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Tencent Music Pairs With Korea's SM Entertainment
Liao Shumin
DATE:  Jan 31 2019
/ SOURCE:  yicai
Tencent Music Pairs With Korea's SM Entertainment Tencent Music Pairs With Korea's SM Entertainment

(Yicai Global) Jan. 31 -- Tencent Music Entertainment Group will cooperate with Korea's SM Entertainment on its twitter-like Sina Weibo account.

Tencent Music's music platforms QQ Music, Kugou and Kuwo will have access to SM Entertainment's music resources from Feb. 1, the Chinese firm announced yesterday.

SM will continue to promote and publish its music in China, it announced at the same time on its own Weibo account.

Seoul-based SM is one of the three major entertainment firms and the largest agency service provider in Korea. Formed in 1995, it rose to fame by popularizing K-pop and taking it global. The name is an abbreviation of 'Star Museum.'

SM has signed such artists as Ahn Chil-hyun, Kwon Bo-ah and Oh Ji-Min, and groups of the ilk of TVXQ, Super Junior, EXO, Girls' Generation and The Grace, according to public data.

Shenzhen-based Tencent Music [NYSE:TME] listed in the US in December last year. The company now has more than 200 domestic and overseas music brands and over 20 million songs, its prospectus shows. Its partners include the world's top three record companies Warner Music Group, Sony Music Entertainment and Universal Music Group, as well as Emperor Group and China Record.

Kugou's monthly active users reached 350 million in July last year, while those of QQ Music and Kuwo totaled 290 million and 130 million, respectively.

The three applications have captured over 90 percent of users in the online music sector, while Tencent Music's karaoke app Quanmin K Ge has netted over 90 percent in the online karaoke branch, data by Beijing-based mobile internet market researcher QuestMobile shows.

Editor: Ben Armour

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Keywords: Tencent