Warner Music has signed a deal with China’s Tencent with the aim to create a fast-growing Asian market. Puza Snigdha reports.
The deal will increase Warner’s presence in China, will make it visible on the three largest streaming platforms- QQ Music, Kugou Music and Kuwo Music, and karaoke platform WeSing.
Tencent Music Entertainment owns this three major platforms.
The companies are also launching record labels to develop artists together. Talking about the label, the American label says it will increase the visibility of the artist, and artists like Dua Lipa and Ed Sheeran “impossible to ignore”.
Bringing international artists to China and vice versa, Tencent has some more deals plan.The label will create new opportunities in music-for-business solutions and connected devices.
“Alongside our increased investment in artist & repertoire 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,” said Simon Robson, President, International for recorded music at WMG.
Big Hit Entertainment, South Korean super group BTS’s label, to create a new record label to launch a new k-pop boy band together.
However, Tencent is investing billions of dollars in the US music market.