Tencent, Sony establish new label for electronic dance music in Asia
The new strategic partnership with Sony Music Entertainment is likely to burnish the credentials of Tencent’s music arm, which is expected to pursue its initial public offering this year
Tencent Holdings and Sony Music Entertainment have joined forces to launch a new label for electronic dance music in Asia ahead of the anticipated initial public offering of the Chinese internet company’s music subsidiary this year.
The new music label, Liquid State, will sign up electronic dance music talent across the region and collaborate with other artists from around the world.
“Our goal is to create an unmatched culture exchange between the East and the West through the power of electronic dance music. It is a music genre like no other,” said Cussion Pang, the chief executive of Tencent Music Entertainment Group.
The announcement of the new label follows separate initiatives by online search firm Baidu, e-commerce provider Alibaba Group Holding and Tencent – the Chinese hi-tech triumvirate collectively known under the acronym BAT – to expand original digital content offerings in the world’s largest internet market.