Universal Music Limited, a world-leading music company, announced an agreement on Saturday with Guangzhou Impact Audio-Video Co Ltd, to distribute classical music discs in the Chinese mainland.
The Guangzhou firm will be authorized to distribute discs of Decca and Philips, two world-famous classical music brands of Universal, says Jason Zhu, managing director of the company, China Daily reported Monday.
For the first phase of the co-operation, the Guangzhou Impact Audio-Video Co Ltd will invest about 10 million yuan (US$1.2 million) to introduce the music of renowned Norwegian duo, Secret Garden, to Chinese fans, said Zhu.
"Chinese classical music fans have had to listen to pirated discs of Secret Garden for years and now we expect to introduce true music for them," said Zhu.
The company, founded in 1993 in the southern city of Guangzhou, has established a sales network in 31 provinces, municipalities and autonomous regions in the mainland so far.
Universal leads the music industry in global sales with an estimated worldwide market share in 2003 of 23.6 per cent, according to Tik Hung, managing director of Universal Music Limited (China and Hong Kong).
In February this year, Universal signed an agreement with Shanghai Media Group to establish a pop music and entertainment company
(China Daily September 28, 2004)
