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Sony Music’s RCA Records Web3 venture breaks into Greater China

forkast.news 20 May 2022 04:35, UTC
Reading time: ~2 m

Sony Music Entertainment has set up a new Greater China venture for its American label RCA Records to explore opportunities in streaming, non-fungible tokens (NFTs) and the metaverse.

Fast facts

  • The new label, dubbed “RCA Records Greater China,” will make key hires in artist management and Web 3.0, the company said on Friday.
  • Sony Music’s move comes as labels actively tap into the NFT and metaverse trends, with Warner Music announcing a music-themed digital world in the Sandbox metaverse in January.
  • RCA Records has signed Jackson Wang, a Hong Kong rapper and a member of K-pop group GOT7, and A-Lin, a pop star from Taiwan.
  • The Korean entertainment industry has also been an active player in metaverse developments, with rival K-pop labels HYBE, SM, JYP and Cube Entertainment announcing related ventures over the past year.

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