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Turkish competition authority launches probe into Spotify
Reuters· 2025-09-25 11:55
Turkey's competition authority said on Thursday that it has launched an investigation into Spotify to look into possible discriminatory practices and predatory pricing in the online music streaming ma... ...
NetEase Cloud Music Inc. Reports First Half 2025 Financial Results
Prnewswire· 2025-08-14 09:37
Core Viewpoint - NetEase Cloud Music Inc. reported its financial results for the first half of 2025, showing a mixed performance with a decrease in overall revenue but significant growth in operating profit and net profit, driven by a focus on core music services and subscription-based revenue growth. Financial Performance - Revenue for the first half of 2025 was RMB3.83 billion, a decrease of 6.0% compared to RMB4.07 billion in the same period of 2024 [5] - Gross profit was RMB1.39 billion, a slight decrease of 2.3% from RMB1.43 billion in the same period of 2024, but gross margin improved to 36.4% from 35.0% [5][11] - Operating profit increased by 40.8% to RMB844.5 million from RMB599.9 million in the same period of 2024 [5] - Profit for the period reached RMB1.88 billion, compared to RMB809.9 million in the same period of 2024 [12] - Adjusted operating profit was RMB905.4 million, an increase of 35.0% compared to RMB670.9 million in the same period of 2024 [12] - Adjusted net profit reached RMB1.95 billion, compared to RMB880.7 million in the same period of 2024 [12] Revenue Breakdown - Revenue from online music services was RMB3.0 billion, an increase of 15.9% compared to RMB2.6 billion for the same period of 2024 [4] - Revenue from membership subscriptions increased to RMB2.5 billion from RMB2.1 billion for the same period of 2024 [4] - Revenue from social entertainment services decreased to RMB859.8 million from RMB1,510.8 million for the same period of 2024, attributed to a more prudent operational approach [5] User Engagement and Community - Total monthly active users (MAUs) showed steady growth, with a daily active user/monthly active user (DAU/MAU) ratio consistently exceeding 30% [7] - Users spent more time listening to music on the mobile app, indicating higher engagement [7] - The platform had over 819,000 registered independent artists contributing 4.8 million music tracks by June 2025 [17] Content and Product Innovation - The company expanded its music label catalogue, securing partnerships with popular K-Pop labels and renowned Chinese artists [19] - Enhanced product features, such as the "Magic Light Player," improved the music listening experience [9][27] - The introduction of new roles for music creators, such as AI Musician and Trainee Musician, aims to nurture emerging talent [20] Strategic Focus - The company plans to deepen collaborations with copyright holders and enhance its differentiated content offerings [13][15] - Future initiatives include optimizing the music listening experience and improving profitability through cost optimization and enhanced operating efficiency [18]
Tencent Music Taps Into In-Vehicle Audio Market With Ximalaya Deal
Benzinga· 2025-06-18 12:43
Core Viewpoint - Tencent Music's acquisition of Ximalaya Inc. signifies a strategic move to strengthen its position in the long-form audio content market, despite the current popularity of short videos [2][3]. Company Overview - Tencent Music Entertainment Group (TME) is China's leading online music streaming platform, and it plans to acquire Ximalaya, a prominent audio platform, to enhance its long-form audio offerings [3][4]. - The acquisition will involve a payment of $1.26 billion, which will account for up to 5.2% of Tencent Music's share capital, with additional shares contingent on performance goals [4]. Ximalaya's Market Position - Ximalaya holds a significant share of the online audio market in China, accounting for 25% of the market based on revenue in 2023, and has over 600 million users [7][8]. - The platform has faced challenges, including a combined loss of 3.17 billion yuan ($440 million) from 2018 to 2022, but turned a profit of 3.74 billion yuan in 2023 due to cost-cutting measures [8][9]. Strategic Implications - The acquisition will enhance Tencent Music's content library, adding over 5.2 million audiobooks and 240,000 podcast shows, which will help address its weaknesses in the long-form audio segment [11][12]. - Ximalaya's existing partnerships with over 80 car manufacturers, including Tesla and Nio, will provide Tencent Music with access to the in-vehicle audio market [12]. Financial Performance - Tencent Music reported a revenue of 7.36 billion yuan in Q1 2023, an increase of 8.7% year-on-year, with a net profit rise of 22.8% to 2.23 billion yuan, although it lost 20 million monthly active users during the same period [13]. Market Reactions - Following the announcement of the acquisition, Tencent Music's U.S. stock initially rose by 8% but closed down 0.92%, indicating mixed investor sentiment [15]. - Concerns regarding potential regulatory scrutiny over the acquisition may have contributed to the cautious market response [15]. Future Outlook - The deal is expected to diversify Tencent Music's content offerings and potentially boost profits, with investment bank CICC maintaining an "overperform" rating on the company [16]. - Tencent Music's current P/E ratio of approximately 21.8 times suggests it still holds investor appeal, and successful integration of Ximalaya's content could lead to a new growth phase for the company [17].
Marc Mysterio's Attorney: Amazon is ‘playing god with data' Billboard uses for charts
GlobeNewswire News Room· 2025-04-08 13:51
Core Viewpoint - Marc Mysterio is escalating his lawsuit against Amazon Music and DistroKid, alleging that Amazon employed a shadow-ban on his music, significantly impacting his reach and potential earnings [1][2]. Legal Action - The lawsuit was filed in the U.S. District Court for the Southern District of New York, claiming damages "in excess of $75,000" and alleging millions in losses due to the shadow-ban [2]. - Mysterio's legal team is preparing to serve a letter of preservation of evidence to Amazon Music, targeting 17 categories of evidence related to the shadow-ban [1][6]. Shadow-Ban Details - The shadow-ban, initiated on September 10, 2024, utilized an "IF/THEN" filter that rendered Mysterio's tracks "artist-less," preventing them from reaching his 1.25 million fans and affecting his visibility on Amazon Music [2][3]. - The ban has implications for chart integrity, particularly affecting Mysterio's standings on the Billboard Hot Dance and Electronic Songs Chart [3][4]. Evidence and YouTube Series - Mysterio's 3-part YouTube series highlights discrepancies in streaming data, showcasing how his music was blocked while other artists' tracks were promoted [5][6]. - The series includes evidence of streaming errors and contrasts Mysterio's station performance with that of other artists, emphasizing the impact of the shadow-ban [5]. Amazon's Response - Amazon partially restored Mysterio's "Related Artists" section but did not remove the shadow-ban, which Mysterio's legal team argues demonstrates intent to cause harm [6][7]. - The legal team claims that Amazon's actions indicate a manipulation of data that undermines the credibility of independent charts [4][7]. Artist Background - Marc Mysterio is a seasoned artist with over 80 million streams from September 2023 to August 2024, and he has collaborated with notable artists [3][8]. - He previously pulled his catalog from competing platforms like Spotify and Apple Music, raising concerns about how Amazon treats its exclusive artists [9].