Tencent Music Entertainment has forged an alliance with US music media brand Billboard to promote the development of Chinese music globally.
The two companies aim to “bring the diverse stories of Chinese musical artists to the fore on a vast global stage,” through an initiative called the “Chinese Music Gravity Project,” TME said in a statement on Wednesday (August 31), without providing further details. details in said initiative.
In turn, Billboard’s global content, including charts, music news coverage and recommendations, will be available on TME’s platforms, including QQ Music, Kugou Music, Kuwo Music and WeSing.
The companies will integrate TME’s technologies and knowledge in the Chinese music industry with Billboard’s global presence to promote the impact of Chinese music in the world.
“TME will provide high-quality content for music lovers and enhanced professional services for the Chinese music industry. Our jointly launched project will bring world-class Chinese music to an international fan base,” said TC Pan, Vice President of Content Cooperation Department of TME.
Speaking of the agreement, Billboard Chairman Mike Van said, “We are delighted to partner with TME to promote the global development of Chinese music…Billboard is committed to uplifting emerging artists around the world, and we couldn’t have asked for more. launch partner than TME, a company that, like us, puts artists and fans at the center of everything.
The partnership comes less than a month after Billboard launched its China branch.
Billboard China launched on August 8 to allow Chinese musicians “to share their art and unique sound with a global audience,” Van said in an earlier statement.
“TME will provide high-quality content for music lovers and enhanced professional services for the Chinese music industry. Our jointly launched project will bring world-class Chinese music to an international fan base.
TC Pan, Tencent Music Entertainment
For TME, the deal with Billboard marks its latest attempt to bring Chinese tracks to the global stage after signing a deal with Apple Music in late 2021.
China is positioned as the sixth largest music market in the world, behind the United States, Japan, the United Kingdom, Germany and France, according to data from IFPI.
“Billboard is committed to elevating emerging artists around the world, and we couldn’t have asked for a better launch partner than TME, a company that, like us, puts artists and fans at the center of everything. “
Mike Van, Billboard
TME operates the largest music streaming platforms in China. In the second quarter, it added 2.5 million paid users, ending the first half with 82.7 million paid subscribers, while rival NetEase Cloud Music was far behind with just 37.6 million paid users. , up 872,000 from the first quarter.
Speaking about TME’s deal with Billboard, the company said it will continue collaborations with global players to bring more resources and international exposure opportunities to China with the aim of providing support to local musicians. and to advance the global value of Chinese music.
However, China’s music streaming industry continues to face regulatory headwinds.
Last year, TME had to back out of its exclusive music licensing deals, bowing to regulatory pressure from Beijing. It comes as TME had consolidated its market dominance for years, owning more than 80% of China’s exclusive music library resources, raising eyebrows among antitrust regulators.The music industry around the world