Tencent Music Leisure, China’s largest operator of music streaming companies, is increasing its involvement in dwell music by partnering with Galaxy Company, the company representing South Korean rapper G-Dragon, for his regional tour.
The partnership will cowl numerous markets, together with Southeast Asia, the Center East, Hong Kong, Macau, Taiwan, Australia, and New Zealand.
“Collaborating with a famend international musician like G-Dragon aligns completely with TME’s imaginative and prescient of connecting worldwide audiences with distinctive music experiences,” stated TC Pan, Group Vice President of Tencent Music.
“This partnership not solely strengthens our presence within the international market, but in addition underscores our dedication to empowering music companions and artists to succeed in their full potential on the world stage.”
“Collaborating with a famend international musician like G-Dragon aligns completely with TME’s imaginative and prescient of connecting worldwide audiences with distinctive music experiences.”
TC Pan, Tencent Music Leisure
Yongho Choi, CEO of Galaxy Company, added: “We’re delighted to companion with Tencent Music Leisure, a worldwide entertainment-tech firm listed on NYSE and the Hong Kong Inventory Trade. Constructing on this strategic partnership, we plan to combine AI, AR, blended actuality, and robotics into leisure to create a brand new sort of live performance expertise for international audiences.”
The alliance comes as Tencent Music expands its international presence with efforts like its International Music Outreach program, which supplies a world platform for Chinese language music artists and facilitates cross -border collaborations. This system kicked off in Singapore in September, that includes a sequence of occasions together with dwell performances, music classes, and trade boards all aimed toward selling Chinese language music abroad.
Along with its Chinese language music streaming companies QQ Music and Kugou, in-car music app Kuwo and karaoke app WeSing, the corporate additionally operates the JOOX streaming service in Southeast Asia.
Within the first half, Tencent Music added about 10 million internet paying subscribers, holding tempo with Spotify. Its total income from music companies jumped 27.7% YoY to RMB 5.42 billion ($760.6 million) within the second quarter of the yr.
Between December 2023 and June 2024, TME added 10.3 million paying music streaming subscribers, with 6.8 million subscribers added within the first quarter and 3.5 million added within the second quarter of 2024.
Music Enterprise Worldwide
