Peng Jiaxin, CEO of Tencent Music Entertainment Group: China will become an important engine for growth in the global music market

Music Matters was held in Singapore on September 11th and specially set up the "Chinese Music Forum". Tencent Music Entertainment Group Group, as the only invited digital music service provider in mainland China, talks to the global music industry giants on behalf of the Chinese music industry.

Music Matters, known as the iconic music event of the Asia-Pacific region, was held in Singapore on Sept. 11. Unlike in the past, Chinese music has become the "home venue" of this forum. Music Matters has specially set up the "China Music Forum". Tencent Music Entertainment Group Group, as the only invited digital music service provider in mainland China, talks to the global music industry giants on behalf of the Chinese music industry.

at the forum, Peng Jiaxin, CEO of Tencent Music Entertainment Group Group, delivered a keynote speech on "Chinese Music: the Best Times", interpreting the reform and future development trend of China's digital music market.

< strong > < strong > the door of world music outlook resumes the reunion of international celebrities < / strong >

All That Matters is regarded as the foresight door of Asian entertainment industry, in which Music Matters is the highlight of All That Matters and is called" the three major exhibitions of world music records "with French MIDEM and American SXSW. As the most high-profile feast of the Asia-Pacific music industry, Music Matters brings together the most influential figures of the music industry every year to collide ideas and exchange views according to the industry trend through the industry forum.

this year's Music Matters has also attracted many global music celebrities, including senior executives of international record companies such as Universal Music, Warner Music and Sony Music, as well as heavyweight guests related to the music industry, while Tencent Music Entertainment Group Group is the only mainland Chinese digital music service provider invited.

< strong > there is still huge room for growth in the future when Chinese music becomes the home field < / strong >

different from previous years, this forum, Music Matters specially set up the "Chinese Music Forum", and Chinese music has become the "home court". The keynote speech "Chinese Music: the Best era" delivered by Peng Jiaxin, CEO of Tencent Music Entertainment Group Group, has received wide attention from the global music industry.

"the Chinese market has turned magnificently and is becoming the growth engine of the global music industry." Peng Jiaxin said at the meeting that China's music market ushered in a new era in 2015. after the baptism of the "strictest copyright order", the industry gradually achieved legalization, based on the gradually standardized copyright order of the industry. the consciousness of users to pay is also gradually awakened, the concept of "music is free" is constantly changing, and the habit of paying is being formed. This has become the starting point for the take-off of China's music market.

Peng Jiaxin shared a set of data at the conference," according to the IFPI International Phonographic Industry Association report, recorded music revenue in China increased by 63.8% in 2015, reaching US $168 million, and exceeded US $200 million for the first time in 2016. China's music market has also reached a new high in the global ranking, reaching 12th, and digital music has entered the top 10 in the world, ranking ninth. "

Chinese music has entered the fast lane of development and still has great potential in the future. According to another set of data shared by Peng Jiaxin, China's per capita music income was only $0.1 in 2016, compared with $21.7 in Japan, $16.4 in the United States and $6.5 in South Korea. "in the next decade, Chinese concerts will be better," says Peng Jiaxin. In the future, China will become the most important source of growth for the global music market.

< strong > Tencent leads industry changes to bring more possibilities to Chinese music < / strong >

Peng Jiaxin said that as a digital music brand that has been deeply cultivated in the Chinese music market for more than a decade, Tencent Music Entertainment Group Group has made unremitting efforts to promote the transformation of digital music in China.

first, take the lead in cracking down on piracy and promoting the legalization of the industry. In 2015, Tencent, as one of the major sponsors, jointly established the China online legitimate Music Promotion Alliance with the National copyright Administration and other government agencies to work closely together to crack down on music infringement and piracy, gradually eliminating piracy and promoting the legalization of the industry; second, the vanguard of business model innovation. As we all know, Tencent Music Entertainment Group Group first created the "digital album" model at the end of 2014, achieving a miracle of sales ranging from 0 to 100 million in less than 18 months.

Today, Tencent Music Entertainment Group Group has become the leading service provider of online music in China, with a strong and differentiated product portfolio of QQ Music, KuGou Music, Kuwo Music, National singing and KuGou Live. It has established deep cooperation with hundreds of record companies and copyright holders around the world, such as Universal Music, Warner Music and Sony Music. Yuku ranks first in the industry with 17 million yuan.

although it has become a leader in the industry, Tencent Music Entertainment Group Group's exploration of China's music market has never stopped. Peng Jiaxin said that in the future, China's music market will show four major trends: first, music content will be diversified. Punk, hip-hop, ballads and other long-tail content will become more and more attractive; second, social interaction to create new ways of music consumption; third, online platform to enhance offline experience. Fourth, technological innovation breaks the traditional use scene, with the progress of technology, users can enjoy music anytime and anywhere in any scene.

"these new market opportunities will provide more imagination and possibilities for the development of China's digital music market." Peng Jiaxin said that at present, Tencent Music Entertainment Group Group is making great efforts to build an ecosystem of the music industry, exploring diversified business models such as music social networking, music e-commerce, fan economy, O2O performance, digital distribution, and so on. it is bringing more ways to play in China and even the world music market. As China's music market is more and more in line with international standards, Tencent hopes to work with more international partners to witness the rise of China's music industry in the future.

Edit: mary