Tencent is part of the Tencent group of companies based in Shenzhen, China, and is publicly listed on the Hang Seng with a valuation of approximately US$670bn. The Tencent group provides a variety of digital entertainment, technology, media, and internet related services.
Tencent offers the following music streaming services (together with the “Tencent Services”):
- QQMusic: music streaming and download service that launched in 2004.
- KuGou a music streaming and download service that launched in 2004, is one of the largest streaming services in China. KuGou was bought by China Music Corporation (“CMC”) in 2014 and Tencent acquired an interest via a merger with CMC in 2016.
- Kuwo: the fourth-largest music streaming service in China. Tencent also acquired an interest in Kuwo via a merger with CMC in 2016.
- WeSing: the largest online karaoke streaming service in China (with an estimated 77% online karaoke market share).
In 2016 the Tencent Services combined accounted for approximately 78%* of the Mainland Chinese domestic music streaming market. Its 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. Tencent platform comprises online music, online karaoke, and music-centric live streaming services, enabling music fans to discover, listen, sing, watch, perform and socialise around music.
It takes about 4-6 weeks for content to go live in Tencent.