News - 27/03/2015

Chinese media company LeTV opens music subsidiary as market for legal services expands

Chinese media company LeTV opens music subsidiary as market for legal services expands

Chinese online video streaming platform LeTV has announced its first official foray into the music industry by establishing the LeTV Music Company in Hong Kong, TechInAsia reports. 

LeTV is no stranger to music, having already produced a substantial amount of original content as part of its video offering, focusing especially on 4K productions. 

The company is also expanding into the smartphone space and earlier this year Ubergizmo reported that LeTV is working on a special music smartphone, which in light of the new music division would make perfect sense. 

LeTV aims to leverage its existing platforms in order to integrate music as part of its distribution vertical. It is an ambitious plan and one that will find a number of competitors already standing in the way.

Legal music offerings in China are multiplying and include Xiami, QQ Music, Baidu Music and Douban, although the vast majority of the market is still dominated by unlicensed services and illegal filesharing.

 

(Andrea Leonelli) 

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