News Snapshot:
Sony Music Entertainment announced on Monday “a direct digital distribution relationship” with NetEase Cloud Music, a unit of Chinese video games giant NetEase, to effectively end an exclusive licensing deal in mainland China with Tencent Music Entertainment (TME). Under the agreement, NetEase will make Sony Music tunes available to mainland Chinese users and explore other areas of collaboration, including music vlogs – or what it calls Mlogs – and online karaoke with smartphones. Sony Music also said it has agreed to a “multi-year extension” of its digital distribution deal with TME. New York-based Sony Music is the last of three...
