Last year we reported on the enormous claimed audience for a Backstreet Boys concert that was livestreamed on WeChat: 44.2 million viewers.
Tencent and ByteDance top latest global app revenue rankings
Sensor Tower analyses data from Apple and Google’s app stores to understand which apps, games and companies are the most successful.
Tencent Music financials reveal it now has 82.7m paying users
There is some good news and some not-so-good news in the latest financial results of Chinese streaming giant Tencent Music.
How many users do Spotify, Apple Music and other streaming services have?
Sometimes the statistics around how many people are streaming music – and how many are paying for it – can lead to confusion and misinterpretation.
Recently, for example, we’ve seen one story suggesting that Amazon was “on course to overtake Apple Music” based on comparing an Amazon figure from January 2020 with one from Apple that hadn’t been updated since June 2019.
Another story claimed that “Pandora has overtaken Apple for second spot” in subscriber rankings, which mistakenly compared the former’s number of active listeners (most of whom don’t pay) to the latter’s paid subscriber count.
So, we’re trying something that will hopefully be useful: a post that we’ll update whenever a major streaming service updates its public numbers.
Rumours swirl about a crackdown on Chinese investments
Imagine if Tencent and ByteDance get the Chinese government’s approval for any investments in other companies? It would be a big deal.
Music industry seeks more subscription growth in China
Music Ally has been talking to our sources in China to get a sense of the market’s development last year, for our latest country profile.
Reports claim Joox is shutting down in South Africa
Tencent-owned music streaming service Joox appears to be shutting down in South Africa, although not quite yet. “As of 31 March 2022, the JOOX Music service will come to an end in South Africa,”
Tencent Music reveals 30% growth in music subscriptions
2021 has been a bumpy year for Tencent Music Entertainment (TME), with the Chinese government cracking down on exclusive licensing deals with labels, and a wider climate in China of sterner regulation of big technology companies and their subsidiaries.
That’s a key reason why Tencent Music’s market cap (value) has plunged from its peak of $53.8bn in March to $13.5bn at the time of writing, although investors are also paying close attention to the company’s business performance. Talking of which, its Q3 financial results came out this morning.
Last quarter, Tencent Music generated RMB 7.81bn ($1.21bn) of revenues, up 3% year-on-year. Within that, its ‘online music services’ revenues grew by 24.3% to RMB 2.89bn ($448m), including a 30.2% growth in music subscriptions revenue to RMB 1.9bn ($295m).
China cracks down on idol worship and children’s gaming
It will soon be quicker to report on which aspects of the technology industry the Chinese authorities are NOT cracking down on…
Tencent Music regulatory crackdown milder than feared
Well, we say ‘milder’: China’s biggest music streaming company isn’t completely out of the woods in the Chinese government’s regulatory crackdown on various technology firms.
After the latest announcement of fines for companies including TME’s parent company Tencent, Alibaba and Didi, Billboard noted that the government is not (“for now”) making any noises about forcing TME to sell any of its three music streaming services: QQ Music, KuGou or Kuwo.
Instead, Reuters suggested that China’s antitrust regulator will fine the company 500k yuan (around $77.2k) over reporting failures in its acquisitions of the latter two services, and that it will order the company to “give up exclusive rights to music labels which it has used to compete with smaller rivals”.
Indian streaming service Gaana raises $40m from Tencent
Gaana, one of India’s biggest music streaming services, is turning to existing investor Tencent for a new round of debt funding. According to news site Entrackr, the amount is $40m from Tencent’s European subsidiary Tencent Cloud Europe.
This comes nearly 10 months after Gaana’s last round of debt funding: just over $50m from investors including Tencent Cloud Europe. Tencent, meanwhile, led a $115m funding round in Gaana in February 2018. Entrackr estimated that the latest round values Gaana at $570m-$580m, up from $530m last September, when the company also said that it had 185 million monthly active users.
This week’s news is a reminder of the fact that India is one of the few countries (see also: South Africa and various countries in south east Asia) where Tencent has an ownership or investment interest in rival streaming services to Spotify, with which it swapped shares in late 2017.
China latest: Sony Music deals and Tencent Music financials
Dealmaking in China’s digital music ecosystem is changing fast, moving on from the time when big labels would license their catalogues exclusively to one streaming company, which would in turn […]