China: SAMR concludes investigation into Tencent for anti-competitive practices in the music industry

On 24 July 2021, China's State Administration for Market Regulation (SAMR) concluded the investigation into tech giant Tencent Holdings for anti-competitive practices in music licensing. According to SAMR, Tencent's acquisition of China Music Group in 2016 had given it a high market share of approx. 80%, allowing it to restrict competition and raise market entry barriers. Therefore, SAMR ordered Tencent to waive its exclusive music copyrights within 30 days, and - for the first time in SAMR enforcement history - take actions to restore competition in the market for music streaming services. In addition, Tencent must annually report on these obligations to SAMR.