Tencent Music Entertainment Group, the music arm of Tencent Holdings, on Wednesday announced jointly with Sony Music Entertainment plans to set up a new music label, a first for Tencent.
The new label, called Liquid State, will promote electronic dance music by showcasing Asian and international DJs in a genre that Tencent Music chief executive Cussion Pang said was getting increasingly popular in Asia.
Tencent, China's largest gaming and social media company, competes against Alibaba Group and NetEase Inc for China's growing digital music market.
