Tencent Music Entertainment Group (hereinafter referred to as Tencent Music) recently released its financial report for the first quarter of 2020, which showed that the group's revenue was 6.31 billion yuan, up 10% year-on-year, and the growth was still stable under the pressure of the epidemic. Among them, the group's paid users increased by 50.4% year-on-year to 42.7 million, while the global music streaming giant spotify's paid users increased by 31% year-on-year. How can Tencent music continue to enhance users' willingness to pay in the Chinese market with weak awareness of music payment? Simply from three aspects.
One is to adapt to user habits and upgrade product experience. Tencent's strong entertainment and social genes give Tencent music a great advantage in insight and satisfying user experience. For example, the personalized song lists of its platforms are constantly upgraded, and the playback rate of single songs is constantly improved, which has won the praise of users. Another example is the continuous upgrading of popular k-song products, in which the national k-song has come to a better looking 7.0 era, and the function of recording MV while singing promotes new monthly live growth. How to make users enjoy music content better,
Music, has always been Tencent's specialty in music.
Second, innovative content products, suitable for broad use scenarios. From the financial results, it is not difficult to see that Tencent music is currently in the field of long audio, on the one hand with a number of head online platform to reach strategic cooperation, on the other hand, online new products cool I listen, expand the group voice map. Moreover, in response to the Live needs of users in the epidemic, Tencent music is also built to integrate online and offline TME live, in just five weeks successfully held Lin Junjie, Liu Ruoying ," want to see you "OST and other online concerts. Among them, the April 15" want to see you "OST egg concert, the use of plot elements interspersed with song performance mode, so that online singing more unique rhythm, the final harvest of more than 6 million viewers.
Third, lay out the public broadcasting market and dig into the value of music. Tencent music recently invested in redio through equity on April 27 in the public music market, which is still in the blue ocean. Public music is an important scene of commercial music, providing BGM for coffee shops, large supermarkets and restaurants. According to Xie ruidio, China's benchmark offline public broadcasting company, covers hundreds of thousands of offline stores. After the cooperation, Tencent music will provide rich and diversified content music library for redio with its huge genuine music library to meet the personalized and differentiated music demand of the public music market; and redio will bring the scene of music value-added and the matrix of content promotion for Tencent music library.