Music Licensing Deal Puts Tencent, Alibaba in Harmony
Internet giants Tencent and Alibaba have agreed to share music-streaming licensing rights for the first time, in a landmark move that counters growing concerns over fragmentation and skyrocketing fees in China’s online entertainment industry.
Under the deal, Tencent Music and Entertainment Group will allow songs it holds exclusive licensing rights for to be streamed by users of a rival service operated by Ali Music Group, the pair announced Tuesday. In exchange, Tencent will get similar rights for content licensed exclusively to Ali Music.
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