Tencent Music’s Q2 financial results show 47.1m paying music users

Tencent publish their Q2 financial results, showing very impressive subscriber, revenue and profit growth in 2020. Tencent Music Entertainment’s Q2 financial highlights are as follows: Online music paying users grew 51.9% year-over-year to 47.1 million,…

Universal sign deals with Chinese companies Tencent and NetEase

Universal sign two deals with major companies Tencent and NetEase, showing a positive move towards fairness for streaming in China. Universal have signed deals with two Chinese companies, massive in the online streaming market. Chinese…

Tencent Music Entertainment launches livestreamed concerts, over 100m viewers already

China’s huge entertainment brand is counteracting the lack of concerts in a post-COVID 2020 with massively popular online concerts. Tencent Music Entertainment (TME) is the music branch of China’s huge tech conglomerate China. With live…

Tencent’s Incentive Project pays out over $84m to indie artists

Tencent Music Entertainment has announced it has paid out 590 million yuan (over $84 million) to indie artists in their┬áTencent Musician Program. Tencent Musician is the online service that promotes emerging independent artists on TME…

Music subscriber market share from Q1 2020 shows Spotify on top, followed by Apple Music and Amazon Music

The latest data from MIDiA shows which music streaming services hold what percentage of users and the growth of music streaming in 2020. Streaming as a whole has grown in 2020 with 400 million subscribers,…

NetEase have made a large investment in an AI music composer

NetEase, a notable rival to Chinese tech company Tencent, have just made a $1.68 million investment in a new music AI company. NetEase are a China-based company who are most notable for running NetEase Cloud…

How much of the music industry does Tencent really own?

Beyond their own huge music services Tencent has huge stakes in Universal, Warner, Spotify and others. Tencent is a huge Chinese company and with their music sector, Tencent Music Entertainment (TME), they are making its…

Tencent confirm $100 million stake in Warner Music Group

The Chinese conglomerate has confirmed a considerable stake in WMG following the launch of their IPO earlier this month. Chinese music giant Tencent Music Entertainment have spread their fingers into yet another pot of the…

Tencent have gained 50% more paying users in the last year with 657m total users

Tencent’s latest report shows paying users are growing steadily converting more of their almost 700 million users than last year to pay for music. Chinese music streaming company Tencent Music are behind some of China’s…

Netease Cloud Music just licensed over 1 million Warner tracks for nearly 1 billion users

The huge Chinese music streaming platform has just gained the rights to a huge catalogue of music from Warner Chappell. NetEase Cloud Music is a giant in the music streaming landscape. With over 800 million…