Ten­cent, Alibaba in mu­sic deal

Global Times US Edition - - BIZUPDATE -

Ten­cent Mu­sic and En­ter­tain­ment Group (TME), Ten­cent’s mu­sic unit, has reached a copy­right swap agree­ment with Ali Mu­sic that ex­pands their shared mu­sic cat­a­logue to more than 1 mil­lion tracks, ac­cord­ing to a state­ment TME sent to the Global Times on Thurs­day.

Af­ter the deal, the two plat­forms will have ac­cess to each other’s stream­ing ser­vice cat­a­logs. For ex­am­ple, Ali Mu­sic will be granted the rights to stream tracks from lead­ing record la­bels such as Uni­ver­sal, Warner and Sony, the state­ment noted.

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