Warner Music intends to break into the multi-billion-dollar Asian music market

By: Miguel A. Rodriguez

14:30, 24 March 2021

Tencent Music and Warner Music joined forces once again

The Chinese Tencent Music and the American entertainment behemoth Warner Music signed a multiyear agreement. The two companies are no stranger to each other, as they have been working together for the past decade.

The latter looks to push further into the ever-growing music market.  Simon Robson, Warner Music’s president of international, stated that this opportunity is making “our artist impossible to ignore.”

Warner is not the first group that made efforts to crack the Asian market. Last month, Universal closed a deal with K-pop record labels to break into South Korea. At the same time, it is working with Big Hit Entertainment to create a new label to scout and launch a new K-pop boyband.

While the American record labels are trying to gain recognition in Asia, Tencent invests in the US music market. The company bought a 2% stake in Warner Music, a 9% stake in Spotify, and a 20% stake in Universal Music.

Following the news, Tencent Music stock price gained 0.10%, while Warner went up 0.52%.

Sources: ft.com, bbc.com, finance.yahoo.com

Share this article

The information presented herein is prepared by capex.com/ae and does not intend to constitute Investment Advice. The information herein is provided as a general marketing communication for information purposes only.Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience, or current financial situation. 

Key Way Markets Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance and forecasts are not reliable indicators of future results.