Mostly unseen in the United States, music streaming company Tencent Music Entertainment continued to prove it’s a formidable force by improving revenues 34% to $3.65 billion (25.43 billion Renminbi) in 2019. Net income jumped 126.7% to $664 million.
26.02.2020 - 03:56 / variety.com
A study just released by the RIAA shows bad and worse news for sectors of the recorded music business like physical media sales and digital downloads … but better and better news for streaming. And that’s the only news that matters when it comes to revenue for the music industry in the United States. Streaming grew 13% in 2019, from $9.8 billion to $11.1 billion in retail value, accounting for 79% of the overall pie.
An even more encouraging figure, perhaps, was the 25% year-over-year growth in
Mostly unseen in the United States, music streaming company Tencent Music Entertainment continued to prove it’s a formidable force by improving revenues 34% to $3.65 billion (25.43 billion Renminbi) in 2019. Net income jumped 126.7% to $664 million.
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