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Tencent axes all exclusive label deals in China following antitrust clampdown – Music Business Worldwide

September 2, 2021
Source: techilive.in techilive.in
News Snapshot:
Education Tencent axes all exclusive label deals in China following antitrust clampdown – Music Business Worldwide By Nick J Adam On Sep 2, 2021 0 Share Tencent Holdings and its majority-owned music arm Tencent Music Entertainment have ended all exclusive deals held with global labels in China. After being hit with an exclusivity ban by China’s State Administration of Market Regulation (SAMR) in July, Tencent published a statement on WeChat on Tuesday (August 31) announcing that as of August 23, it had officially written to all “upstream copyright” holders to end their exclusive agreements. In July, Tencent was fined 500,000...
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