In the past, the outside world always held a great prejudice against the Chinese music market, mainly because online and offline piracy was rampant.
However, as a technology giant, Tencent with a big business has found a good way to attract users to pay.
For example, many QQ Music Green Diamond users have actually signed up for bundled packages that allow them to simultaneously access Tencent’s other add-on products and services — such as videos, comics, and mall memberships.
Additionally, subscribers can gain other value-added experiences on the QQ Music platform, such as high-fidelity streaming, access to online concerts, and customizable app layouts.
Finally, aside from the highly competitive 35 RMB “Midnights” album pricing, Swift’s consumer appeal among domestic fan groups is also quite strong.
After all, the Chinese-speaking musicians who can compete with Taylor over the years, only the king represented by Jay Chou can make people willing to pay the same amount.
【Background information】
The good news is that more and more users are paying for Tencent Music products, but the penetration rate is still not very high.
In the second quarter of this year, app subscribers to the three major music streaming platforms under the Tencent Music Entertainment (TME) group reached 82.7 million, up 25% year-on-year.
But considering the 593 million monthly active users, that means only 14% bought it. That compares with 188 million (43%) of the 433 million Spotify users who subscribed to premium memberships during the same period.