Tencent gives up music label exclusivity amid antitrust crackdown
Tencent has given up all exclusive music licensing rights after China’s top market regulator ordered it to relinquish them last month, the company said on Tuesday. The Chinese tech giant owns more than 80% of exclusive music library resources in China. Tencent said in a statement that it had notified all exclusive music partners as of Aug. 23, the deadline set by the State Administration for Market Regulation on July 24. [Tencent press release, in Chinese]Read More
0
