Tencent, NetEase Press ‘Play’ on Music-Sharing Agreement

Online music platforms Tencent Music and NetEase Music have signed an agreement to share with each other over 99% of the songs to which they hold exclusive licenses, according to a statement by China’s National Copyright Administration.

The deal comes amid a national campaign to regulate the distribution of music copyright in China, after licensing fees skyrocketed in recent years due to companies fighting for exclusive rights.