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Tencent Music Entertainment Group Releases Golden Melody Research Report to Explore the Long-term Value and Potential of the Music Industry

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Hongkong, November 15, 2022 /PRNewswire/ — Tencent Music Entertainment Group (“TME” or the “Company”) (NYSE: TME HKEx: 1698), a leading online music and audio entertainment platform China, released a golden song research report today. Developed by TME Research Institute, it is the first report in the music industry to comprehensively describe the standard and creation mode of golden songs.

The report examines the golden songs of the past five years in six chapters. These chapters include definitions of hits, playlists, trends, values, creations and consensus on this particular musical hit. Based on data analysis and professional interviews, the report captures the music trends behind the change of golden songs, analyzes industry experience and challenges, and provides in-depth and valuable observations for promoting the sustainable development of the industry.

The ever-changing music industry has challenged creating hits based on successful singles of the past. In addition, the industry lacks a basic consensus on the definition of golden songs. As the media and the general public begin to re-evaluate trend music and pursue more high-quality music works, TME released a report at a critical moment to reopen these important dialogues, aiming to seek answers with industry partners.

Regarding the definition of a golden song, the report concluded that a golden song is a song that is both high-quality and enduring. This is the result of in-depth discussions between TME Research Institute and various music professionals. Using this as a standard, TME Research Institute determined a playlist of 118 golden songs in the report based on previous single performance data and expert evaluation.

Moreover, the Golden Melody research report provides insights into the development and value of Golden Melody. The report shows that golden songs no longer come only from mainstream musicians, but from other segments such as independent music and IP music.

The report also mentioned that golden songs are still valuable commercial properties and strengthen social value. In the long run, golden songs can continue to bring income to artists, and can also provide artists with more opportunities. In addition, golden songs represent the embodiment of major trends in the music industry, guiding the direction of content creation and social expression. In this way, promoting the creation of golden songs not only promotes the development of the music industry, but also represents how the music industry responds to the world socially and culturally.

In terms of the creation mode of golden songs, TME Research Institute gave a solution in the report. First of all, with the development of the golden song model, the creation of mainstream music, independent music, IP music and other subdivided fields has become more and more distinct, and each type of music requires a different way of creating golden songs. However, all musicians face obstacles when creating hit songs, including higher overall costs. Secondly, the creation of golden songs requires a long-term industry value consensus and multi-dimensional infrastructure construction, including a professional creation system and a healthy platform mechanism, as well as raising the public’s awareness of high-quality music appreciation.

Through the research on golden songs, TME has insight into the development of the music industry, aiming to help artists and music professionals in music creation, promotion and dissemination of high-quality music content. TME will continue to contribute to the long-term growth and prosperity of the music industry through the execution of its dual-engine content and platform strategy through artist support, industry analysis and other important practices.

About Tencent Music Entertainment

Tencent Music Entertainment Group (NYSE: TME HKEX: 1698) is a leading online music and audio entertainment platform in China, operating China’s popular and innovative music apps: QQ Music, Kugou Music, Kuwo Music and Quanmin Singing. TME’s mission is to use technology to enhance the role of music in people’s lives, enabling people to create, enjoy, share and interact with music. TME’s platforms include online music, online audio, online karaoke, music-centric live streaming and online concert services, enabling music lovers to discover, listen, sing, watch, perform and socialize around music. For more information, visit ir.tencentmusic.com.

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resource Tencent music entertainment group

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