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Tencent Music rose more than 3%, and its average monthly revenue of more than 10,000 musicians in 2021 doubled, and NFT will generate revenue for musicians

via:凤凰网     time:2022/5/11 6:01:03     readed:135

On May 10, Tencent Music Data Research Institute released the "2021 Chinese Digital Music Annual White Paper". According to the data, the total number of new Chinese songs in 2021 reached 1.145 million, an increase of 53.1% over 2020, that is, a new song was born every 27 seconds.

The white paper shows that the boom in the NFT market in 2021 has also penetrated the music circle, and world-renowned musicians have tested the waters, and head music companies and platforms have successively come down. For musicians, the Music NFT is undoubtedly a complement to the current revenue dimension. NFT transactions can also open up more possibilities for musicians to further amplify their copyright earnings.

As of July 2021, the number of musicians with an average monthly income of more than 10,000 in the past year has increased by 9 times on Tencent's musician platform in one year.

According to public information, Tencent Music Entertainment Group was founded in 2016 and listed in the United States in 2018, with four major music products: QQ Music, Kugou Music, Kuwo Music and National K-Song. As of press time today, Tencent rose more than 3% to $3.92 per share, with a total market capitalization of $6.636 billion. ( Tianyu)

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