Tencent Music
{{short description|Chinese music distribution company}}
{{Infobox company
| name = Tencent Music Entertainment Group
| logo = Tencent Music.svg
| logo_size =
| predecessor = China Music Corporation
Tencent's QQ Music division
| type = Public
| former_name = China Music Corporation
| traded_as = {{NYSE|TME}} (ADS)
{{SEHK|1698}}
| founded = {{start date and age|2016|07}}
| products = QQ Music, Kugou, Kuwo, WeSing, Ultimate Music
| owners = {{Unbulleted list|Tencent (57% with 61.6% Shareholders Voting Right)
Pacific Alliance Group (9.1% with 11% Shareholders Voting Right)
Spotify (16.47%)
CICFH entities (6.1% and 7.4% Shareholders Voting Right)
Zhenyu Xie (4% and 4.9% Shareholders Voting Right)
Dhanin Chearavanont (4% and 4.7% Shareholders Voting Right)|}}
| location = Shenzhen, Guangdong, China
| num_employees = 5,966{{Cite web |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/0001744676/000119312522120210/d242038d20f.htm |title=Tencent Music 2021 Annual Report (Form 20-F) |date=26 April 2022 |work=U.S. Securities and Exchange Commission |page=151}}
| num_employees_year = December 2021
| parent = Tencent Interactive Entertainment Group
| revenue = {{nowrap|{{increase}} {{CNY|31.24 billion|link=yes}} (2021)}}
| website = {{URL|https://www.tencentmusic.com/}}
}}
Tencent Music Entertainment Group (TME; {{zh|s=腾讯音乐娱乐集团}}) is a company that develops music streaming services for the Chinese market. Tencent Music's apps include QQ Music, KuGou, Kuwo, and WeSing; which have more than 800 million active users and 120 million paying subscribers.{{cite news |title=Tencent Music drowns out Spotify and Apple |url=https://www.bloomberg.com/news/articles/2017-12-13/tencent-fends-off-spotify-apple-in-china-s-battle-for-the-bands |work=Bloomberg News |access-date=2018-08-07 |archive-url=https://web.archive.org/web/20180808085857/https://www.bloomberg.com/news/articles/2017-12-13/tencent-fends-off-spotify-apple-in-china-s-battle-for-the-bands |archive-date=2018-08-08 |url-status=live }}{{cite magazine |title=Revealed: Billboard's 2017 Digital Power Players, Guiding the Future in Music and Tech |url=http://www.billboard.com/articles/business/7942213/digital-executives-power-list-2017-music-industry |magazine=Billboard |access-date=2018-08-07 |archive-url=https://web.archive.org/web/20180614132012/https://www.billboard.com/articles/business/7942213/digital-executives-power-list-2017-music-industry |archive-date=2018-06-14 |url-status=live }}{{cite news|title=Why China's music streaming is leading the world|url=https://www.techinasia.com/china-korea-digital-media|work=Tech in Asia|date=27 June 2017|first=Pearl|last=Lee|access-date=7 August 2018|archive-url=https://web.archive.org/web/20180613184350/https://www.techinasia.com/china-korea-digital-media|archive-date=13 June 2018|url-status=live}} As of July 2016, Tencent Music's three services held an estimated 56% market share of music streaming services in China.{{Cite news|url=https://www.scmp.com/business/companies/article/1990254/tencent-merge-qq-music-service-china-music-corp-create-streaming|title=Tencent to merge QQ Music service with China Music Corp to create streaming giant|last=Soo|first=Zen|date=15 July 2016|work=South China Morning Post|access-date=8 August 2018|archive-url=https://web.archive.org/web/20180808011359/https://www.scmp.com/business/companies/article/1990254/tencent-merge-qq-music-service-china-music-corp-create-streaming|archive-date=8 August 2018|url-status=live}}
In the first quarter of 2021, Tencent Music announced it had 60.9 million paying users, up 42.6% compared to the 42.7 million paying users in the first quarter of 2020. In addition, the total number of music streaming users was announced to be 615 million, a drop of 6.4% compared to the first quarter of 2020 (657 million).{{Cite web|url=https://ir.tencentmusic.com/2021-05-17-Tencent-Music-Entertainment-Group-Announces-First-Quarter-2021-Unaudited-Financial-Results|title=Tencent Music Entertainment Group Announces First Quarter 2021 Unaudited Financial Results|website=Tencent Music - Press Releases|language=en|access-date=2021-06-14}}
History
Tencent Music was established in July 2016 with Tencent's purchase of China Music Corporation to strengthen its music offerings.{{cite news|title=Tencent spikes on music arm move|url=http://www.thestandard.com.hk/section-news.php?id=189155&sid=2|work=The Standard|access-date=2018-08-07|archive-url=https://web.archive.org/web/20171102015631/http://www.thestandard.com.hk/section-news.php?id=189155|archive-date=2017-11-02|url-status=live}} On July 4, 2018, Sony/ATV Music Publishing acquired an equity stake in Tencent Music.[https://oneedm.com/edm-business/sony-atv-tencent-profits-songwriters/ Sony/ATV Share Tencent IPO Profits with Songwriters] {{Webarchive|url=https://web.archive.org/web/20180812022450/https://oneedm.com/edm-business/sony-atv-tencent-profits-songwriters/ |date=2018-08-12 }} oneedm.com, Retrieved on 11 August 2018[https://www.musicbusinessworldwide.com/sony-atv-owns-a-stake-in-tencent-music-entertainment/ Sony/ATV owns a stake in Tencent Music Entertainment] {{Webarchive|url=https://web.archive.org/web/20180812021721/https://www.musicbusinessworldwide.com/sony-atv-owns-a-stake-in-tencent-music-entertainment/ |date=2018-08-12 }} musicbusinessworldwide.com, Retrieved on 11 August 2018 In October 2018, the firm filed for IPOs of around $2 billion{{Cite news|url=https://www.reuters.com/article/us-tencentmusic-ipo/crunch-time-for-tencent-musics-2018-2-billion-ipo-hopes-idUSKCN1NQ07M|title=Crunch time for Tencent Music's 2018 $2 billion IPO hopes|last=Hughes|first=Jennifer|work=U.S.|access-date=2018-11-21|language=en-US|archive-url=https://web.archive.org/web/20181121061724/https://www.reuters.com/article/us-tencentmusic-ipo/crunch-time-for-tencent-musics-2018-2-billion-ipo-hopes-idUSKCN1NQ07M|archive-date=2018-11-21|url-status=live}} in the United States.{{Cite news|url=https://www.wsj.com/articles/tencent-music-files-for-u-s-ipo-1538496869|title=Tencent Music Files for U.S. IPO|last1=Farrell|first1=Maureen|date=2018-10-02|work=Wall Street Journal|access-date=2018-10-03|last2=Steele|first2=Anne|language=en-US|issn=0099-9660|archive-url=https://web.archive.org/web/20181003030810/https://www.wsj.com/articles/tencent-music-files-for-u-s-ipo-1538496869|archive-date=2018-10-03|url-status=live}}
In December 2018, the company announced an IPO with the total value of shares around $1.23 billion, which includes 82 million ADS and 164 million regular shares priced around $13 - $15.{{Cite news|url=https://techcrunch.com/2018/12/03/tencent-music-moving-ahead-with-its-1-2b-u-s-stock-market-debut/|title=Tencent Music moving ahead with its $1.2B U.S. stock market debut|work=TechCrunch|access-date=2018-12-04|language=en-US|archive-url=https://web.archive.org/web/20181204150314/https://techcrunch.com/2018/12/03/tencent-music-moving-ahead-with-its-1-2b-u-s-stock-market-debut/|archive-date=2018-12-04|url-status=live}}
On January 30, 2019, SM Entertainment, the largest entertainment agency of South Korea entered into strategic partnership agreement with China's Tencent Music that included music distribution and marketing in the Chinese market.{{Cite web|title=SM, 中 최대 엔터 텐센트 뮤직과 전략적 파트너십 체결 [공식]|url=https://entertain.naver.com/now/read?oid=117&aid=0003168765|access-date=2020-09-03|website=entertain.naver.com|language=ko}}
In June 2020, the Government of India banned QQ Music with 58 other Chinese origin apps citing data and privacy issues. The border tensions in 2020 between India and China might have also played a role in the ban.{{cite news |title=India bans 59 Chinese apps including TikTok, Helo, WeChat |url=https://economictimes.indiatimes.com/tech/software/india-bans-59-chinese-apps-including-tiktok-helo-wechat/articleshow/76694814.cms |publisher=The Economic Times |date=July 3, 2020 |access-date=July 20, 2020 |archive-url=https://web.archive.org/web/20200716172831/https://economictimes.indiatimes.com/tech/software/india-bans-59-chinese-apps-including-tiktok-helo-wechat/articleshow/76694814.cms |archive-date=July 16, 2020 |url-status=live }}{{cite news |title=Full list of 59 Chinese apps banned by Indian govt |url=https://theprint.in/india/full-list-of-59-chinese-apps-banned-by-indian-govt/451254/ |publisher=ThePrint |date=June 29, 2020 |access-date=July 20, 2020 |archive-url=https://web.archive.org/web/20200717044915/https://theprint.in/india/full-list-of-59-chinese-apps-banned-by-indian-govt/451254/ |archive-date=July 17, 2020 |url-status=live }}
As of 2023, 16.47% of Tencent Music class A ordinary shares are owned by Spotify.{{Cite web |title=Spotify Technology S.A. : Shareholders Board Members Managers and Company Profile {{!}} LU1778762911 {{!}} MarketScreener |url=https://www.marketscreener.com/quote/stock/SPOTIFY-TECHNOLOGY-S-A-42589613/company/ |access-date=2023-12-23 |website=www.marketscreener.com |language=en}}{{Cite web |title=Tencent Music Entertainment Group : Shareholders Board Members Managers and Company Profile {{!}} US88034P1093 {{!}} MarketScreener |url=https://www.marketscreener.com/quote/stock/TENCENT-MUSIC-ENTERTAINME-47515600/company/ |access-date=2023-12-23 |website=www.marketscreener.com |language=en}}
Charts
Tencent Music currently has three charts: The TME UNI Chart, launched in 2018; the TME Wave Chart, launched in 2020; and the TME Korean Chart, launched in 2024.{{cite news |title=腾讯音乐娱乐集团加持 由你音乐榜年度报告带你看懂数字音乐前景 |url=http://news.xhby.net/qyzx/202003/t20200330_6582046.shtml |website=Xinhua News Network |date=March 30, 2020 |trans-title=Launched by Tencent Music Entertainment Group, the UNI Music Chart Annual Report helps you understand the future of digital music |language=zh}}{{cite news |title=腾讯音乐娱乐集团推出浪潮联创音乐榜 |trans-title=Tencent Music Entertainment Group launches Wave Music Chart |url=http://www.xinhuanet.com/ent/2020-12/24/c_1126902181.htm |work=Xinhuanet |date=December 24, 2020 |archive-date=August 19, 2022 |archive-url=https://web.archive.org/web/20220819160537/http://www.xinhuanet.com/ent/2020-12/24/c_1126902181.htm |url-status=dead |language=zh}}{{Cite web |title=腾讯音乐榜 |trans-title=Tencent Music Chart |url=https://weibo.com/6573096128/O6CBg53C9 |date=March 25, 2024 |access-date=March 25, 2024 |website=Weibo |language=zh}}
Tencent Music began releasing the first "Chinese Digital Music Annual Report" in 2019 and continues to do so every year.{{cite news |title=由你音乐榜2020年度盘点上线: 用数据为华语乐坛测温 |url=http://ent.qianlong.com/2021/0119/5298855.shtml |website=Qianlong |date=January 19, 2021 |archive-date=August 3, 2021 |archive-url=https://web.archive.org/web/20210803203013/http://ent.qianlong.com/2021/0119/5298855.shtml |url-status=dead}} The annual report includes rankings of top songs, albums, and artists from all three charts and an overall Chinese Digital Music ranking based on the comprehensive results from TME UNI Chart and TME Wave Chart.
=TME UNI Chart=
The name, UNI, is a homophone for "up to you" (由你) in Chinese as this chart is determined by the listeners. The TME UNI Chart contains two lists: Real-time List and Past List. Real-time List shows the top 200 songs and updates every ten minutes. Past List shows the top 100 songs from each charting week, which runs from Monday to Sunday.{{cite web |url=https://www.tencentmusic.com/en-us/uni-chart.html |title=TME Uni Chart |access-date=January 7, 2025 |website=Tencent Music}} In 2023, Tencent Music Entertainment Group announced a partnership with Billboard to integrate the TME UNI Chart into Billboard{{'}}s official Hits of the World collection of global record charts.{{Cite web |publisher=Tencent Music Entertainment Group |title=Tencent Music Entertainment Group Introduces TME UNI Chart on Billboard to Promote Chinese Music in Global Markets |url=https://www.prnewswire.com/news-releases/tencent-music-entertainment-group-introduces-tme-uni-chart-on-billboard-to-promote-chinese-music-in-global-markets-301740536.html |date=February 8, 2023 |access-date=September 21, 2023 |website=PR News Wire |language=en}}{{cite news |title=腾讯音乐由你榜登陆Billboard公告牌, 更多华语音乐将被世界听见 |trans-title=Tencent Music’s UNI Chart is launched on Billboard, more Chinese music will be heard around the world |url=https://ie.bjd.com.cn/5b165687a010550e5ddc0e6a/contentShare/5b21d73be4b02439500383f1/AP63e367dfe4b0ed71f928a1db.html |website=Beijing Daily |date=February 8, 2022 |archive-url=https://web.archive.org/web/20240420180337/https://ie.bjd.com.cn/5b165687a010550e5ddc0e6a/contentShare/5b21d73be4b02439500383f1/AP63e367dfe4b0ed71f928a1db.html |archive-date=April 20, 2024 |url-status=dead}}
Eligible songs must be new songs within six weeks of their initial release on Tencent Music's platform and are not part of the following song types:
- Songs without clear ownership and/or credit to the songwriters
- Cover songs without any adaptations
- User-generated, demo, trial, and/or incomplete version of songs
- Live versions of songs performed during commercial performances, concerts, or television programs
- Instrumental and/or background music
- Songs with vulgar lyrics and/or content that do not comply with relevant national regulations
- Songs released more than three months ago that are later added to Tencent Music's platform
Songs are ranked based on streaming, social, and sales activity from registered accounts on QQ Music, KuGou Music, KuWo Music, WeSing, Joox, Weibo Music, and Weixin Video Account.
=TME Wave Chart=
{{Main|TME Wave Chart}}
The TME Wave Chart is a monthly ranking of the top songs in China compiled based on scores and recommendations from more than 250 music industry professionals.{{Cite web |last=Liu |first=Hsiuwen |title=Tencent Music Responds to China Streaming Manipulation Concerns With New Year-End Chart |url=https://www.billboard.com/pro/tencent-new-year-end-chart-china/ |date=February 21, 2023 |access-date=February 21, 2023 |website=Billboard |language=en}}
=TME Korean Chart=
The TME Korean Chart ranks the top Korean songs within China based on streaming and sales activity from the platforms QQ Music, KuGou Music, KuWo Music, Polka Dot, and Joox as well as data from Circle Chart and Hanteo Chart.
The TME Korean Chart contains two lists: Real-time List and Past List. Real-time List shows the top 200 songs and updates every ten minutes. Past List shows the top 100 songs from each charting week, which runs from Monday to Sunday. Songs are ranked based on streaming (50%), sales (30%), and social activities (20%). {{cite web |url=https://yobang.tencentmusic.com/chart/korean-chart/rule/ |website=Tencent Music |access-date=January 7, 2025 |title=Tencent Korean Chart Rules |language=zh}}
This chart follows a set of rules based on length of time since a song's release on Tencent Music platform:
- Weeks 1-12: Songs are eligible to chart
- Weeks 13-26: Songs that fall outside the Top 100 are removed from and cannot reenter the chart
- Weeks 27-52: Songs that fall outside the Top 50 are removed from and cannot reenter the chart
- Weeks 52 and beyond: Songs that fall outside the Top 25 are removed from and cannot reenter the chart
References
{{reflist}}
External links
- {{Official website|https://www.tencentmusic.com/en-us/}} {{in lang|en}}
{{Tencent}}
{{Authority control}}
Category:Tencent divisions and subsidiaries
Category:Chinese companies established in 2016
Category:2018 initial public offerings
Category:Companies listed on the New York Stock Exchange
Category:Internet censorship in India
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{{China-music-stub}}