The pop star’s latest album “Midnights” sets a new record on Tencent’s QQ music. QQ music is one of the largest music streaming platforms in China. The album came out over the weekend and it is available on all streaming platforms.
Taylor’s 13-track album was sold at 35 yuan, $4.83, one of the highest QQ Music. The album sold nearly 200000 copies on the service. The selling price seems low considering Taylor Swift sold it on her platform at $11.99. The number of units sold is astonishing considering it being sold at such a high price on the platform which shows the willingness of consumers ready to pay set prices. To take the price as a standard for the platform is a bit unrealistic since Swift has cultivated a huge fanbase in China. The pop star has 10 million followers on Weibo, China’s Twitter alternative.
QQ Music has made a huge effort to curb music pirating which is very common offline and online. They offer its subscribers various perks to be a member of its service. This includes access to other forms of entertainment like manga, video streaming services, and Tencent-affiliated services like JD.com’s online mall. Users also get access to hi-fi streaming services, access to online concerts, and customized layouts.
QQ Music has had its share of stable growth among its paying users. Though the price points remain modest, Tencent Media Entertainment recorded a growth of 82.7 million subscribers across its three music streaming services, up 25%. This amounts to only 14% of them paying out of a total of 593 million people. This is still lower than its competitor Spotify which has 43% of its subscribers on the premium plans