News - 01/02/2018

Sony and Tencent join forces to launch a record label together in Asia

Sony and Tencent join forces to launch a record label together in Asia

Sony Music and Chinese giant Tencent launched a label together: it's called  Liquid State and it has a core focus on EDM and electronic music across Asia. The label will also locally get involved in live touring and nightclub events.

Tencent Music Entertainment (TME), in December, closed a stock swap deal whereby it acquired a 10% stake in Spotify. As part of the deal, Daniel Ek’s company also took ownership of a tenth of equity in TME. This means that Sony has just launched a label with a company part-owned by Spotify. And like Universal, Warner and Merlin, Sony is itself a minority stake holder in Spotify.

Tencent-owned media channels such as WeChat, QQ, Tencent Video and QZone will actively support Liquid State and its artists. Tencent will also push the artists on its digital music channels such as QQ Music, Kugou Music and Kuwo Music.

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