Tencent is Ordered to Give Up Exclusive Rights
The State Administration for Market Regulation also referred as SAMR, fined technology company, Tencent, 500,000 yuan, which is $77,141 in US dollars, for the acquisition of China Music, in 2016. It is said that Tencent owns more than 80% of exclusive music library resources. They are ordered to comply with the requirements to be fair with their competitors to be able to obtain exclusive deals with copyright holders. They have 30 days to cease exclusive music rights and then ill have to report their progress every year for the next three years. They will be under a tight microscope and it’s all fair in music and tech.