Tencent, NetEase Press ‘Play’ on Music-Sharing Agreement
The deal between Tencent Music and Netease Music (application picutred) will see them sharing 99% of the songs to which they hold exclusive licenses. Photo: VCG
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.
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