Sina Tech, 9/12/17
Chinese e-commerce conglomerate Alibaba Group's (NYSE: BABA) Ali Music Group and Chinese internet and mobile services firm Tencent's (0700.HK) Tencent Music Entertainment Group (TME) jointly announced today that they have reached an agreement on music copyright licensing.
TME will sublicense its song library of over 1 mln titles, including sole agency of global record labels Universal, Warner Bros., and Sony, as well as regional record companies, such as Koreas YG Entertainment, Taiwan's JVR Music, and Korea's LOEN Entertainment, to Ali Music. Ali Music, in turn, will provide TME with a sublicense to copyrighted music from Rolling Stone, HIM, Bin Music, and Media Asia Group.
Artists and songs on Ali Music Group's music platform Xiami.com and Tencent's QQ Music, Kugou Music, and Kuwo Music will be synchronized and mutually available for users.