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AN INSTRUMENTAL INVESTMENT
10/28/20

Tencent has purchased a minority stake in U.K.-based data-driven A&R platform, Instrumental. The investment will allow the company to expand its business in China and grow its label and publishing services.

As part of the deal, Tencent Holdings and Tencent Music Entertainment Group will both hold a minority stake in the business, alongside existing investors, U.K. venture builder Blenheim Chalcot and Warner Music U.K. 

In addition, Instrumental—which is used by all three majors and Live Nation—has entered into an exclusive relationship with TME in China, which aims to benefit the roster of independent artists licensing tracks into its frtyfve branded label services and publishing arm by reaching new audiences.

“This deal will allow Instrumental to accelerate our commitment to becoming an ‘artist first’ business, delivering insights and partnerships directly to the great talent discovered by our app,” Instrumental CEO Conrad Withey said. “That includes expanding our label and publishing services but also launching new products that meet the needs of high growth artists at the earliest stages of building a career in the music business including merchandise, digital live events and brand partnerships.”

 

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