Instrumental's deal with Tencent includes an equity stake in the British company, but equally importantly gives it a foothold in China - one of the world's fastest-growing music markets - through an alliance with Tencent Music Entertainment Group .
Instrumental's platform is used by all of the world's major record labels as well as Live Nation Entertainment. "Like us, Tencent have identified the power and potential of data science in the discovery and development of high potential new artists," Mr Withey said. Spotify said last year that lower-cost or free distribution had spurred the independent ranks of music artists online globally to more than three million, with over 40,000 tracks uploaded daily.
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