NBA partners with Tencent Music Entertainment to generate audio content
The National Basketball Association (NBA) has entered the ever-growing audio content market with a new content arrangement. This new partnership has been developed by Tencent Music Entertainment, a Chinese company that provides music streaming services. This is an exciting new collaboration as Tencent’s QQ music portal will host a series of official NBA podcasts.
Not only will we be able to listen to NBA legends, but amateur podcasters will also be able to compete in a podcast creation competition. NBA fans will be able to join up for a special membership through these podcasts, which will give them the opportunity to win great tickets as well as other rewards that we have yet to see. These new podcasts will appeal to a broader audience than simply podcasters. Musicians are also welcome to participate, and they will be able to work with the NBA and TME to promote league events.
QQ Music is a freemium music streaming service that is a joint venture between TME and the audio streaming titan Spotify. Together with Tencent, the Chinese technology powerhouse, this Swedish corporation owns a share in TME. Along with KuGou and Kuwo, QQ is one of the most popular streaming apps in China.
The NBA’s lucrative sponsorship operation will still continue with this new deal. According to research released in June by IEG, the league and its 30 teams made $1.46 billion in sponsorship revenue during the 2020/21 season, which set a new record. This is an excellent increase of 6% over the previous season. This isn’t all they discovered; they also saw that league-level agreements were the primary source of income growth, with the NBA signing 13 new contracts. IEG also stated that sponsorship spends at the league level has climbed by almost 50% since the 2017/18 season.