Tencent Music Entertainment Group and Kobalt Music Group Enter Strategic Licensing and Distribution Deal

Rhea-AI Summary

Tencent Music Entertainment (TME) has partnered with Kobalt Music Group to license and distribute Kobalt's publishing and AWAL recording catalogs on TME's streaming platforms. This strategic cooperation aims to enhance TME's presence in live music events, online streaming, and other music-related fields globally. Kobalt represents over 25,000 songwriters and 20,000 independent artists, including renowned musicians. The collaboration seeks to drive digital transformation in music, providing users with diverse content and innovative solutions for artists, while fostering growth in the global music industry.

Positive

• Strategic partnership with Kobalt enhances TME's music catalog and market reach.
• Access to Kobalt's extensive roster of 25,000 songwriters and 20,000 independent artists.
• Collaboration aims to innovate within the digital music ecosystem, benefiting both artists and fans.

Negative

• None.

SHENZHEN, China, Aug. 13, 2020 /PRNewswire/ -- Tencent Music Entertainment Group (TME) (NYSE: TME) and Kobalt Music Group announced they have officially reached a strategic cooperation to license and distribute the Kobalt publishing and AWAL recording catalogs on TME's streaming platforms.

With its strategic position across the entire music entertainment industry value chain, TME will help Kobalt to simultaneously expand to concerts, music festivals, online live streaming and more fields, in order to effectively meet the music needs of fans all over the world.

Kobalt Music Group's content will now be available through TME's QQ Music, Kugou Music, Kuwo Music and Wesing. In the future, the two parties will join hands in content, to deepen the development of music IP and explore potential new artists.

As one of the biggest independent publishers and recording companies, Kobalt represents over 25,000 songwriters, 600 publishers, and 20,000 independent artists.

The most iconic and exciting musicians in the world call Kobalt home, including Childish Gambino, Dave Grohl, Enrique Iglesias, Lauv, Lorde, Zayn Malik, Marshmello, Max Martin, Paul McCartney, Elvis Presley, The Weeknd, and more. The company's recording division, AWAL, includes Allie X, Bruno Major, FINNEAS, Lauv, and more, many of which are well-known to Chinese fans.

Globally, Kobalt Music, as an emerging music service company, is actively embracing the trend of digital transformation. TME said that it is willing to join hands with Kobalt Music to cultivate in the digital music content ecosystem, help musicians to obtain greater value, provide users with more rich and diverse music content, and also bring innovative inspiration to the industry.

"Innovation is in the DNA of both Tencent Music Entertainment and Kobalt," said Founder and Chairman of Kobalt Music Group, Willard Ahdritz. "We look forward to our partnership and driving the next phase of the digital marketplace transformation and working with TME on a bigger scale."

"I'm excited to continue our commitment to the Chinese music market," said Laurent Hubert, CEO of Kobalt Music. "With TME's expansive user base and our all-star roster, we look forward to many creative and commercial opportunities for our artists, songwriters and partners."

Bob Bruderman, EVP, Digital Partnerships at Kobalt Music Group also said, "This is a great step for our musicians, as well as their fans. We are honored to be partnering with TME, and look forward to exploring new innovative forms of business and collaboration. "

With the cooperation between Tencent Music Entertainment Group and Kobalt Music, the two parties will combine their strengths through the entire music industry chain, with high-quality music content at the core driving the creation of music value, jointly providing better music for fans around the world, while helping the development of the global music industry.

About Tencent Music Entertainment

Tencent Music Entertainment Group (NYSE: TME) is the leading online music entertainment platform in China, operating the country's highly popular and innovative music apps: QQ Music, Kugou Music, Kuwo Music and WeSing. TME's mission is to use technology to elevate the role of music in people's lives by enabling them to create, enjoy, share and interact with music. TME's platform comprises online music, online karaoke and music-centric live streaming services, enabling music fans to discover, listen, sing, watch, perform and socialize around music.

For more information, please visit https://www.tencentmusic.com/

Media Contact:
Edmond Lococo, ICR Inc.
e-mail: TME.PR@icrinc.com
Phone: +86 138-1079-1408

 

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SOURCE Tencent Music Entertainment Group

FAQ

What is the significance of the TME and Kobalt Music partnership?

The partnership allows TME to license and distribute Kobalt's extensive music catalogs, enhancing its streaming content and market presence.

How does the TME and Kobalt Music deal affect TME's stock?

The deal could positively impact TME's stock by expanding its music offerings and attracting more users to its platforms.

When was the TME and Kobalt Music partnership announced?

The TME and Kobalt Music partnership was announced on August 13, 2020.

Which platforms will feature Kobalt's music catalog?

Kobalt's catalog will be available on TME's QQ Music, Kugou Music, Kuwo Music, and WeSing platforms.

What types of artists are represented by Kobalt Music?

Kobalt Music represents a wide array of artists, including notable names like Childish Gambino, Zara Larsson, and Paul McCartney.