Music

The company said it will deepen collaboration with the broader Tencent ecosystem to enhance its promotional capabilities.

Tencent’s music arm has problems beyond antitrust matters, and other platforms are keen to take advantage in a promising market.

Alex Zhu, who created Musical.ly, plans to turn Resso into “the next TikTok,” one person familiar with the matter said.

The company’s apps include Simply Piano and Simply Guitar, with 10 million downloads worldwide and 1 million songs played every week since the start of the pandemic.

NetEase’s music service struck a deal with Sony to take on Tencent’s dominance in the sector.

While Tencent has enjoyed a more harmonious relationship with Chinese regulators compared to Alibaba, the company’s outsized presence in gaming and social media has raised monopoly concerns.

Mobile monthly active users of Tencent’s online music services decreased to 615 million from 657 million a year ago.

TME’s CEO Cussion Pang said the firm experienced double-digit user growth for its IoT products.