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阿里领投网易云音乐对撼腾讯音乐

Tencent dominates music streaming in China. Now another tech Alibaba (BABA) is beginning an alliance that could help it knock the leader down a peg. Alibaba is picking up a minority stake in NetEase Cloud Music, a freemium streaming service, for $700 million.

Alibaba already owns its own music streaming app called Xiami. And the company partnered with NetEase in the past to share music libraries. But the latest deal, announced on Thursday, significantly strengthens the relationship between the two — and that could not be good news for Tencent Music.

Tencent Music had 652 million monthly active users and 31 million paying subscribers in the three months to June 30. The social networking giant has developed a stronghold in the market through its popular streaming platforms QQ Music, KuGou and Kuwo. NetEase said in its most recent earnings report that its cloud music platform has more than 800 million "users", though its monthly active user count at 139 million as of July. NetEase ranks fourth among active users after Tencent's three services. Recent statistics for Xiami's monthly active userbase weren't available. But at the end of 2017, the service had 18.4 million active users, according to the market research firm QuestMobile.

Yu Xue, an Internet research analyst at IDC China, said Alibaba could help its new partner's growth by sharing content and promoting the service through its other apps. "Alibaba needs an alliance to compete with Tencent in the streaming music market," Yu said.

The investment was made known alongside another deal between Alibaba and NetEase. Alibaba is buying Kaola, NetEase's e-commerce platform, for $2 billion, to boost its online shopping business.

阿里领投网易云音乐 对撼腾讯音乐

阿里领投网易云音乐对撼腾讯音乐