Too much of a good thing? Tencent and its 80% market share in
exclusive music copyright
腾讯解除网络音乐独家版权
Date: 2021-08-31
Trying to increase your market share in China please? If
that's what you have in mind, then be mindful of the recent
news where the Chinese tech giant Tencent in compliance with orders
from the State Administration for Market Regulation, waived its
exclusive right to music copyrights.
On 12 July 2016, Tencent invested in China Music Corporation
("CMC"), acquiring 61.64% of total shares in CMC and thus
gaining the sole control of CMC ("the Merger Deal"). In
December 2016, the merged entity was renamed Tencent Music
Entertainment Group. On 6 December 2017, the Merger Deal was
completed. In January 2021, based on a tip-off, the State
Administration for Market Regulation ("SAMR") initiated
an investigation into the Merger Deal, suspecting Tencent of
engaging in unlawful acts of concentration of business
operators.
