Universal Music Group (UMG) announced Monday that it has signed multi-year direct licensing agreements in China with both Tencent Music Entertainment (TME) and its competitor NetEase Cloud Music, b…
The move signals a shake-up in the major labels’ approach to the Chinese market. Until now, UMG, Warner Music and Sony Music Entertainment had each signed a single, exclusive licensing deal in China with TME, which then sub-licensed its catalogs out to its rivals, including NetEase.
The firm will now directly distribute UMG’s full roster of music, “increasing the scope of premium offerings and experiences” available to its subscribers, it said. The two firms also announced a new, still unnamed joint venture music label that will focus on cultivating Chinese artists for local audiences.
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