Warner Music Group moves into China with new acquisition
Warner Music Group (WMG) is looking to expand its horizons and markets, continuing to look into new areas for business opportunities. The latest step is a move into China with the announcement of an acquisition of Gold Typhoon's music catalog and artist roster.
In a press release, WMG refers to Gold Typhoon as "one of the most successful independent music companies operating in the Greater China Region". The label operates in China, Hong Kong and Taiwan and hosts some of the most popular pop and rock artists in the region.
"Gold Typhoon’s unique and wide-ranging repertoire makes it a jewel in East Asia’s musical culture. We look forward to welcoming this prestigious catalog and these dynamic artists, and relish the opportunity to create new regional and global possibilities for this iconic collection of music. This landmark deal will complement our existing strengths and expand WMG’s potent presence in these rapidly evolving and flourishing music markets", says Lachie Rutherford, president WMG’s Asia Pacific region.
This is the latest in a string of acquisitions that includes Gala Records in Russia and Parlaphone and its affiliates in Eastern Europe, along with Gallo Records in South Africa.
All of this is an effort to gain a foothold with local music in regions globally, and should make the music more accessible to customers who now reside in other parts of the world, via online streaming and download services.