Tencent Music Entertainment Group Announced Performance Report for Its Overseas Service by Tencent Musician Platform

Rhea-AI Summary

Tencent Music Entertainment Group (TME) has reported significant growth in its overseas promotion and distribution services through the Tencent Musician Platform. As of October 2022, nearly 40% of new releases were distributed globally, totaling around 185,000 works. Notably, a single song's streaming increased by 4,800%, and TME musicians experienced income growth as high as 835%. TME's 'One-Click For All' service facilitates distribution across over 150 platforms worldwide, enhancing exposure for Chinese musicians and accumulating over 500 million streams on YouTube.

Positive

• 40% of new releases distributed globally, totaling 185,000 works.
• Single song's streaming increased by 4,800%.
• Highest income growth for a musician reached 835%.
• One-Click For All service allows distribution to over 150 platforms.
• Musicians' works achieved over 500 million streams on YouTube.

Negative

• None.

SHENZHEN, China, Nov. 22, 2022 /PRNewswire/ -- Tencent Music Entertainment Group ("TME", or the "Company") (NYSE: TME and HKEX: 1698), the leading online music and audio entertainment platform in China, reported the performance for its overseas promotion and distribution service by Tencent Musician Platform. The report demonstrates TME's steadfast efforts in empowering Chinese musicians and their high-quality music, and helping China's music culture extend its reach.

Currently, more Chinese musicians tend to connect with global music fans by distributing their works in overseas markets. The report shows that as of October 2022, nearly 40% of the new releases by Tencent Musicians were proactively distributed across the globe, making the total works of overseas distribution around 185,000. In the first half of 2022, the streams of one single song were up 4,800%, and the highest income increase of Tencent Musician reached 835% from its launch.

Tencent Musician Platform fully supports China's musicians and continues to promote the international impact of the country's original music. It has helped numerous Chinese musicians start achieving their musical dream and make progress in their careers.

Massive resources empower musicians and original music

Thanks to the progress of the platform, songs from Tencent Musician Akini Jing's album "Endless Farewell" were recommended by the global popular music platform, and it was also chosen as the monthly pick by Pitchfork, a worldwide authority in music reviews, as the report noted. Works from musicians including Liu Shuang and Georgina Qian were listed in Spatial Audio on Apple Music. "Mosaïque", a collaborative cross-border album launched by TME and the Embassy of France in China, was produced by 21 emerging artists from China and France. It was broadly praised upon release as both the album and the single "Attends encore un peu" were promoted by the global well-known music platform.

TME's proprietary service easily connects China's music to global fans

In April 2022, TME further ramped up its overseas promotions and distribution capabilities by introducing a new service, "One-Click For All", on its Tencent Musician Platform. The new service enables musicians to easily distribute musical works to over 150 popular platforms that cover audiences in more than 200 countries and regions. TME has also provided musicians with International Standard Recording Code (ISRC) for free to improve catalog management and copyright protection and has brought musicians with income equal to up to 70% of that generated from overseas markets.

The service provides more opportunities for musicians to communicate with global fans. It also advances China's creation of original music and promotes cultural exchange. The report indicates that the music works distributed by TME have achieved over 500 million streams on YouTube and more than 1 million streams on Facebook, Spotify, and UMA. Musicians' works were favored by global fans and at the same time, they received attention and increased their popularity across the globe.

Since its establishment, Tencent Musician Platform has continued to serve passionate musicians and help them realize their dreams. In the future, TME looks forward to working with more musicians to make progress together, to bring musicians and high-quality original musical content to a broader global stage, and to show the power of Chinese music to the world.

About Tencent Music Entertainment

Tencent Music Entertainment Group (NYSE: TME and HKEX: 1698) is the leading online music and audio entertainment platform in China, operating the country's highly popular and innovative music apps: QQ Music, Kugou Music, Kuwo Music and WeSing. TME's mission is to use technology to elevate the role of music in people's lives by enabling them to create, enjoy, share and interact with music. TME's platform comprises online music, online audio, online karaoke, music-centric live streaming and online concert services, enabling music fans to discover, listen, sing, watch, perform and socialize around music. For more information, please visit ir.tencentmusic.com.

Media Contact

TME.PR@icrinc.com
+1 (646) 992-2986 

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SOURCE Tencent Music Entertainment Group

FAQ

What is Tencent Music Entertainment Group's stock symbol?

Tencent Music Entertainment Group's stock symbol is TME.

How much global distribution has Tencent Music achieved?

As of October 2022, nearly 40% of new releases by Tencent musicians were distributed globally.

What is the income growth experienced by Tencent musicians?

One musician achieved an income increase of up to 835%.

How many platforms can Tencent musicians distribute their music to?

Musicians can distribute their music to over 150 platforms globally.

What major streaming achievement did Tencent Music musicians reach?

Their works have accumulated over 500 million streams on YouTube.