans on a huge
scale. I'm so pleased that we've been able to renew and
expand our partnership and know that our collaboration will help
power the growth of the whole digital music market."
TC Pan, TME's Group Vice President of Content Cooperation,
added, "Going forward, with our joint exploration of the emerging
music market for designated connected devices in mainland
China, we will further optimize
value in recorded music distribution. Through the new joint venture
and other forms of deeper collaboration with Warner Music, we will seamlessly integrate the
premium A&R capability of an international recording company
with our vibrant and massive online music ecosystem, to discover
unique musical talent and content, and bring unparalleled music
experiences to fans as we showcase 'new generation' artists to the
global music market."
About Tencent Music
Tencent Music Entertainment Group
(NYSE: TME) is the leading online music 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 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 Warner Music
At the core of Warner Music Group's Recorded Music division are
four of the most iconic companies in history: Atlantic, Elektra,
Parlophone and Warner Records. They
are joined by renowned labels such as Asylum, Big Beat, Canvasback,
East West, Erato, FFRR, Fueled by Ramen, Nonesuch, Reprise, Rhino,
Roadrunner, Sire, Spinnin', Warner Classics and Warner Music
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
+86 (755) 8601-3388 ext. 883606
SOURCE Tencent Music Entertainment