Tencent Music Entertainment, China’s largest operator of music streaming services, is expanding its involvement in live music by partnering with Galaxy Corporation, the agency representing South Korean rapper G-Dragon, for his regional tour.
The partnership will cover various markets, including Southeast Asia, the Middle East, Hong Kong, Macau, Taiwan, Australia, and New Zealand.
“Collaborating with a renowned global musician like G-Dragon aligns perfectly with TME’s vision of connecting international audiences with exceptional music experiences,” said TC Pan, Group Vice President of Tencent Music.
“This partnership not only strengthens our presence in the global market, but also underscores our commitment to empowering music partners and artists to reach their full potential on the world stage.”
“Collaborating with a renowned global musician like G-Dragon aligns perfectly with TME’s vision of connecting international audiences with exceptional music experiences.”
TC Pan, Tencent Music Entertainment
Yongho Choi, CEO of Galaxy Corporation, added: “We are delighted to partner with Tencent Music Entertainment, a global entertainment-tech company listed on NYSE and the Hong Kong Stock Exchange. Building on this strategic partnership, we plan to integrate AI, AR, mixed reality, and robotics into entertainment to create a new kind of concert experience for global audiences.”
The alliance comes as Tencent Music expands its global presence with efforts like its Global Music Outreach program, which provides an international platform for Chinese music artists and facilitates cross -border collaborations. The program kicked off in Singapore in September, featuring a series of events including live performances, music sessions, and industry forums all aimed at promoting Chinese music overseas.
In addition to its Chinese music streaming services QQ Music and Kugou, in-car music app Kuwo and karaoke app WeSing, the company also operates the JOOX streaming service in Southeast Asia.
In the first half, Tencent Music added about 10 million net paying subscribers, keeping pace with Spotify. Its overall revenue from music services jumped 27.7% YoY to RMB 5.42 billion ($760.6 million) in the second quarter of the year.
Between December 2023 and June 2024, TME added 10.3 million paying music streaming subscribers, with 6.8 million subscribers added in the first quarter and 3.5 million added in the second quarter of 2024.
Music Business Worldwide