Music industry

Tencent Music Reveals Recent Global Honors for Music Industry Support and Cultural Exchange

Shenzhen, China, January 30, 2022 /PRNewswire/ — Tencent Music Entertainment Group (“TME” or the “Company”) (NYSE:TME), the leading online music and audio entertainment platform in Chinaunveiled recent national and international accolades for supporting music industry development, innovation and building a stage for global cultural exchange.

Tencent Music Entertainment Group recently received several authoritative national and international awards that recognize its deep execution of development strategies and comprehensive service ecosystem. In November 2021TME ranked among the top 15 in the Global Chinese Internet Business Strength Index (2021) published by the Internet Society of China; in December, TME won more than a dozen employer brand awards in the areas of brand communication, employee experience, employee perception and corporate social responsibility from organizers such as the Employer Branding Creative Festival, Laguo, Liepin, Maimai and Moka; TME received six awards for the first time in brand communication, visual, video, digital and intelligent communication, ranking first in the Greater China Region; to December 28TME ranked among the top 10 employers in China’s digital copyright industry in 2021, followed by the list of undergraduates published by the National Copyright Business Center of Renmin University from China.

The contribution to China and the global industrial development of music by Tencent Music Entertainment Group and its management have also been recognized by leading media. In January 2022TME Executive Chairman Cussion Pang has been selected as one of the “Faces of 2021” by People, an authoritative national magazine, and appeared on the magazine’s New Year’s cover in 2022 along with nine other outstanding representatives from different fields. At January 26CEO Ross Liang was named to Billboard’s 2022 Power List along with other notable grassroots industry figures who made significant achievements in 2021 in terms of revenue, investment in music assets, and artist support, acknowledging the constant growth and development of TME and its strong industrial impact.

Institutions and the media have expressed optimism about TME and the development prospects of China the music industry in recent years. According to MIDiA’s Q2 2021 Music Subscriber Market Share Research Report released in January 2022, China experienced the highest user growth in the world as an emerging market, while TME ranked third in global music streaming with a 13% music subscription market share. The growth of the service ecosystem should continue to empower China music in the global digital music market.

Executing its strategy of “dual-engine content and platform”, TME has been dedicated to building a comprehensive service and multi-value co-creation system with industry partners through technology leading edge and rich industry resources. Meanwhile, it provides services to hundreds of thousands of Chinese musicians across the Tencent Platform of musicians, promoting and building a diverse scene for their musical dreams. TME will continue to cooperate with more global industry partners to further promote high-quality Chinese music content overseas and realize the global value of musical works, as part of its continued contribution to the long-term healthy development of the digital music industry.

On Tencent Music Entertainment

Tencent Music Entertainment Group (NYSE: TME) is the leading online music and audio entertainment platform in China, leveraging 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 includes online music, online audio, online karaoke, music-focused live streaming and online concert services, allowing music fans to discover, listen, sing, watch, play and socialize around music. For more information, visit ir.tencentmusic.com.

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THE SOURCE Tencent Musical Entertainment Group