Tencent Music Entertainment Group (TME) (NYSE: TME), the leading online music entertainment platform in China, today celebrates three years of achievements in artist support by its indie musician program, Tencent Musician.
Since it launched three years ago, Tencent Musician has provided powerful backing for musicians to continue their creation. The program has generated 590 million yuan in revenue for original music content creators since its inception.
Both before and since the COVID-19 pandemic swept across the world, Tencent Musician has run the “One Hundred Million Yuan Incentive Project”, which was later followed by the “One Hundred Million Yuan Incentive Project 2.0”, a more sustainable and upgraded project. The One Hundred Million Yuan Incentive Project has opened up a new model for musicians to generate, or increase, their incomes via a variety of incentive methods. According to data from the One Hundred Million Yuan Incentive Project 1.0, more than 40 percent of the musicians who enjoyed exclusive incentives were able to double their incomes, while over 80 percent saw their incomes rise by more than 50 percent.
In the first half of 2020, to support musicians and to provide music entertainment for the public amid the COVID-19 pandemic, which had caused live music performances to be cancelled, Tencent Musician organized 50 live-streamed concerts with 109 groups of musicians that reached an audience of nearly 8 million people.
Leveraging Tencent Musician and the TME ecosystem, TME provides support for indie musicians in three ways:
- Taking advantage of TME’s 800 million monthly active users, TME helps generate traffic for musicians, increasing their exposure and building audience awareness. As of July 24, 2020, total playbacks exceeded 400 billion across TME platforms, while the amount of original music reached 850,000 songs.
- Through income support projects and incentive plans, TME continues to boost the income levels of musicians, as mentioned above.
- TME holds industry seminars for musicians to discuss different industry phenomena and topics. During the pandemic, Tencent Musician launched a campaign to gather a collection of original charity songs, which received responses from thousands of musicians with more than 2,000 songs. The music collection provided important moral support in the fight against the pandemic.
In addition, TME attaches great importance to opening up performing opportunities for musicians. For the offline celebration events of the fourth anniversary of TME, the company tailored an interactive session for Tencent musicians to perform for the public.
Within just four years since inception, TME was able to achieve a steady sustainable growth and to successfully list in the U.S. as a leading enterprise in the China music industry and a globally recognized presenter of Chinese music. Through its diversified music social entertainment products, TME creates a listening, watching, singing, performing and socializing all-in-one music entertainment experience and allows users to participate in music creation, appreciation, sharing and interaction.
TME is building a comprehensive social community to connect and benefit users, record companies, and talented musicians. In addition to Tencent Musician, all of the other programs and platforms under TME cooperate with each other and third-party music labels to support different types of musicians, illustrating the openness and inclusiveness for original music.