Tencent Music has published a report from its internal research institute exploring how China’s music-streaming economy grew in 2021. The report is a Chinese-language publication, but TME’s announcement of it breaks down some of the key figures in English.
Among the stats: a sharp increase in the number of new songs released in China: up 53.1% to more than 1.14m last year. Meanwhile, the number of new musicians grew by 41.2%.
This may spark some concerns of a music overload, as has also been talked about in the west, especially as TME’s research suggests that actual listening grew by 9.3%. That’s encouraging growth, but it’s still being outpaced by the increase in tracks and artists.
That said, the report offers stats both for the top tier of artists and emerging musicians. On the former, more than 100 artists broke the 500m annual streams bar in 2021.
And on the latter, the number of artists averaging monthly earnings of RMB 10k (around $1.5k) in July 2021 from TME’s indie-focused Tencent Musician arm had grown eightfold year-on-year.
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