The copyright of Jay Chou in 2019 belongs to Tencent Music Group.

On May 16, 2017, Tencent Music Entertainment Group announced that it had signed a strategic cooperation agreement with Universal Music Group for digital copyright distribution in mainland China. This means that Tencent already has the exclusive copyright of Universal Music, Sony Music, and Warner Music, the world's three major record companies.

However, the price behind this is not low. According to reports, in the battle between Tencent Music and its friends for global copyright, the exclusive agency fee increased with the competition, eventually rising from US$30 million to US$350 million plus US$100 million in equity. According to Tencent Music's second quarter financial report, Tencent Music's revenue cost in the second quarter of 2019 was 3.96 billion yuan, a year-on-year increase of 46.1% from 2.71 billion yuan in the same period last year. Its revenue cost in the first quarter of 2019 was 3.7 billion yuan, a year-on-year increase of 52.2% compared with 2.43 billion yuan in the same period last year.

Tencent Music signed an exclusive domestic copyright agreement, which is inconsistent with international practice. Other platforms must obtain copyright sublicensing from Tencent Music. In fact, Jay Chou can bring 15% of active users to a music platform. This means that no matter how high the price is, as long as Tencent Music is willing to sublicense, other platforms may have to shell out cash.

Record labels including Universal Music Group, Sony Music Entertainment and Warner Music Group have reportedly sold exclusive rights to most of their music to Tencent Music. After acquiring the copyright, Tencent Music resells the content copyright to smaller competitors, which is unfair. In fact, it is the users who lose in the end.