Wide Awake is thrilled to announce off their new partnership together with Chinese entertainment giant Tencent for the asian market. Tencent is the leading music company in China with their digital music services QQ Music, Kugou and Kuwo having over 700 million active users.
Understand the culture and spot trends
“In the past years we saw a great increase in traction for our artist on Chinese audio services . Although China isn’t a blackbox anymore, reaching the fanbase, understand the music culture and be on top of the trends is still a hard thing to do for most players in the still very western oriented music industry.” says Pim Oomen, head of business affairs at Wide Awake.
“With this deal in place, we can now provide our content directly, spot local music trends and reach listeners in a way that fits their preferences and culture.”
The Tencent deal is in line with the strategy of Wide Awake to constantly find interesting partnerships for it’s rightholders to expand the exploitation of their catalog. Strong partnerships mean mutual advantages for both parties involved and create opportunities to increase exposure around the globe.
Rise of the Asian market
With China entering the global top 10 in 2018, and in 2019 becoming the #7 biggest global market for streaming, income is definitely on the rise in Asia. Also South Korea – at number six – saw one of the highest rates of growth (17.9%) according to Music Business Worldwide.
“One of the most exciting aspects is the regions responsible for driving the growth. Asia and Australasia have grown 11.7% to become the second largest region globally for physical and digital revenue combined.”