Sony Music And Chinese Streaming Giant Tencent Unveil New EDM Record Label "Liquid State"
Sony Music is one of the "Big Three" major record labels which dominate the music space these days. And, according to reputable sources, Sony just got a whole lot bigger! Sony Music, in partnership with Chinese streaming/tech-giant Tencent Music Entertainment, has just collaboratively created what is to become a massive EDM record label aptly dubbed Liquid State. The electronic dance imprint plans to have its primary base in Asia, and will focus on emerging artists within that field (EDM) and territory (Asia); however, they are stated as having an interest in eventually working with talent from all over the world.This power-move comes in response to Asia-based EDM festivals drawing massive crowds and growing exponentially within the last three years. A Neilson report showed that 64% of respondents in the Asia Pacific region exclusively listened to EDM; this number is eclipsed by 74% in Korea; Liquid State will fill this need. The EDM label is positioning itself to deliver the goods via developing original content, which will be backed by Sony's powerful capability, and subsequently driven throughout Tencent's powerhouse of streaming services QQ Music, Kugou Music, and Kuwo Music. This is truly a massive move, as Tencent claims to have "twice as many paying customers as Spotify" on its services; the company additionally claims to have deals with three major labels.That the company is embarking deal of this magnitude is not very surprising, as Tencent's parent company, Tencent Holdings, was identified as the "Most Valuable Company" in Asia, in 2016. Additionally, the company's influence is further maximized by having Multi-Platinum selling artist, Alan Walker—who is huge in China—as an integral part of Liquid State; the artist entered the global music scene with his single "Faded", which to-date has sold more than 9.4 Million units, and has been streamed over 1.6 Billion times!As we can effortlessly gather, Liquid State plans to have a strong presence throughout Asia. The company has already named three Asian pop-giants to serve as ambassadors:
- Chris Lee: Chinese Mainland Ambassador
- Nicholas Tse: Hong Kong and Taiwan Ambassador
- Seungri (Big Bang): South Korea Ambassador
This deal will likely spell significant shifts throughout the global music community; the company isn't the least bit shy about making this known. Cussion Pang, CEO of Tencent Music Entertainment Group states, "With the formation of Liquid State, our goal is to create an unmatched culture exchange between the East and the West through the power of electronic dance music". On a scale of any size, that is a big-idea; however, with companies as massive as these two, big-ideas are not far-fetched ones.