Tencent Music

Tencent Music Entertainment Group (TME; Chinese: 腾讯音乐娱乐集团) is a company that develops music streaming services for the Chinese market. Tencent Music's apps include QQ Music, Kugou, Kuwo, and WeSing; which have more than 800 million active users and 120 million paying subscribers. As of July 2016, Tencent Music's three services held an estimated 56% market share of music streaming services in China.

Tencent Music Entertainment Group
FormerlyChina Music Corporation
Company typePublic
NYSE: TME
SEHK: 1698
ISINUS88034P1093 
PredecessorChina Music Corporation
Tencent's QQ Music division
FoundedJuly 2016 (2016-07)
HeadquartersShenzhen, Guangdong, China
ProductsQQ Music, Kugou, Kuwo, WeSing, Ultimate Music
Revenue CN¥31.24 billion (2021)
Owners
  • Tencent (57% with 61.6% Shareholders Voting Right)
    Pacific Alliance Group (9.1% with 11% Shareholders Voting Right)
    Spotify (16.47%)
    CICFH entities (6.1% and 7.4% Shareholders Voting Right)
    Zhenyu Xie (4% and 4.9% Shareholders Voting Right)
    Dhanin Chearavanont( 4% and 4.7% Shareholders Voting Right)
Number of employees
5,966 (December 2021)
ParentTencent Interactive Entertainment Group
Websitewww.tencentmusic.com

In the first quarter of 2021, Tencent Music announced it had 60.9 million paying users, up 42.6% compared to the 42.7 million paying users in the first quarter of 2020. In addition, the total number of music streaming users was announced to be 615 million, a drop of 6.4% compared to the first quarter of 2020 (657 million).

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