Tencent Music Entertainment Group on Monday announced its 2021 Q2 financial report, showing net profits attributable to equity holders of the company reaching 1.12 billion yuan ($173 million), a decrease of 12% year-on-year.
China's antitrust regulator is set to order the music streaming arm of Tencent Holdings Ltd. to relinquish its exclusive music rights, Reuters reported on Monday, citing people with knowledge of the matter.
ByteDance has recently raised the priority level for its music products to P1, on par with its games and education services.
Chinese streaming giant Tencent Music Entertainment (TME) confirmed on Tuesday that it is facing heightened scrutiny from antitrust regulators after reporting better-than-expected first quarter financial results the previous day.
Tencent Music Entertainment, China’s dominant online music platform, said on Monday it has signed a deal with Warner Music Group (WMG) to launch a new joint venture record label.
Following rumors of a shutdown in November, Alibaba-backed Xiami Music (虾米音乐) released a statement on Jan. 5 announcing plans to close in February due to a business reshuffling.
On Nov.29, a post on Sina Weibo, Chinese largest microblogging platform, claimed that Alibaba’s music streaming platform Xiami Music（虾米音乐) is going to close down permanently in January 2021.
Here we’ve picked out the 7 best music apps for both Android and iPhone smartphone users in the West and China.
Chinese video game and entertainment company NetEase beat analyst expectations for its first quarter revenues as the company increased its online games revenue with new game launches and further monetized its music streaming app.
Late last year Chinese tech behemoth ByteDance released a beta version of its upcoming music app, Resso, with the goal of tapping the music streaming market in India and Indonesia.