Tencent Music executives insisted new regulations won’t impede the growth of its subscription business -- but that they will do some damage
said the company is in conversations to license content from companies that had exclusive content with other platforms. “We will be fully committed to bringing the best quality of music and continue to expand our music library for our users,” he said.
With regulatory restrictions on licensed music, Tencent Music can operate on the fine line between forbidden, exclusive music and “differentiated” content that doesn’t require a license from a large record label. Tencent Music takes self-produced music from independent artists and co-produces music with its parent company, tech giant Tencentlready resulted in the co-production of “two dozen” successful song with popular artists and which T.
Regulators’ demands will hurt the company in various ways, however. Yip said the music services’ advertising revenue will be lower than previously expected. And as a result of regulations about content safety and tipping behavior, the company “expect[s] the second half [of 2021] to see further pressure” on margins,” he said.
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