Sony’s NetEase deal is the latest to shift power away from TME in China’s streaming industry and make the space slightly more competitive. It comes amidst a government antitrust probe of TME and its parent company Tencent Group. TME announced its quarterly results on Monday and acknowledged that regulators are taking a growing interest in its business.
Source: Sony Music Breaks From Exclusive China Licensing Agreement to Sign with Both Tencent and NetEase