Music Entertainment Group and Universal Music Group jointly announced that based on the long-term deepening close partnership, the two sides renewed the strategic cooperation agreement on copyright licensing for several years. Under the cooperation agreement, the two sides will set up a joint venture music brand, jointly explore and cultivate new musicians, and comprehensively expand the breadth and depth of cooperation.
this means that in addition to Taylor Swift, Ariana Grande, Justin Bieber, Katy Perry, Drake, Billie eilish and troye, users can continue to listen to QQ music, cool dog music and KuWo music platforms The works of Siva and others include Zhang Xueyou, Eason Chen, Yanzi sun, Huimei Zhang, Qingfeng Wu, Lijun Deng, Guorong Zhang, Feifei Wang and beyond. In addition, the scope of authorization includes scenes such as national karaoke and online music live broadcast platform.
Adam, executive vice president of emerging markets development, Universal Music Group Granite said that it is very pleased to further develop and upgrade copyright cooperation in the Chinese market with Tencent Music Entertainment Group, and looks forward to working together with Tencent Music Entertainment Group to create a new music experience for music users on its full platform, and to explore more development opportunities in the Chinese market for global music international and local artists.
Peng Jiaxin, CEO of Tencent Music Entertainment Group, said: “for a long time, Tencent Music Entertainment Group and global music group have been highly consistent in the construction of music ecology and in-depth excavation of intrinsic value of content. Through various forms of content co creation and all-round cutting-edge exploration, the two sides have further expanded the more open music ecological value and continuously provided more rich and distinctive global level high-quality music entertainment experience for the majority of users, while also creating more unprecedented new opportunities for the industry. We believe that this cooperation will also provide a model of win-win cooperation for the development of the music industry in the digital age. ”
Tencent Music Entertainment Group today released its unaudited financial report for the second quarter of fiscal year 2020 as of June 30. According to the report, its total revenue in the second quarter was 6.93 billion yuan, an increase of 17.5% over the same period last year, of which% came from online. Tencent music entertainment group said this was mainly due to strong revenue growth from music subscription, which is% online. In addition, the number of online music service paying users in this quarter was 47.1 million, with a year-on-year increase of 51.9%. The average monthly income per paid user was 9.3 yuan, with a year-on-year increase of 8.1%. The net profit attributable to shareholders of the company was 939 million yuan, up 1% year on year. (He Chang)