Tencent Music Entertainment Group and Universal Music Group Agree to Multi-Year Licensing Agreement Extension and Establishment of New Joint Venture Music Label in China

SHENZHEN and LONDON, Aug. 10, 2020 /PRNewswire/ -- Tencent Music Entertainment Group (TencentMusic or TME, NYSE: TME), the leading online music entertainment platform in China and Universal Music Group (UMG), the world leader in music-based entertainment, today announced a multi-year extension of their licensing agreement.