Tencent Music Entertainment Group and Universal Music Group Extend Multi-year Strategic Licensing Agreement
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
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
About Tencent Music Entertainment
Tencent Music Entertainment Group (NYSE: TME and HKEX: 1698) is the leading online music and audio entertainment platform in
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.
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SOURCE Tencent Music Entertainment Group