Rebecca Davis editorUniversal 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. Until now, UMG, Warner Music and Sony Music Entertainment had each signed a single, exclusive licensing deal in China with TME, which then sub-licensed its catalogs out to its rivals, including NetEase.
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