Tencent Music Entertainment (TME) and SM Entertainment established a Beijing-based joint venture named STE. The partnership aims to discover local Chinese talent and manage existing Chinese-speaking artists.
STE will oversee the full development cycle for new idol groups. The venture targets a debut for its first group within two to three years.
The firm will manage local activities for artists including NCT Dream’s Renjun and WayV’s Yangyang and Xiaojun. This agreement follows a memorandum of understanding signed in May to deepen the strategic relationship.