Tencent Music Entertainment Group Releases Golden Melodies Research Report that Explores the Music Industry's Long-Term Value and Potential

HONG KONG, Nov. 15, 2022 /PRNewswire/ -- Tencent Music Entertainment Group ("TME," or the "Company") (NYSE: TME and HKEX: 1698), the leading online music and audio entertainment platform in China, published a Golden Melodies Research Report today. Developed by TME Research Institute, it is the first report in the music industry to comprehensively describe the criteria and creation patterns of golden melodies.

The report conducted research on golden melodies from the past five years through six chapters. The chapters included definitions of golden melodies, playlists, trends, values, creation and consensus of this particular musical hits. Based on data analysis and professional interviews, the report captures the musical trends behind the changes in golden melodies and analyzes industrial experiences and challenges, which provide in-depth and valuable observations to promote the sustainable development of the industry.

The ever-changing music industry has posed challenges in creating golden melodies by referring to past successful singles. In addition, the industry lacks a basic consensus in defining a golden melody. As the media and the public have started to reevaluate trendy music and pursue more high-quality musical works, TME reinitiated these important conversations by releasing the report at a critical time that aims to seek answers with its industry partners.

On the definition of golden melodies, the report draws the conclusion that a golden melody is a song of both high quality and long-lasting popularity. This comes after TME Research Institute's in-depth discussions with a number of music professionals. With this standard, and based on the previous performance data of singles and expert evaluation, TME Research Institute identified a playlist of 118 golden melodies in the report.

In addition, the Golden Melodies Research Report provides insights into the development and value of golden melodies. The report shows that golden melodies do not just derive from mainstream musical artists anymore, but they are also coming from other segments, such as indie and IP music.

The report also mentions that golden melodies remain valued commercial properties and strengthen social values. In the long term, golden melodies can consistently generate income for artists, as well as provide more opportunities to them. Moreover, golden melodies represent the embodiment of the main trends in the music industry, guiding the direction of content creation and social expression. In this way, promoting golden melody creation is more than just advancing the music industry, it also represents how the music industry responds to the world socially and culturally.

In terms of the creation pattern of golden melodies, TME Research Institute provides solutions in the report. First, as the golden melody pattern is being developed, the creation has been increasingly distinct among different segmentations of mainstream music, indie music and IP music, and it requires different approaches to create golden melodies of each kind of music. Yet all musicians are facing obstacles in creating hit titles, including higher costs in general. Second, creating golden melodies requires the industry's consensus on long-term value and multi-dimensional fundamental construction, including the professional creation system and healthy platform mechanism, as well as raising public awareness on high-quality music appreciation.

TME leverages the research on golden melodies to deliver insights into the music industry's development, aiming to help artists and music professionals in music creation, promotion and distribution of high-quality music content. TME will continue to contribute to the long-term growth and prosperity of the music industry by executing its dual engine content-and-platform strategy through musician support, industry analysis and other important practices.

About Tencent Music Entertainment

Tencent Music Entertainment Group (NYSE: TME and HKEX: 1698) is the leading online music and audio entertainment platform in China, operating the country's highly popular and innovative music apps: QQ Music, Kugou Music, Kuwo Music and WeSing. TME's mission is to use technology to elevate the role of music in people's lives by enabling them to create, enjoy, share and interact with music. TME's platform comprises online music, online audio, online karaoke, music-centric live streaming and online concert services, enabling music fans to discover, listen, sing, watch, perform and socialize around music. For more information, please visit ir.tencentmusic.com.

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SOURCE Tencent Music Entertainment Group