SHENZHEN, China, Jan. 3, 2024 /PRNewswire/ -- Tencent Music Entertainment Group ("TME," or the
"Company") (NYSE: TME and HKEX: 1698), the leading online music and
audio entertainment platform in China, and Universal Music Group ("UMG"), the
world's leading music-based entertainment company, today announced
the renewal of a multi-year strategic licensing agreement,
fortifying their shared commitment to creating value for artists
and exceptional experiences for music lovers.
Under the agreement, TME continues to have access to UMG's music
catalogue for QQ Music, Kugou Music, Kuwo Music, and WeSing. The
expansive partnership includes music streaming in Dolby Atmos and
high-definition (HD) formats.
Cussion Pang, Executive Chairman of TME, said, "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."
Adam Granite, UMG's EVP of Market Development, said, "We are
pleased to extend our licensing agreement with TME for the Chinese
market. With our renewed focus on signing and supporting the best
talent from across Greater China,
we look forward to working together with TME to help create
compelling new experiences for fans across all TME platforms, and
to expand on the opportunities available to UMG's family of artists
in China."
TC Pan, TME's Group Vice President and Head of Content
Cooperation Business, added, "We are committed to offering our
users the most comprehensive music content through diverse
scenarios across our platform. Through our concerted efforts with
UMG, we'll also explore innovative ways to facilitate artist-fan
interactions while unleashing artists' creativity."
Timothy Xu, Chairman and CEO,
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."
About Tencent Music
Entertainment
Tencent Music Entertainment Group
(NYSE: TME and HKEX: 1698) 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. TME's mission is to
create endless possibilities with music and technology. TME's
platform comprises online music, online audio, online karaoke,
music-centric live streaming and online concert services, enabling
music fans to discover, listen, sing, watch, perform and socialize
around music. For more information, please visit
ir.tencentmusic.com.
About Universal Music Group
Universal Music Group is the world leader in music-based
entertainment, with a broad array of businesses engaged in recorded
music, music publishing, merchandising and audiovisual content.
Featuring the most comprehensive catalogue of recordings and songs
across every musical genre, UMG identifies and develops artists and
produces and distributes the most critically acclaimed and
commercially successful music in the world. Committed to artistry,
innovation and entrepreneurship, UMG fosters the development of
services, platforms and business models in order to broaden
artistic and commercial opportunities for artists and create new
experiences for fans. For more information on Universal Music Group
visit www.universalmusic.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 and the HKEX. 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. 818415
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SOURCE Tencent Music Entertainment
Group