Tencent Music Taps Into In-Vehicle Audio Market With Ximalaya Deal

While short videos are all the rage lately, Tencent Music's latest acquisition bolsters its position in the strategically important market for long-form audio content Key Takeaways: Its most recent application said Ximalaya accounted for 25% of China's online audio market in 2023 based on online audio revenue. It said its user base rose above the 600 million mark last year, with 318 million active monthly users accessing its material using their Tencent Music will pay $1.26 billion for Ximalaya, China's lea ...