Times are changing and they’re changing fast. It feels like just last week that we were all driving around with large CD folders in our cars that our passengers flipped through while looking for something to listen to. Today, things are quite different. We now mostly have music libraries on our phones that we listen to by making use of some sort of music streaming app or service.
As far as streaming services go, Spotify is probably the most well known as it has 345m total users around the world. That’s amazing, right? Not if you consider that despite having so many users the company still lost around $700m last year. Enter the unsung hero of music streaming: Tencent Music Entertainment (TME).
Today, there are around 658m people in China making use of music streaming platforms, of which 622m are making use of one of Tencent Music’s apps (QQ Music, KuGou, and Kuwo). That’s not only 95% of the Chinese market, but also more than the number of users on Spotify and Apple Music combined. Moreover, neither Spotify nor Apply Music stand a chance to compete with Tencent Music in their home market.
Esta historia es de la edición 9 July 2021 de Finweek English.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición 9 July 2021 de Finweek English.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
THE HEALTH OF SA'S MEDICAL SCHEMES
As the Covid-19 pandemic abates, finweek takes a look at the financial performance of some of the largest players.
The effect of Gilbertson's departure
With Ntsimbintle Holdings now the major shareholder of Jupiter Mines, it could change SA’s manganese industry.
Making money from music
Why investors are increasingly drawn to the music industry.
Conviction is key
Sandy Rheeder plays a critical role in Mukuru’s mission to open up financial services to the emerging consumer market in Africa through tailor-made technology solutions and platforms.
The post-pandemic toolkit
How CFOs can use technology to support growth.
Big city living exodus
Mini cities like Waterfall City and Steyn City are redefining city-style apartment living.
Big compact, big value
Handsome, with a hefty level of standard specification, the roomy Haval Jolion compact crossover is a great value proposition.
On barriers to entry
There are various ways in which a company or sector can achieve competitive dominance. They usually make for good investments.
Fear and greed in one index
To buck the trend, when markets are hot or cold, is a tough thing to do. However, it can deliver solid returns.
Africa's largest data centre facility coming soon
Vantage Data Centers plans to invest over R15bn for its first African data centre facility in Attacq’s Waterfall City.
