Reasons why Tencent music will show growth potential
Tencent music is related to Chinese internet giant Tencent and that shows the kind of solid backing it has. Unlike others, Tencent music is not just singularly streaming music, it has four apps related to music and all of them are extremely popular. Ready to give the others a fight for their money read on to know why we feel that Tencent music will show growth potential.
- Tencent music has the largest collection of songs in comparison to the other players operating in the Chinese market. With a library of 30 million songs in their kitty, they prepare playlists as per your desire which is another reason why they are loved so much.
- The fact that Tencent music is like a social platform for music lovers to bond is also working in its favor. People love to bond here with their friends and the ability to interact with celebs and karaoke is a blessing too.
- The parent company of Tencent music is also the owner of “We chat” a popular app of the Chinese market. Using this app Tencent is able to ask its users to share the content on their apps. This, in turn, proves beneficial as they can now get more than one listeners to join up after hearing the content.
- While the other music streaming services are finding it difficult to sustain the same does not hold true for Tencent music. Its money making module is different from the rest which ensures its profitability. Thanks to its connection with We chat the customer acquiring costs are reduced. It also has a multifaceted monetization platform where it sells virtual items sells songs and uses premium subscriptions to make money.
- With regards to the virtual goods segment, the company tends to make 100% profit on the same. So even if the company has to pay a certain amount as royalty fees it still stands to make money from the deal.
- Tencent music has been able to penetrate the Chinese internet user’s mindset. If China has 800 million internet users 644 million are there on Tencent and that is a huge achievement in itself. Eventually, the popularity of We Chat would also contribute to a boost in the growth.
As Tencent music stands to gain you would be pleased to know that Beatrising can distribute your music in all the best web stores in China. In fact, Beatrising also fulfills your Digital Music Distribution needs and if you want to make a breakthrough in the industry get in touch with them soon.