02 – 10 – 2020
A British-based music scouting platform which uses artificial intelligence to assess artists' commercial potential has struck a landmark deal that will see one of China's biggest technology companies take a stake in it.
Sky News has learnt that Tencent Holdings is acquiring a minority stake in Instrumental, which was founded in 2016 by Conrad Withey and Abi Hanna, as part of a strategic partnership.
The deal will be announced on Wednesday, according to insiders.
It will deliver a major boost to Instrumental, which utilises advanced data science to discover musicians who are not distributing their work through traditional labels.