What happened Shares of youth-oriented video-sharing specialist Bilibili (NASDAQ: BILI) rose as much as 17.6% in Thursday morning's trading, lifted by a new partnership with Tencent Music Entertainment's (NYSE: TME) QQ Music service. Tencent Music's stock also surged as much as 7.2% higher on the news. By noon EST, Bilibili's shares had settled down to a gain of 13.4%, while Tencent Music retreated to a 5.9% increase. So what Under the new partnership, Bilibili and QQ Music will cross-promote musicians and music content. The two companies will also work together to create new music content such as live online events, remixes of popular songs, and co-production of new albums. "Bilibili is home to a large number of talented music creators and enthusiasts who are keen on secondary creation," Bilibili COO Li Ni said in a prepared statement. "As a leading domestic digital music platform, QQ Music has accumulated abundant experience in music copyright management, record distribution, as well as the support and promotion of musicians." Image source: Getty Images. Now what This agreement involves two of the most popular online media services in China. Tencent Music boasts 661 million monthly active users across its three music services, while Bilibili sports 128 million active accounts. It makes sense to see Bilibili rising higher than Tencent Music on this particular agreement, since Bilibili is the smaller partner that arguably has more to win from tapping into QQ Music's massive user base. 10 stocks we like better than BilibiliWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Bilibili wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of December 1, 2019 Anders Bylund has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Bilibili. The Motley Fool has a disclosure policy.Source