World’s largest e-commerce firm Alibaba on 31 March 2015 signed digital distribution deal with Germany’s music rights group BMG in a bid to become a digital media empire.
The deal will bring more than 2.5 million copyrights to Alibaba, whose music platforms already had many of the songs from artists including Kylie Minogue, the Rolling Stones and Jean-Michael Jarre.
The digital Entertainment arm of Alibaba will promote BMG writers and artists through channels such as its streaming apps Xiami and TTPod.
Alibaba has set its eyes on becoming an online-media powerhouse, with music, film and television. The 210 billion US dollar firm has touted the potential for selling digital products as well as physical products in China, despite the country's track record of users not paying for media content.
BMG in November 2014 linked up with Chinese independent company Giant Jump to manage publishing and recording rights both at home and overseas.
BMG is an international music company focused on the management of music publishing, recording rights and music distribution. The company operates as a wholly owned subsidiary of the international media conglomerate Bertelsmann, its name being the legacy of the former BMG, which was sold to Sony Music Entertainment in 2008.
Currently, BMG is the fourth-largest music publisher in the world based on revenue.
What: Alibaba signed it
When: 31 March 2015