Dominant tencent is poised to benefit from china’s growing music market

Dominant tencent is poised to benefit from china’s growing music market

Summary
– At over 600 million users, China’s online music streaming population is greater than the United States’ population.
– Yet, in terms of revenue, China’s music market has never broken the global top 10 ranking for reasons such as piracy and unwillingness among Chinese consumers to pay for music.
– The Chinese government’s crackdown on piracy and rising incomes among China’s music users are catalysts that are leading to a rise in digital music services in China.
– Tencent dominates the market and is in a prime position to benefit.

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