Andy Ng, VP of China’s leading streaming platform TENCENT Music Entertainment is set to deliver its strategy talk at Midem 2017.
Unforgivingly over the last couple of years, China has taken a leading role in the share of the music industry worldwide. Undoubtedly, many are wondering about China’s next move and is uncomfortably placing key players of the industry on tip toes.
Andy Ng, Vice President of Tencent Music Entertainment Group, will deliver a keynote at one of the longest running music industry conference, Midem, come June 2017. The trade event set to take place in Cannes, France, from 6-9 June 2017, will see Ng outline strategy at China’s leading streaming platform and explain how to unlock potential of the country’s 650-million-strong online user base.
The keynote at Midem coincides with Tencent’s plans to expand into the rest of Asia, one being the recent announcement to extend its reach to other parts of SE Asia territories and is exploring a launch in India. Ng’s perspective will give insights into the music streaming market in China and the monetisation strategy, which will cover topics on China’s music legislation, the developing trends and how to partner with digital music platforms.
A brand that continues to be the only profitable one in the territory, Tencent has single-handedly built QQ Music into China’s largest music streaming platform that now serves some 10 million paying users taking up 55% of the total market in China. QQ Music is taking a leading role in the rapid change in the music scene through its efforts in tackling rampant piracy in partnership with music labels.
It has attracted many users due to its unique incentive-based pricing strategy and continues to attract over 400 million active users a month. These users communicate, share experiences, consume information and seek entertainment through its intergrated platforms.
Tencent’s services include QQ, Weixin/WeChat for communications; Qzone for social networking; QQ Game Platform for online games; QQ.com and Tencent News for information; and Tencent Video for video content.
Tencent was founded in Shenzhen in 1998 and went public on the Hong Kong Stock Exchange in 2004, and is one of the constituent stocks of the Hang Seng Index.
How does he deserve a spot as a keynote at Midem? Andy Ng is responsible for all licensing and business related matters of the Tencent Group comprising of three mainstream music services at Tencent that includes: QQ Music, Kugou Music and Kuwo Music. Additionally, he also manages marketing and PR activities; and as Vice President, he has built strong relationship with music labels, publishers and artists and developed business models in various markets.
“ I’m very honoured to attend Midem this year on behalf of the Chinese digital music industry. The Chinese domestic music market has made a great breakthrough in copyright protection and created many new business opportunities in recent years. I’m expecting more communication and cooperation with different music labels, publishers and artists across the world,” said Ng.