For its American label RCA Records, Sony Music Entertainment has established a new Greater China business to explore prospects in streaming, non-fungible tokens (NFTs), and the metaverse.
“RCA Records Greater China”
According to the corporation, the new label, named “RCA Records Greater China,” would make important recruits in artist management and Web 3.0.
Warner Music announced a music-themed digital realm in the Sandbox metaverse in January, and Sony Music is following suit.
Jackson Wang, a Hong Kong rapper and member of the K-pop group GOT7, and A-Lin, a Taiwanese pop artist, have both signed with RCA Records.
In the past year, competing K-pop labels HYBE, SM, JYP, and Cube Entertainment have all announced metaverse-related initiatives.
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Will improve the ability to produce music
RCA Records Greater China will “improve its ability to produce high-quality, diverse music and merchandise that will help artists stand out and succeed in the attention economy.”
According to a press release, the label will have a core staff centered in Shanghai and will develop domestic A&R and local-language musicians in the region with its own roster of signees.
It will be “the first of a succession of labels we plan to develop in the region,” according to Andrew Chan, CEO of Sony Music Greater China.
“With China dominating the Asian market in recorded music income growth of over 30% in 2021, there is plenty of potential for artists and music companies to expand,” he added.
RCA Records Greater China will invest in musicians who wish to boost their prospects in the digital and Web3 domains, notably “streaming, gaming, Virtual Reality, Augmented Reality, NFTs, and the Metaverse,” according to a press statement.
Records by RCA Greater China released Jackson Wang’s single “Jackson Wang” earlier this year and will assist in the distribution of the rest of his Chinese-language album.
Wang has his own label, Team Wang Records, and has also worked with 88rising and Warner Records to release and distribute music.
He is a part of the Chinese hip-hop group PANTHEPACK, alongside Karencici, J.Sheon, and ICE, in addition to GOT7.
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Source: https://www.thecoinrepublic.com/2022/05/22/sony-musics-new-greater-china-business-streaming-nfts-and-the-metaverse/