See through the new financial report of Tencent music, online music needs b+c

The picture comes from Canva Paintable

After many acquisitions and closures , Domestic online music industry , Finally, the two strong separatist regimes of Tencent music and Netease cloud music have been formed . However, whether in music copyright content 、 Number of users 、 Revenue volume and other aspects , There is a huge gap between the first and the second .

 ​

For example, from the user level , according to Fastdata data , By 2020 year 10 May... Under Tencent music QQ music MAU by 2.01 Billion 、 Cool dog music is 1.87 Billion , Netease cloud music is 8895 ten thousand . This naturally shows the strength of Tencent music in the domestic market , Its recently released financial report is another proof .

Commendable new financial results

Although Tencent music （TME） Delivered up 2020 There are certain defects in the financial report of the fourth quarter of and the annual performance , But look at the industry , This report card is already good .

According to the financial report , The total revenue of Tencent music in the fourth quarter was 83.4 One hundred million yuan , With the same period last year 72.9 Billion yuan, with a year-on-year increase of 14.3%,2020 The total revenue of the whole year is 291.5 One hundred million yuan , An increase of 14.6%. In addition, Tencent music achieved net profit in the fourth quarter 12.0 One hundred million yuan , The highest ever in a single quarter , And realize the net profit for the whole year 41.6 One hundred million yuan , An increase of 4.3%.

Specifically, the reason why Tencent music can achieve both revenue and net profit growth , Because the income structure is improving .

On the one hand, the revenue growth of music subscription services . Because Tencent music has an absolute advantage in copyright content , In addition, users' willingness to pay has been greatly improved , The number of paying users of Tencent music increased in the fourth quarter 40.4%, Revenue from music subscription services also increased from the same period last year 11.1 increased 41.9% achieve 15.8 One hundred million yuan .

The increase of paying users indicates that the user stickiness of Tencent music has been further improved , This has also driven the growth of other user derived businesses , For example, the advertising service revenue of Tencent music realized in the fourth quarter 100% Year-on-year growth .

On the other hand, the revenue of social entertainment services grew steadily . Including the whole people K Social entertainment services including songs , It is a demonstration of Tencent music's own hematopoietic ability , It is also the reason why it won the copyright battle .

According to the financial report , In the fourth quarter, the revenue of Tencent music from social entertainment services and other businesses was 55.8 One hundred million yuan , An increase of 8.2%, This is mainly because the whole people K Song drives the growth of corresponding revenue , And social entertainment services in the fourth quarter ARPPU（ Average revenue per paid user ） It has also increased. 26.3%.

in addition , In the fourth quarter of Tencent music MAU by 6.22 Billion , Compared with the same period last year 6.44 Billion appeared 3.4% The fall of . However, the number of monthly living has decreased and the number of paying users has increased , It shows that the demographic dividend of the Internet has been gradually fading , The stock market has become the top priority of the platform .

C The dispute over the stock of the end

But for online music platforms , How to activate stock users , Let it release more value and contribute to the overall performance of the platform , The platform needs to find out the real needs of stock users . But for C End user , In especial C For the end stock users , What exactly do they really need ？

In a nutshell , It can be understood as a one-stop solution to all needs .

The first is more and more comprehensive content resources . As the state pays more attention to copyright , And the growing copyright war , The final standard for consumers to choose an online music platform is still the copyright content .

Regardless of the traditional music content , Or emerging long audio content , Even because of the outbreak of the cloud Live Copyright , Have become the most basic needs that affect the user experience . Tencent music and Warner 、 SONY 、 Cooperation with modern sky and other record companies , And the acquisition of lazy people listening to books to enrich long audio content , To ensure their own advantages in content copyright , Further stabilize the stock of users through content .

The second is the diversified derivative demand . For users , Online music platform is not only a platform to meet the needs of listening to songs , They put forward more diversified requirements for the platform , Like social networking. 、 game 、 Shopping, etc , Some users even have learning needs .

For example, the success of Netease cloud music , It relies on its unique social comment function . For Tencent music , Whether it's a full name that meets social needs and redevelops copyright values K song , Or live 、TME live And other business development , To provide users with multiple choices , And meet the more diversified needs of users , Further stimulate the stock market .

The advantages of Tencent music in these aspects , It has a good help to revitalize its stock users . However, the online music market for C When the competition for the end becomes more and more fierce , Tencent music also focuses on B End of the music market , Trying to find a blue ocean in it .

B It has become a new blue ocean

all the time , Online music is considered to be focused on personal business , indeed , The ultimate goal of listening to music is to be personal , But there are many channels in the middle , For example, shopping malls 、 Playground 、 Own car, etc .

And along with online music, the whole industry pays more and more attention to copyright ,B End users want to obtain genuine music resources , It is inevitable to cooperate with online music companies that have exclusive resources , This ensures the online music industry to a certain extent B The growth space of the end market .

Let's take a look at Tencent music in B The action of the end . In the last year 4 month , Tencent music invests in the offline public broadcasting company radio in the form of equity , Power online music public broadcasting market , in addition TME Cooperation between kugou music and dangbei music , I love listening to the action of Zhuo Le carrying a smart car , Tencent music is all about B Step forward .

And in the B Deepening of the end , For online music platforms such as Tencent music, it will also bring many benefits , It also promotes the development of the online music industry to the next stage .

firstly , Stabilize the whole industry chain of online music . Pure music service It can't support the whole online music industry , Opening up the whole industry chain around music is the focus of platform development , This includes content source production 、 Copyright redevelopment 、 Additional value creation and other links , The overall improvement of these links can ensure the development vitality of the platform .

second , More detailed full scene penetration . With the refinement of consumer demand , It puts forward higher requirements for the fine scene penetration of the online music platform , For example, vehicle scene 、 Home scene, etc . Through the penetration of these scenes , It can further upgrade the content ecology of the online music platform , So as to ensure the continuous improvement of performance .

third , Promote online music to IOT Stage . With the smart speaker 、 The popularity of smart TV and other intelligent entrance products in the whole house ,IOT It is no longer just a concept . And by right of IOT Layout , The online music platform can create its own ecological cycle through a more complete ecological closed loop and scene mode , Lay a good foundation for future development .

Under the high light , simmering

Whether in C The end inventory is still B The end seizes the blue ocean , Tencent music's performance is good , But under the appearance of good overall performance and growth , Tencent music still needs to face many problems .

The first is because the autotransfusion model has been tested . All the people K Social functions such as songs have helped Tencent music complete the second release of the value of content copyright , And continue to transfuse Tencent music , But in the fourth quarter TME Of social entertainment paying users have emerged 14.3% Decline , This has a lot to do with similar functions launched on other platforms .

The second reason is that the downstream of the industry goes back to the upstream . Tiktok 、 Short video platform like Kwai Fu , Because short video content has a huge demand for music , Therefore, these downstream platforms of the music industry are ready to establish their own resource libraries , Now Tiktok and Kwai have launched relevant policies to support musicians' creation , Start from the content source , Ensure platform development .

The third reason is that at this stage B There are still a lot of chaos in the end market . For example, in the current public broadcasting field , Many small businesses still use pirated music resources , It is difficult for the whole market to continue to develop in an orderly way . This is mainly because of the online music B The end market is still in the growth stage , Many problems in the industry still need to be solved .

Although the problems at these levels , For Tencent music, which has absolute copyright advantages , It's not a matter of life or death , But no matter at which level a new force emerges , For the future development of Tencent music , Will bring no small obstacles , And this also makes Tencent music itself have to pay more attention to these aspects .

writing / Liu Kuang's official account ,ID：liukuang110