The digital collection platform owned by Tencent Music Entertainment Group (TME), the leading online music and audio entertainment platform in China, is currently in a state of near shutdown after it stopped sales after June 30. In this regard, TME said on September 19 that the digital collection plate is still in the evaluation and planning stage, and subsequent moves will be unveiled in the future.
On TME’s QQ Music, many users who have bought digital collections have left messages asking the platform for a refund, which is what Huanhe, another digital collection platform owned by Tencent, did before. Huanhe began removing users on August 16. A chat group with more than 300 consumers was established on QQ to air their grievances. TME said that user complaints will be dealt with properly.
TME launched the digital collection platform last August only to see its services shuttered a year later. A number of users on QQ Music ridiculed that they can not find the entrance to the digital collection platform.
In fact, many of TME’s digital collections have been slow sellers since June. Like Huanhe, the platform has several restrictions on transfers. Huanhe does not support any transfer of digital collections, while TME users can only initiate transfers to other users after owning any digital collection for 365 days.
Backed by TME, an online music platform rich in social, entertainment and music resources, the digital collection platform has its own identity. Since its launch, TME has worked with Tengger, Anson Hu, Law Tai-yau and other singers to create a number of digital collections.
TME’s digital collection has its own unique collection value. Take the digital collection named “Time Voice” of Law Tai-yau as an example. The digital vinyl record has tags with Law’s handwritten signature. Different vinyl record machines also have three versions of Law’s personal greeting message engraved upon them.
But TME’s digital collection platform is much smaller than Huanhe. According to China.org.cn, 24 collections have been released on the platform since January 9 this year. According to the sale price and circulation, its sales volume in April was about 3.583 million yuan ($511,368) and that in May was about 2.226,700 million yuan.
“Music has not been a mainstream representation in the digital collection market,” said one industry analyst. Zhang Yi, senior analyst at iiMedia, added, “Like Huanhe, TME’s digital collection platform also faces policy risks.”