Tencent Music invests in virtual entertainment firm Wave

Tencent Music invests in virtual entertainment firm Wave

Tencent Music Entertainment Group has announced a strategic partnership and minority equity investment in Wave, which specialises in interactive virtual entertainment experiences.

Under the partnership, TME will be able to air Wave experiences in China across all of its platforms, including QQ Music, Kugou Music, Kuwo Music, and WeSing.

The collaboration will also enable the two companies to develop virtual concert content for TME Live, a live performance brand which integrates offline concerts with an online experience.

Since its launch in March 2020, TME Live has partnered with artists and brands. A TME Live Chinese presentation of Billie Eilish’s recent livestream will take place on November 21. 

To date, Wave has hosted more than 50 events including The Weeknd, John Legend, Tinashe and Lindsey Stirling.

“The collaboration with Wave marks an important step forward in our efforts to integrate technology and music, aiming to amplify the immersive music experience for our users, enhance user engagement and promote content consumption,” said TC Pan, group VP of content cooperation of TME. “With this strategic partnership, we will further extend the boundaries of music services through virtual performances, and build a broader music ecosystem.” 

“Wave is committed to bringing our interactive virtual entertainment experiences to music fans around the world, and TME is the ideal partner to accelerate these efforts,” said Jarred Kennedy, COO of Wave. “We share the belief that gaming technology will dramatically expand the breadth of possibility for creative expression and audience interaction in music, and we are thrilled to be collaborating with TME to build that future.”

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