JYP Entertainment has signed a strategic partnership with Tencent Music Entertainment Group (TME) to secure music distribution rights for their artists.
According to the joint press release made by the two companies, JYP Entertainment and TME have signed a partnership for JYP Entertainment artists to have their artists’ music distributed on TME’s platform.
We will sign a partnership contract with TME, China’s leading online music platform company. We plan to secure a way to distribute various contents from our artists, including music, and develop various business models.
We aim to contribute to the development of K-Pop by providing not only our artists’ music, but also other quality content to music fans around the world, following the trend change and innovation.
— JYP Entertainment
TME’s network of music platforms includes QQ Music, Kugou Music, Kuwo Music, and WeSing. The two companies are expected to maximize their synergy by creating various music entertainment services, such as joint marketing, live-stream events, and other promotional material. TME also commented on the partnership, sharing their excitement at the partnership.
We are happy to be working with JYP to create more valued content and provide it to hundreds of millions of Chinese music fans and listeners. JYP is Korea’s top record label with excellent artists, and they have drawn positive reviews from the younger generation, including music fans on our platform. Based on TME’s outstanding research, online music marketing, and recommendations, this strategic partnership will not only give our users a different music experience, but also upgrade the cultural exchange of K-Pop via JYP’s artists.
Through this collaboration, JYP Entertainment’s artists, including 2PM, J.Y. Park, DAY6, TWICE, Stray Kids, and ITZY are expected to expand their influence in China and perform more activities in the region.