GMM Music Announces Strategic Partnership with Tencent Music Entertainment Group and Tencent, with a Strategic Investment Valuing GMM Music at $700 Million USD - PR Newswire APAC
Summary
The investment will solidify our spin-off plan, with an ambition to drive the New Music Economy in Thailand towards sustainable growth. The company will make advances in the Music and Digital Businesses, which is the key driver for growth in the future of music industry, and expand in the Artist and Showbiz Businesses, bringing our talents to Asia and to the World through networks of global outreach from both TME and Tencent. Together, we have ambitions to Uplift Quality of the Thai music economy with world-class production resources and collaborations. By combining forces, our possibilities of synergies will significantly Unlock the True Value of GMM Music. Fundamentally, we also strive to drive sustainable growth with continuous exchange of competencies and know-how, extending markets and sales beyond territories, and contributing deep resources in user insight and technology for future music innovations.