By John Glenday

Tencent Music has paved the way to an expected $10bn IPO by signing a rights deal with Alibaba, strengthening its position within the important Chinese market.

Under the terms of the deal Alibaba will gain the right to stream music from international labels such as Sony and Universal Music, which already have exclusive deals with Tencent, in return for offering reciprocal rights to its catalogue of Chinese and Japanese music.

China’s fast-growing streaming market is evolving rapidly as it transitions from physical media (often counterfeit) toward licensed streaming services offering copyrighted content, Read full story ›

Source: The Drum