U.S. Warner Music Acquires China’s Gold Typhoon Group

Posted: November 14, 2014 in Society and Culture

SOURCE: http://www.musicweek.com/news/read/warner-acquires-gold-typhoon-group-partners-with-tencent-holdings-in-china/060122

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Warner acquires Gold Typhoon Group, partners with Tencent Holdings in China

Warner Music Group has finalised its acquisition of Gold Typhoon Group, the Chinese entertainment company and record label with a 600,000 strong catalogue, as well as entering a partnership with internet company Tencent Holdings Ltd.

Tencent will distribute Warner’s catalogue and manage all new releases to Chinese audio services (excluding mobile carriers), overseen by Warner Music China. The partnership will also see Warner music distributed through Tencent’s instant messaging/micro-blogging QQ platform, which has 820 million users in China according to TechCrunch.

In a statement, Warner Recorded Music international president Stu Bergen said: “Since expanding our presence in China with the acquisition of Gold Typhoon, we have focused on establishing market-moving partnerships with innovative players such as Tencent that are successfully harnessing the incredible demand for music in one of the world’s most rapidly changing territories.

“Our exceptional teams have forged this partnership to help advance licensed music services and create new artist development possibilities. Providing music fans with access to high-quality music, and the right mix of regional and global artists, will be integral to the growth of the digital music sector in China.”

Tencent SVP Dowson Tong said: “Leveraging WMG’s rich portfolio of artists, this strategic partnership will offer fans in China an extensive stream of entertaining and high-quality music content that is well-managed and protected under the license agreement.

“We are looking forward to integrating the music from WMG’s talented artists into our products and services, bringing the user experience and enjoyment to a new level.”

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