SHENZHEN, China, May 11, 2022
/PRNewswire/ -- Tencent Music
Entertainment Group ("TME," or the "Company") (NYSE: TME), the
leading online music and audio entertainment platform in
China, released a year-end report
for the China digital music
industry in 2021. Developed by the TME Research Institute, the
report describes the Chinese music landscape in 2021 and highlights
key developments using TME's industry-leading insights and data
analysis capabilities.
Download Link:
https://yobang.tencentmusic.com/pdf/DigitalMusic2021.pdf
The report is composed of three sections that provide a complete
overview of the music industry from different perspectives. The
first section describes a new evaluation methodology that uses five
parameters to analyze the music industry: industry productivity;
new content consumption; leading artists and songs variability;
ecosystem diversity; and content crossover capacity. The second
section discusses four industry trends in 2021, while the third
section supplies a review of the year's top songs and artists.
A vital industry with booming scale and increasing
variability
Productivity, which is a core evaluation index, reflects the
industry's vitality. In 2021, China's music productivity set a new record in
terms of scale and speed. According to the report, the number of
new songs in 2021 reached over 1.14 million, representing
year-over-year growth of 53.1%. Moreover, newly-launched music
attracted more user attention, with listening growth of 9.3% and
listening share expansion to 24.3%. The number of new musicians
rose 41.2%, indicating a trend that indie musicians can
increasingly create and distribute original music works of their
own. More than 100 musicians achieved at least 500 million annual
streams, reflecting the increasing variability of the industry,
which brought vast opportunities to more musicians and contributed
to the long-term vitality of the industry's development.
In addition, genre diversity was greatly enhanced in 2021. In
terms of rap, R&B, electronic music, rock, and folk music, the
number of songs that received more than one million streams
increased by 4.5%, with prominent growth in the rap and electronic
genres. Chinese traditional cultural music and global pop music
also enjoyed a recognizable increase in popularity, with the
listening volume of the former rising 26.2% compared to that of
2020.
Crossover with other content forms also led to improvements in
the music industry's vitality. Apart from movies and comics, music
crossover penetrated into business marketing, recording 206
commercial songs with brand cooperation agreements by TME in 2021,
with average annual listening volume of over 6.82 million.
Improving music quality, and providing superior user
experiences
The report provided observations and analysis of
widely-discussed topics in the industry, and shed light on the
future outlook, serving as an insightful reference for music
professionals. The report pointed out that the development of the
Internet has lowered the requirements to enter the industry, as
musicians have more opportunities to create and distribute music.
With this change, music platforms need to integrate resources and
data to support music creation and musician cultivation. As of
July 2021, the number of musicians
who had earned an average monthly income of more than RMB10,000 on the Tencent Musician Platform increased eight times
compared to the same period in 2020.
Facing unprecedented growth in music creation, the industry
started to consider how to build up a high-quality music ecosystem.
The report indicated that music labels should shift their focus
from quantity to quality in music creation, while music platforms
should introduce advanced technologies for content distribution and
user recommendation. Through such efforts to seek strategies that
benefit the ecosystem, the industry will achieve healthy and
sustainable development.
With this attitude of embracing more cutting-edge concepts, the
music industry also tapped into the use of non-fungible tokens
(NFT) in 2021. TME pioneered NFT initiatives by introducing NFT
vinyl records, 3D digital collectible figures and others, providing
new ways for interaction between musicians and fans.
TME is dedicated to providing leading insights and advisory to
China's music industry. By driving
innovations in products and services, TME will continue to empower
musicians, enrich user experience and fulfill social
responsibilities. TME is committed to using technology to elevate
the role of music in people's lives, to promoting the healthy
development of China's music
industry, and to optimizing the music ecosystem.
About Tencent Music
Entertainment Group
Tencent Music Entertainment Group
(NYSE: TME) is the leading online music and audio entertainment
platform in China, operating the
country's highly popular and innovative music apps: QQ Music, Kugou
Music, Kuwo Music and WeSing. TME's mission is to use technology to
elevate the role of music in people's lives by enabling them to
create, enjoy, share and interact with music. TME's platform
comprises online music, online audio, online karaoke, music-centric
live streaming and online concert services, enabling music fans to
discover, listen, sing, watch, perform and socialize around music.
For more information, please visit ir.tencentmusic.com.
Media Contact
TME.PR@icrinc.com
+1 (646) 992-2986
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SOURCE Tencent Music Entertainment
Group