Tencent Music Unveils Recent Global Accolades for Music Industry Support and Cultural Exchange

Rhea-AI Summary

Tencent Music Entertainment Group (TME) announced multiple accolades recognizing its role in the music industry. TME ranked in the top 15 of Chinese Internet enterprises and received numerous employer branding awards in December 2021. In January 2022, TME's Executive Chairman was featured in People, while CEO Ross Liang was included in Billboard's Power List. According to MIDiA's report, TME holds a 13% market share in global music subscriptions, positioning it third worldwide. The company plans to enhance its 'dual engine content-and-platform' strategy to foster global growth and support for Chinese musicians.

Positive

• Ranked top 15 in China's Internet enterprises Comprehensive Strength Index.
• Received multiple employer branding awards in December 2021.
• Executive Chairman featured in People magazine as a 'Face of 2021'.
• CEO named in Billboard's 2022 Power List.
• TME holds a 13% share in global music subscription market, ranking third.

Negative

• None.

SHENZHEN, China, Jan. 30, 2022 /PRNewswire/ -- Tencent Music Entertainment Group ("TME," or the "Company") (NYSE: TME), the leading online music and audio entertainment platform in China, unveiled recent domestic and international accolades for supporting the development of the music industry, innovation and for building a stage for global cultural exchange.

Tencent Music Entertainment Group has recently received multiple authoritative domestic and international awards that recognize its profound execution of development strategies and comprehensive service ecosystem. In November 2021, TME ranked top 15 in the Comprehensive Strength Index of Chinese Internet enterprises (2021) released by the Internet Society of China; in December, TME won over a dozen employer branding awards in brand communication, employee experience, employee perception, and corporate social responsibility from organizers including the Employer Branding Creative Festival, Laguo, Liepin, Maimai and Moka; TME received six awards in brand communication for the first time, in visual, video, digital and intelligent communication, ranking the top in the Greater China region; on December 28, TME ranked top 10 in the 2021 Top 30 Employers in the China Digital Copyright Industry Followed by Undergraduates list published by the National Copyright Trade Center of Renmin University of China.

The contribution to China and global music industrial development by Tencent Music Entertainment Group and its management was also recognized by top-tier media. In January 2022, TME's Executive Chairman Cussion Pang was selected as one of the "Faces of 2021" by People, a domestic authoritative magazine, and appeared on the new year cover of the magazine in 2022 together with nine other outstanding representatives from different fields. On January 26, CEO Ross Liang was named to Billboard's 2022 Power List with other notable core industry figures who have made significant achievements in 2021 in terms of revenues, music asset investments, and artist support, recognizing TME's steady growth and development, and strong industrial impact. 

Institutions and media have expressed optimism about TME and the development prospects of China's music industry in recent years. According to MIDiA's Music subscriber market shares Q2 2021 research report released in January 2022, China has witnessed the largest user growth globally as an emerging market, while TME ranked third in global music streaming with a 13% market share of music subscriptions. The growth of service ecosystem is expected to continue the empowerment of China music in the global digital music market.

By executing on its "dual engine content-and-platform" strategy, TME has been devoting to the construction of all-around services and a multi-value co-creation system with industry partners through advanced technology and rich industry resources. Meanwhile, it provides services for hundreds of thousands of Chinese musicians through the Tencent Musician Platform, promoting and building a diversified stage for their music dreams. TME will continue to cooperate with more global industry partners to further promote high-quality Chinese music content overseas and realize the global value of music works, as part of its continuous contribution to the long-term healthy development of the digital music industry.

About Tencent Music Entertainment

Tencent Music Entertainment Group (NYSE: TME) 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  
+86 138-1079-1408

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SOURCE Tencent Music Entertainment Group

FAQ

What recent awards did TME receive?

TME received multiple awards, ranking top 15 in the Comprehensive Strength Index of Chinese Internet enterprises and winning several employer branding awards in December 2021.

What is TME's market share in global music subscriptions?

TME holds a 13% market share in global music subscriptions, ranking third worldwide according to MIDiA's research.

Who recognized TME's Executive Chairman recently?

TME's Executive Chairman Cussion Pang was recognized as one of the 'Faces of 2021' by People magazine.

What did Billboard recognize about TME's CEO?

TME's CEO Ross Liang was named in Billboard's 2022 Power List for significant achievements in revenue and music asset investments.