Tencent Music facts for kids
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Formerly
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China Music Corporation |
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| Public | |
| Traded as | NYSE: TME SEHK: 1698 |
| Predecessor | China Music Corporation Tencent's QQ Music division |
| Founded | July 2016 |
| Headquarters | Shenzhen, Guangdong, China |
| Products | QQ Music, Kugou, Kuwo, WeSing, Ultimate Music |
| Revenue |  CN¥31.24 billion (2021) |
| Owners |
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Number of employees
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5,966 (December 2021) |
| Parent | Tencent Interactive Entertainment Group |
Tencent Music Entertainment Group, often called TME, is a big company that creates music apps for people in China. TME owns popular music apps like QQ Music, KuGou, Kuwo, and WeSing. Millions of people use these apps to listen to music. Over 800 million people use them actively, and more than 120 million pay for extra features. Back in 2016, TME's apps were already super popular, holding more than half of the music streaming market in China.
In early 2021, TME announced that over 60 million people were paying for their music services. This was a big jump from the year before. However, the total number of people using their free music streaming services went down a bit.
Contents
How TME Started
Tencent Music was created in July 2016. This happened when Tencent, a very large technology company, bought another company called China Music Corporation. Tencent wanted to make its music services even better.
Key Partnerships
In 2018, a music publishing company called Sony/ATV Music Publishing became a part-owner of Tencent Music. Later that year, TME planned to offer its shares to the public in the United States. This is called an IPO (Initial Public Offering).
In January 2019, TME teamed up with SM Entertainment. This is a huge entertainment company from South Korea. They agreed to work together on sharing and promoting music in China.
Music App Ban in India
In June 2020, the Government of India decided to ban QQ Music. This app was banned along with many other apps from China. The government said it was because of concerns about data and privacy. Tensions between India and China at the time might have also played a role in this decision.
Spotify's Investment
As of 2023, Spotify, another very popular music streaming service, owns a part of Tencent Music. Spotify owns about 16.47% of TME's shares.
Music Charts
In 2018, Tencent Music Entertainment Group started two new music charts in China. These charts help show which songs are most popular.
TME UNI Chart
The TME UNI Chart ranks the top songs in China. It looks at how many times songs are streamed and sold on platforms like QQ Music, KuGou, Kuwo, WeSing, Joox, and Weixin Video Account. It also uses listening data from public radio stations in China. In 2023, TME partnered with Billboard magazine. This means the TME UNI Chart is now part of Billboard's official global music charts.
TME Wave Chart
The TME Wave Chart is another ranking of top songs in China. This chart is created based on scores and ideas from over 250 music experts.
TME Korean Chart
In 2024, TME launched a special chart just for Korean songs. It's called the TME Korean Chart. It ranks the most popular Korean songs in China. It uses streaming and sales data from apps like QQ Music, KuGou, Kuwo, Polka Dot, and Joox.
