Why QQ Music, China’s Spotify, is profitable while other streaming music providers aren’t
While more people move to streaming music over downloading as a consumption method, global providers like Spotify still struggle to turn a profit.
But thanks to its massive scale and diverse revenue opportunities, China’s version of Spotify, QQ Music, is actually making money, the company claims
According to Chinese reports, the general manager of the music division of QQ’s owner Tencent, Wu Weilin, said this week at a music industry forum that the service has managed to turn a profit.
Tencent is a Shenzhen-headquartered internet giant that is perhaps better known for its dominant WeChat messaging app. Its other big brand name, QQ, is a family of sites that includes a blog, a games platform, and a social network. Read more…
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