Tencent Ends All Exclusive Music Deals After China Crackdown

Tencent announced that it had notified all parties involved in such agreements of a move, according to a statement published on its official WeChat account.

The company added it would continue to cooperate and engage with the parties in a non-exclusive way.

Chinese regulators have targeted Tencent and other Chinese tech giants in a widening crackdown that has focused on issues such as monopolistic behaviur, unfair competition, and consumer rights.

Related:  Tencent Ordered To Give Up Exclusive Music Licensing Rights

The State Administration Of Market Regulation last month ordered Tencent to give up exclusive rights to music labels, claiming the firm held more than 80% of exclusive music library resources which increased its leverage over upstream copyright parties and allowed it to restrict new entrants.

SAMR stated Tencent and its affiliated companies must not engage in exclusive copyright agreements with upstream owners of such rights, while existing agreements must be terminated within 30 days of the regulatory notice. It also fined the firm.

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.