Universal Music Group has signed two important, direct licensing deals in China – one with Tencent Music Entertainment, and the other with TME’s biggest competitor, NetEase Cloud Music. In addition to announcing these deals today (August 10), UMG has also taken the wraps off a new as-yet-unnamed JV label, which it is launching with TME.
Source: Universal signs two major deals in China – as it launches new label with Tencent Music