Web Commerce Giant Alibaba Set to Launch a New Music Division
Watch out Spotify.
Chinese web commerce giant Alibaba recently announced it will launch a new music division following the closures of its streaming apps Xiami and Tiantian. Having struck a distribution deal with BMG earlier in the year, which includes recordings from artist like Black Sabbath, Kylie Minogue, Bruno Mars and The Rolling Stones, this is the latest move in an effort to expand its influence in the fast-growing streaming market. It will be headed by former Warner Music Executive Song KE and singer-songwriter Gao Xiaosong, and already has access to 2.5 million song copyrights, in addition the Internet space and big data its parent company can provide which is something that many of its domestic competitors don’t have access to. Do you guys think that this new venture will pose a legitimate threat to the international music streaming market? Let us know in the comments below.
