Chinese Music Streaming Expansion
Chinese Music Streaming Expansion refers to the rapid growth and international development of China's digital music market. China became the world's fifth-largest recorded music market in 2023, generating $1.45 billion with 25.9% year-over-year growth¹. The market is dominated by local platforms like Tencent Music (QQ Music, Kugou, Kuwo) and NetEase Cloud Music, rather than Western services like Spotify². The streaming market is projected to reach $8.39 billion by 2030 with a 13.6% CAGR³. This expansion includes both domestic market growth and increasing international partnerships, with Chinese platforms securing deals with global labels and K-pop companies⁴.
Sources
Updated:
Jun 5, 2025
Chinese Music Streaming Expansion
Chinese Music Streaming Expansion refers to the rapid growth and international development of China's digital music market. China became the world's fifth-largest recorded music market in 2023, generating $1.45 billion with 25.9% year-over-year growth¹. The market is dominated by local platforms like Tencent Music (QQ Music, Kugou, Kuwo) and NetEase Cloud Music, rather than Western services like Spotify². The streaming market is projected to reach $8.39 billion by 2030 with a 13.6% CAGR³. This expansion includes both domestic market growth and increasing international partnerships, with Chinese platforms securing deals with global labels and K-pop companies⁴.
Sources
Updated:
Jun 5, 2025
Chinese Music Streaming Expansion
Chinese Music Streaming Expansion refers to the rapid growth and international development of China's digital music market. China became the world's fifth-largest recorded music market in 2023, generating $1.45 billion with 25.9% year-over-year growth¹. The market is dominated by local platforms like Tencent Music (QQ Music, Kugou, Kuwo) and NetEase Cloud Music, rather than Western services like Spotify². The streaming market is projected to reach $8.39 billion by 2030 with a 13.6% CAGR³. This expansion includes both domestic market growth and increasing international partnerships, with Chinese platforms securing deals with global labels and K-pop companies⁴.
Sources
Updated:
Jun 5, 2025
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