Tencent Music Entertainment Group and Universal Music Group's partnership continues to grow.
On 3 January, the two groups announced the renewal of their multi-year strategic licensing agreement with UMG offering TME access to their catalog for QQ Music, Kugou Music, Kuwo Music, and WeSing, including music streaming in Dolby Atmos and high-definition formats.
According to TC Pan, TME's Group Vice President and Head of Content Cooperation Business, TME's efforts with UMG will also explore innovative ways to facilitate artist-fan interactions, while unleashing artists' creativity. The renewal of their strategic licensing agreement also creates new opportunities for UMG artists to connect with millions of fans across China.
"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," Cussion Pang, Executive Chairman of TME, said in a statement. "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, adds, "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."