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China Music, Tencent merge digital music businesses

2016-07-15 11:33:00| Telecompaper Headlines

(Telecompaper) China Music and Tencent's QQ Music unit have jointly announced a merger of their digital music businesses. The move is designed to provide upgraded online music streaming services to users, as well as foster an industry structure built upon authorized music rights and a freemium business model in China, the partners said. The merger combines Tencent's QQ Music service with CMC to form a new company, where Tencent will become the majority shareholder.

Tags: music china digital businesses

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