What Tencent Music’s IPO filing says about China’s streaming industry

China’s largest digital music distributor operates under an integrated entertainment business model, which allows it to make a profit while rival Spotify continues to struggle with losses.

It is no secret that the global music industry is struggling to identify a sustainable model that can serve the interests of music publishers, distributors and consumers.

While previous eras coped with the issue of copyright, in the digital era, the global music industry faces a new set of problems especially that of content monetisation. With so many free music content options available on the internet, consumers are less willing to pay for it. 

China, while yet to establish itself as a major player in the sector, may offer some hints as to how the struggling industry can transform itself into a long-term sustainable business...

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