China’s Tencent Has Formed an Electronic Dance Music Label with Sony [Fortune]
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Source: Fortune
A crowd of Chinese youths cheer as DJ Benny Benassi plays at the Storm Music Festival, a gathering of big names in electronic music in Shanghai, China on 12 December 2013. Qilai Shen Corbis via Getty Images By Casey Quackenbush 12:54 AM EST Tencent Holdings (tctzf) announced on Wednesday that it is teaming up with Sony Music Entertainment to launch a new record label for electronic dance music in Asia, where the genre has gained enormous popularity. The move marks the Chinese company’s first foray into owning a music label and comes ahead of the highly anticipated initial public offering of its music arm, Hong Kong’s South China Morning Post reports. Called Liquid State, the label aims to promote electronic music in Asia by signing talent both in the region and from around the world. Tracks will stream exclusivel
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