Music company with headquarters in Paris Believe signed a renewal agreement with Chinese music platform Tencent Music Entertainment (TME) and its rival NetEase Cloud Music.
In a media statement announcing the deals, Believe said that they “have been a long-term partner of both platforms since the early stages, and the renewed agreements will provide more opportunities to develop new technologies.” national and international artists on platforms”.
Tencent Music Entertainment (TME) operates music and music-focused social entertainment services with more than 800 million users, through mobile applications such as QQ Music, Kugou Music, Kuwo Music and WeSing.
Tencent Music reached 76.2 million paying users in the fourth quarter of 2021 (ends 31 December), up 36.1% over the same period last year.
NetEase Cloud Music, meanwhile, end of 2021 with 182.6 million MAU, up from 180.5 million in 2020.
The service also had 28.9 million monthly paying users at the end of 20121, up from 16 million in the same period in 2020.
Believe has been operating in China since 2016 and says it is “one of the first international companies to sign distribution contracts with local platforms”. It added that it “massively accelerated investment.” [in China] in 2018 as the market matures”.
Tin says it now represents thousands of artists and hundreds of local labels.
The company also claims to be one of the first to provide daily stream statistics from TME and NetEase Cloud Music to labels and artists.
The news cites Chinese singer Young Captain as one of the “key customers” and success story of Artist Service in China.
The music company says he’s grown his fan base from 50,000 to 1 million on TME, with a record 200 chart hits on TME.
Additionally, Believe says he’s grown his audience from 300,000 to 2.7 million on NetEase Cloud Music to date since he started releasing music through Believe in May 2021, including his whole album Young Captain’s Musical World and many singles.
“China is one of the most domestic music markets in the world, with strong consumption by local artists, by local audiences on local platforms, this couldn’t be more relevant. with Believe’s vision and core values of supporting local activities in their markets.
Sylvain Delange, Trust
Sylvain Delange, Managing Director, APAC at Believe, said: “We are pleased to renew our deals with both TME and NetEase Cloud Music.
“China is one of the most domestic music markets in the world, with strong consumption by local artists, by local audiences on local platforms, this couldn’t be more relevant. with Believe’s vision and core values of supporting local activities in their markets.
“I am excited at the opportunities these partnerships will open up for our brands and artists, allowing them to reach a broader new audience, and look forward to growing. our business in China further in the future.”
In December, Sylvain Delange tell MBW about Believe’s strategy in the APAC region, how its recent acquisitions are driving growth, and how the company is building relationships with local labels and artists.
Tencent start cooperation to distribute Believe content in Mainland China in 2015.
Subject to the terms of that agreement, Tencent became Believe’s exclusive Chinese partner to distribute more than 6 million repertoires songs on its QQ Music platform and for sub-management–business licensing for local online music service supplier in mainland China.
In July last year, Tencent Music and majority owner Tencent Holdings were ordered to give up exclusive contracts held with global brands in China after TME investigated, in 2019, to enter into exclusive licensing agreements with the three major record companies in the territory.
TME previous transaction occurred with Popular music, Music by Sony and Warner Music that allows it to license the music of professionals to its own platforms, but also to sub-exclusively sub-license these categories to local competitors.
The platform’s latest licensing agreements with Universal and Warner no longer owns proprietary sub-licensing rights, allowing these companies to conduct separate direct deals with TME’s biggest competitor in China, NetEase Cloud Music.
NetEase Ink licensing deals with Music Warner Chappell in May 2020, UMG in August 2020 And after that Sony Music Entertainment in May of last year.
This week, NetEase Cloud Music to sue its rival Tencent Music over claims of ‘unfair competition’.Worldwide music business
