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07-29-2016, 04:50 PM
Why QQ Music, China's Spotify, is profitable while other streaming music providers aren't
http://i.amz.mshcdn.com/5LRsjrBuKYJsQwN_DUzrH7z5GY4=/575x323/https%3A%2F%2Fblueprint-api-production.s3.amazonaws.com%2Fuploads%2Fcard%2Fima ge%2F160819%2FAP_888526495834.jpghttp://a.amz.mshcdn.com/assets/feed-tw-f7c0a094d16b7ee7c91a1e50839a8e00.jpg (http://twitter.com/share?via=Mashable&text=Why+QQ+Music%2C+China%27s+Spotify%2C+is+profi table+while+other+streaming+music+providers+aren%2 7t&url=http%3A%2F%2Fmashable.com%2F2016%2F07%2F29%2Fq q-music-profit-spotify%2F%3Futm_campaign%3DMash-Prod-RSS-Feedburner-All-Partial%26utm_cid%3DMash-Prod-RSS-Feedburner-All-Partial)http://a.amz.mshcdn.com/assets/feed-fb-c0a21e8841794479b8086c32c6f24ba1.jpg (http://www.facebook.com/sharer.php?u=http%3A%2F%2Fmashable.com%2F2016%2F07 %2F29%2Fqq-music-profit-spotify%2F%3Futm_campaign%3DMash-Prod-RSS-Feedburner-All-Partial%26utm_cid%3DMash-Prod-RSS-Feedburner-All-Partial&src=sp)
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 (http://ent.qq.com/a/20160729/026904.htm), 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.
SEE ALSO: Here's why Pandora is up for sale — and why it hasn't sold yet (http://mashable.com/2016/07/21/pandora-sale-liberty-media/)
Tencent is a Shenzhen-headquartered internet giant that is perhaps better k**wn 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... (http://mashable.com/2016/07/29/qq-music-profit-spotify/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)
More about Music Streaming (http://mashable.com/category/music-streaming/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Spotify (http://mashable.com/category/spotify/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Tencent (http://mashable.com/category/tencent/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Qq (http://mashable.com/category/qq/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), and China (http://mashable.com/category/china/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)http://feeds.feedburner.com/~r/Mashable/~4/IsIvB65CovI
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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 (http://ent.qq.com/a/20160729/026904.htm), 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.
SEE ALSO: Here's why Pandora is up for sale — and why it hasn't sold yet (http://mashable.com/2016/07/21/pandora-sale-liberty-media/)
Tencent is a Shenzhen-headquartered internet giant that is perhaps better k**wn 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... (http://mashable.com/2016/07/29/qq-music-profit-spotify/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)
More about Music Streaming (http://mashable.com/category/music-streaming/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Spotify (http://mashable.com/category/spotify/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Tencent (http://mashable.com/category/tencent/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), Qq (http://mashable.com/category/qq/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial), and China (http://mashable.com/category/china/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)http://feeds.feedburner.com/~r/Mashable/~4/IsIvB65CovI