tencent parent company

In its last set of financial results, Tencent Music revealed that it had 644 million mobile monthly active users of its online music services, including 39.9 million who were paying. That represents the scale of its business in its homeland, China, but now its parent company Tencent Holdings is planning some music-streaming expansion in another part of the world: Africa.

Tencent-owned service Joox is already available in South Africa, but now the company is planning to roll it out to other key music markets in Africa. “There are a lot of local labels and artists that are big in Africa, but the whole digitalisation journey is not even there,” Tencent’s Poshu Yeung told Bloomberg, before suggesting that expanding in Africa at this stage is more appealing than scrapping for market share in more mature (in a streaming sense) regions. “Rather than go fighting for the pie, it’s better to build a pie.” According to the interview, Nigeria may be one of the first ports of call for Joox as it expands.

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