Loeb & Loeb LLP advised Tencent Music Entertainment Group (TME), a leading digital music distribution platform in China, in connection with a landmark licensing agreement with Universal Music Group (UMG), the world leader in music-based entertainment. The multi-year agreement will significantly expand the Chinese music market and provide vast multi-platform distribution and marketing opportunities across China.
Under the terms of the agreement, TME will distribute music from UMG's roster of record labels and global recording stars on its streaming platforms QQ Music, KuGou and Kuwo. TME will also be UMG's master distribution and licensing partner to exclusively sub-license UMG's content to third-party music service providers in China.
The Loeb & Loeb deal team acting on behalf of TME in connection with the agreement was led by music and entertainment partner Debra A. White, with support from senior counsel Jonathan B. Altschul and John T. Um.
In China, TME is one of the largest music platforms, providing over 17 million songs to 600 million monthly active users. TME is a strong advocate of authorized music and has earned industry recognition for driving growth in the digital music industry, with more than 15 million paying subscribers.
UMG represents one of the most comprehensive catalogues of recordings and songs across every music genre. The company identifies and develops artists, and produces and distributes the most critically acclaimed and commercially successful music in the world.