Fancy the fast-growing and low penetration online audio market.
I learned that on the evening of April 23, Tencent Music Entertainment Group (TME.US) held a long audio strategy conference, at which the long audio APP “Cool Me Listen” was officially launched.
According to Xiao Yi, vice president of Ku Wo Music, the “Ku Wo Chang Ting” App invites some stars, voice actors, and radio drama anchors to participate in the production of audio content. It currently covers audio novels, storytelling comics, story songs, emotional variety shows, etc.19 Audio content for each category.
Yuewen Group is the partner of “Cool Me Listen” audio content. Kuwo said that many of the super IP radio drama development projects under the reading article have been launched, including “Tomb Notes”, “Secret Lord”, “Chaser of the White Night”, “Swordsman in the Snow” and “Soul Street”, some of which are The first exclusive development of radio dramas.
The online audio that Kuwo Music is looking for this time is a fast-growing market with low penetration. IResearch previously estimated that from 2018 to 2023, the average annual compound growth rate of the number of online audio users in China will be 19%. According to QuestMobile ’s statistics, the total number of monthly active users of China ’s online audio app in June 2019 was 110 million, accounting for approximately the monthly active users of mobile internet in the country 9.7% of the total, and the penetration rate is significantly lower than the online music APP and online K song APP.
Picture Guangfa Securities
For the “Content Provider” reading, cooperation with Kuwo Music also provides a way to monetize the content IP on their own platforms. The person in charge related to reading said at the meeting that the content IP of the reading was mostly adapted into games, movies, TV and other forms. This time, in cooperation with Kuwo, the “sound” business was added, which is equivalent to complementing the company IP Pan-entertainment layout.
The launch of Tencent Music ’s long audio platform may become a new variable affecting the pattern of the online audio industry. As of December 31, 2019, the total monthly active users of Tencent Music had exceeded 800 million. Large amount of user traffic, plus reading (the same is Tencent)The exclusive license of the super IP voice adaptation, the addition of Tencent Music in the field of long audio, will increase the competitive pressure of existing online audio platforms such as Himalayan, Dragonfly FM, and lazy listening books.