Comment on Universal Music Breaks From Exclusive China Licensing Agreement to Sign With Both Tencent and NetEase

Universal Music Breaks From Exclusive China Licensing Agreement to Sign With Both Tencent and NetEase

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, breaking the past precedent of signing exclusively with the former. The move signals a shake-up in the major labels’ approach to the Chinese market.

 

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