suddenly want to watch a concert?
On the last day of May, Mayday held a one-hour online concert on the Tencent music platform, which caused a wave of screen refreshes.
A number of concert-related topics are on the list of hot searches on Weibo, among which the "May Antenna Concert" has been read nearly 800 million times. Many netizens left messages, "It's great, but the time is a little short", "The lineup is absolutely perfect, thank the organizer", "The dream of grabbing tickets for the Mayday concert has been fulfilled" and so on.
The concert on the May antenna will be broadcast live on 4 platforms: QQ Music, Kugou Music, Kuwo Music and Quanmin K Song. Data provided by Tencent Music shows that the total number of viewers on all online platforms (including four music platforms and Tencent Video, etc.) has exceeded 35 million .
As a TOP-level Chinese orchestra, the screen effect brought by the first online concert is obvious, and the TME Live behind this concert has also received more attention. Will
TME live be a new growth point for Tencent Music?
TME live is a live music brand launched by Tencent Music in March this year. It is positioned to "integrate live performances, online live broadcasts, fan economy, ticket sales, performance brokerage" and other performance ecology. According to Tencent Music, TME live has entered the preparatory stage since last year. It was originally planned to be launched this spring. The model mainly includes "offline preparation + online live broadcast" and "pure online presentation". However, a person from Tencent Music told 36Kr that at this stage, due to the epidemic, the only way to adopt a "pure online" model is to start.
Before Mayday, TME live has so far held 9 live concerts of Rainie Yang, Junjie Lin , "Want to See You" OST, Rene Liu, A-Lin, Coriander, Xiao Huangqi, Yuan Yawei. These online live events are all based on the different styles of the musicians. The venues and forms of performance are also different. For example, A-Lin chooses to perform on the terrace, and Liu Ruoying and start singing in a small theater. The rapid rise of
TME live is that, on the one hand, it has a lot to do with the star musicians invited by the platform. They have a large number of fans and a wide audience of songs. Like Mayday, the number of fans on Weibo as a whole exceeds 20 million. On the other hand, Tencent Music has also accumulated some experience in live music since 2017, such as livehouse live projects "Musician Live", "Big Music + Super Live" and so on.
36 Krypton observed that during live concerts of musicians, the TME platform has set up some relatively simple interactive functions for virtual gifts, and the form of gifts is mainly free. Of course, music fans can also use "LeCoins" to reward. QQ Music sets a minimum recharge threshold of 6 yuan (1 yuan = 10 LeCoins). The following is the number of viewers and the gift income of the musicians participating in the live broadcast of TME live based on 36Kr.
Note: The relevant data for Mayday is for the entire network, and the rest only statistics QQ music channel data, 36 krypton mapping (as of June 1, 2020)
Although we only count the QQ music channel, it can be seen that at present, Compared with the income from online concerts’ gifts, which are often millions and tens of millions of tickets from offline concerts, the overall scale of users’ live rewards is still very small. An insider of Tencent Music at revealed to 36Kr that, in general, the group is still striving for quality and word-of-mouth, and commercialization is mainly not based on this, and the platform has no tips to guide fans to rewards at this stage.
Regarding the commercialization of TME live, Tencent’s management mentioned at the performance meeting in the first quarter of this year that online ticket sales, virtual gift rewards, and the creation of a "fan space" for fans to communicate and interact during live broadcasts are all options. Path to monetization. Online paid live broadcast of
concerts is a feasible way to increase the number of paying users and music payment revenue of Tencent Music. Under the related Weibo where the TME live Mayday live broadcast ended, some netizens left a message saying "willing to spend money to watch." The peer NetEase Cloud Music has officially announced at the end of April that it will launch an online paid live broadcast model of music performances. 100% of the paid live broadcast income of 100 music performances will be given to musicians. There is more room for imagination in the commercialization of
TME live. In the long run, TMELive may drive users to pay to listen to songs, buy digital albums/singles, etc. on Tencent Music's platform through live music broadcasting. Or, the brand effect of TME live is gradually enlarged and more live broadcast traffic is gathered. In the future, it may also attract advertisers to advertise . The screenshot of
is from TME's official Weibo (as of June 1, 2020)
Tencent Music is actively seeking change
For Tencent Music, TME Live is just one of the many new businesses it has launched this year. In late April, Tencent Music launched the Kuwo Listening App, laying out audiobooks and other long-term audio markets, hoping to improve the user stickiness and use time of the platform. A few days later, Tencent Music announced that it had invested in the offline public broadcasting company Redio, and was interested in the copyright business of background music in public places.
In terms of traditional business, TME has also made more moves this year. For example, in the social entertainment sector, this year’s focus is the QQ Music Live (FanLive App) that will be launched in June. At the same time, Tencent Music also reached a cooperation with Tencent Games, and its platform introduced live game content.
Tencent Music is actively seeking change this year, and there is a certain degree of anxiety behind it.
has previously been a social entertainment business with a large revenue and a high profit margin for TME. In the past two years, revenue growth has shown signs of slowing. In the first quarter of this year, affected by the decline in the willingness to live broadcast under the epidemic, its revenue growth has dropped to a single digit number. The data of
comes from the financial report of Tencent Music, 36 krypton graphics (as of June 1, 2020) The data of
comes from the financial report of Tencent Music, 36 kryptons (as of June 1, 2020) The impact of special factors of the
epidemic is after all temporary, live broadcast Increasing competition in the industry as a whole is a longer-term impact factor. Currently, several high-traffic video platforms, including Douyin and Station B, are deploying music and other pan-entertainment live broadcasts. This means that if social entertainment is to get more revenue, Tencent Music needs to make new investments first. A live guild recruitment document obtained by
36氪 shows that QQ Music will launch the live live App in June. It mainly recruits three core anchors of appearance, talk show and skill learning (such as games), and the proportion of the guild and the anchor is divided into It is 40%-57%, but this ratio is not considered an advantage among many live broadcast platforms. The data of
is collected from various platforms. Compared with the social entertainment sector, Tencent Music's revenue growth is relying more and more on online music. In the first quarter of this year, online music revenue increased by 70% year-on-year, and its share of total revenue further increased to 32%. The increase in music user payment rate is the main reason. As of the first quarter of 2020, Tencent Music’s paid user conversion rate reached 6.5%. The data of
comes from the financial report of Tencent Music, 36Kr graphics (as of June 1, 2020) The increase in
payment rate is mainly because Tencent Music is gradually increasing the proportion of paid songs in the music library. The proportion of paid songs on the Tencent music platform as of the end of 2019 reached 10%, and the official said that this proportion will increase to 20% by the end of this year. In addition, Tencent Music is also speeding up the conversion of paying users by expanding the experience of members and non-members. Some time ago, QQ Music tested "interrupted voice ads" among non-green diamond members. However, if the above strategies are not implemented properly, there is a risk that the platform will rebound and even lose users. In addition to user experience, Tencent Music’s online music business also faces copyright competition. NetEase Cloud Music this year has successively won the copyrights of many record companies such as Rolling Stone, Warner Copyright, Japan Studio Ghibli, as well as the song copyrights of multiple head sound syntheses such as "The Year of Singer Dangda" and "Sound of Sound".
NetEase Cloud Music’s actions make Tencent Music unable to relax its control over the copyright of head music. After the formal acquisition of a 10% stake in Universal Music in March this year, Tencent Music has recently been rumored to spend US$200 million in a stake in Warner Music. However, compared to the previous buyout of copyrights of songs, taking a stake in a record company means that Tencent Music is going deep into the upper reaches of the industry chain to increase its voice in mining the commercial value of music.
On the whole, in the context of intensified market competition, Tencent Music is going deep into more links of the industry chain (such as performances, equity participation in record companies, etc.), and integrating musicians, live broadcasts and other resources on the platform to launch new businesses. Seek change. ThisWhether this new change will bring tangible income to it still needs time to verify.
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