Tencent Music Entertainment revealed that 590 million yuan (more $84 million) was paid to independent artists through its “Tencent Musician Program”.
Launched three years ago, Tencent Musician is an online service for emerging independent artists to upload their music to TME platforms.
The program also offers independent artists services such as music publishing, marketing, data management, copyright management and professional training.
In a press release announcing the revenue, TME also released data from its “One Hundred Million Yuan Incentive Project”.
Led by Tencent Musician, TME says the project has “opened up a new model for musicians to generate or increase their income through a variety of incentive methods.”
More than 40% of musicians using the program were able to double their income, reports TME, while more than 80% saw their income increase by more than 50%.
During the COVID-19 pandemic, Tencent Musician also held 50 live-streamed concerts that reached an audience of nearly 8 million people.
With 800 million monthly active users, TME also reports that as of July 24, 2020, the total number of plays exceeded 400 billion on TME platforms, including QQ Music, Kugou and Kuwo.
TME reported in May that during the first quarter of 2020, its online music subscription revenue jumped 70% year-on-year to $170 million.
“TME is building a comprehensive social community to connect and benefit users, record labels and talented musicians.”
Tencent Music Entertainment
“TME is building a comprehensive social community to connect and benefit users, record labels and talented musicians,” the company said in a press release.
“In addition to Tencent Musician, all other programs and platforms under TME cooperate with each other and with third-party music labels to support different types of musicians, exemplifying the openness and inclusiveness of original music.The music industry around the world