Marbridge Daily

<- July 25, 2011 ->

Rumor: Baidu Pays Record Labels RMB 37 Mln in Licensing Fees

DoNews, 7/25/11

Chinese internet company Baidu (Nasdaq: BIDU) has paid approximately RMB 37 mln in music licensing fees to Universal Music, Warner Music Hong Kong and Sony BMG Music Entertainment Hong Kong, and will also split ad revenue from its online music services with the three labels.

Editor's Note: For more information on this topic, please see "Baidu Licenses Music from 3 Global Record Labels," MD 7/19/11 issue.

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