TME establishes strategic partnership and invests in Wave
In an announcement made by Tencent Music Entertainment (TME) Group, the Chinese music platform has developed a strategic partnership and invested in Wave - a leading interactive virtual entertainment experience company.
As part of the partnership TME will be able to air Wave’s experiences in China across all its platforms, including: QQ Music, Kugou Music, Kuwo Music, and WeSing. In addition, the collaboration is said to allow the two organisations to develop virtual concert content for TME Live, as well as innovative promotional approaches, build high quality content, and develop an interactive, unique and emerging concert experience.
Since launching in March 2020, TME has attracted renowned and iconic artists and sponsorships, as well as offering VIP packages and virtual gifts for users. The company's latest partner Wave, harnesses cutting edge broadcasting technology and real time gaming graphics to transform artists into digital avatars that can be livestreamed for fans.
"The collaboration with Wave marks an important step forward in our efforts to integrate technology and music, aiming to amplify the immersive music experience for our users, enhance user engagement and promote content consumption.With this strategic partnership, we will further extend the boundaries of music services through virtual performances, and build a broader music ecosystem,” said TC Pan, Group Vice President of Content Cooperation of TME.
"Wave is committed to bringing our interactive virtual entertainment experiences to music fans around the world, and TME is the ideal partner to accelerate these efforts," added Jarred Kennedy, COO of Wave. "We share the belief that gaming technology will dramatically expand the breadth of possibility for creative expression and audience interaction in music, and we are thrilled to be collaborating with TME to build that future."
To provide its services, currently TME leverages advanced resource integration, promotion and distribution capabilities to “unlock the value of music.”
For more information on business topics in Asia Pacific, Australia and New Zealand, please take a look at the latest edition of Business Chief APAC.
