The Victor Entertainment Group, based in Tokyo, and Beijing-based Taihe Music Group announced a strategic partnership between the two major music groups on Oct. 17 at the Ex Theatre in Tokyo. They will collaborate on activities in the Greater China market.
The strategic partnership will specifically focus on the exclusive digital distribution in China of Victor Entertainment’s catalog, as well as opportunities in live entertainment, merchandising and fan club business throughout Greater China. The two major music groups anticipate launching their collaboration in early 2019.
Timothy Xu, CEO of Taihe Music Group told Billboard, “This partnership is based on my 20-year relationship and mutual trust with Mr. Masaaki Saito, president of Victor. We collaborated 20 years ago, to introduce a Japanese music program to China, garnering top market share and attention. The success was based on our joint efforts and a mutual understanding of what each was trying to achieve. This long-standing trust and past success also laid the foundation for our partnership today.”
Victor’s President Saito said in a statement, “It is with great excitement that we announced yesterday our newly-formed strategic alliance with Taihe Music Group which will encompass various sectors of music business including live entertainment, digital distribution, merchandising, and fan club operations. We have been very impressed by Taihe’s enthusiasm and commitment to working with us and our artists by engaging in promotion and marketing and breaking them in the Chinese market. We are thankful for this opportunity and hope that our new relationship will bring much success to the respective parties as well as our artists.”
The two music groups have similar backgrounds, with both having long histories and deep catalogs. Victor Entertainment group, one of Japan’s largest and most successful independent music conglomerates, is home to some of the top artists in the Japanese market. Victor Entertainment has multiple labels including, Victor, Speedstar, Getting Better, Colourful and Connectone, covering genres such as rock, hip-hop, pop, Enka and EDM, with a long tradition of breaking innovative new artists. Victor is one of the top four music groups in Japan, with labels, artist management, artist services, music publishing and full service distribution.
Taihe is a leading music service provider in China, and is one of the largest distributors of Chinese music in the world. Taihe currently owns and operates nine music labels, and has cooperation deals with hundreds of artists well known in the Chinese-speaking world. It has a reputation of creating quality original music and content. Taihe has, via either full ownership or distribution deals, the largest Chinese music catalogue, and distributes it across all the carrier platforms, online music platforms, public music platforms, mobile entertainment devices, as well as film and television networks. Taihe is also a leader in the business of live performance both in large concerts and smaller live venues, and has various key online fan platforms and online ticketing services in China.