Tencent Music rakes in $315m from music streaming subs in Q2, adds 2.5m paying users

August 16, 2022By rightstech

Tencent Music Entertainment, which operates China’s biggest music streaming platforms, ended the second quarter of 2022 with 82.7 million paying music users. Online music streaming subscribers paid RMB 2.11 billion (USD $315 million) for TME’s music streaming services including QQ Music, Kugou Music and Kuwo Music in the quarter to end of June.

Source: Tencent Music rakes in $315m from music streaming subs in Q2, adds 2.5m paying users

RightsTech Extra

AI Companies Get the Picture

By Paul Sweeting

One of the biggest challenges facing copyright owners in grappling with the rapid development of generative AI technology, apart from a murky legal status, has been market failure, as discussed here in previous posts. The amount of existing material needed to train gen-AI models is so great, and so varied, that gauging the value of any one piece of it to establish a market price for it for licensing purposes is often effectively impossible. One group of rights owners is finding willing buyers among AI companies, however. An active, albeit for various reasons mostly sotto voce market has begun to emerge for the use of images held in large photo archives and by photo agencies and social media platforms, complete with per-unit industry and at least a nod toward creator attribution... Read More >>

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