China’s Tencent Music Entertainment has entered into a strategic cooperation agreement with Thailand’s GMM Grammy. The move “represents a successful joint exploration of the Asian digital music entertainment market by both sides,” the companies said.
It will lean significantly on TME’s WeSing online karaoke social community, and allow co-creation of content by means of adaptation and covers.
GMM Grammy is the largest music company in Thailand, with a more than 80% market share. It is the label behind artistis including Bird Thongchai, Bie Sukrit, Christina Aguilar who have each sold more than 1 million units in the country. It also represents performers such as Bodyslam, Potato, Cocktail, Getsunova, Peck Palitchoke, Palmy, Atom, MeYou and Pam MBO who are familiar to Chinese fans. GMM also has a foothold in film and television broadcasting.
TME, which is backed by Tencent and is listed on the New York Stock Exchange, is China’s largest online music company. Its businesses range from music streaming to social music functions, including WeSing. It has entered previous strategic agreements with overseas labels including Japan’s Being and South Korea’s JYP, SM and YG. It has also introduced the works of overseas musicians Takuya Kimura, Arashii and Blackpink to Chinese music consumers.
“This partnership will integrate the strength of both parties. Leveraging the communication platform built by WeSing, GMM Grammy aims to extend our music content library and expand user interaction to broaden our vision in digital music entertainment,” said Phawit Chitrakorn, CEO of GMM Music at GMM Grammy.
“The strategic cooperation between TME and GMM Grammy aims at making sure Thai music entertainment culture represented by GMM Grammy is loved by more and more Chinese consumers. Through this cooperation, TME hopes to build a music ‘habitat’ for fans of Thai culture,” said an unnamed spokesman for TME in a prepared statement.