Music Matters first day wraps up with some of the biggest names from the Chinese music industry discussing topics that are affecting regionally and at a global scale. The subject of streaming and China popped up at every opportuned-discussion pulling and tugging at each other like an engaged couple; a rather new, anticipated and predictably accurate union which got people talking almost over two decades ago.
The conference began with a keynote speech from one of the world’s most respected and successful music industry executives – Denis Handlin, Chairman & Chief Executive Officer for Australia and New Zealand, President Asia for Sony Music Entertainment. Some of the most conclusive points he made about the music industry came from over 40-years experience and concluded with some of the most inspiring quotes to keep pursuing good music and the survival of the fittest. He added that although the format from cassette to digital have evolved over time, it’s still “all about great songs, great artists, hits and stars and great staff” that has kept the industry alive.
He continues to see and hear inspiring work being created and stressed to labels that preferences are constantly changing and that there’s a need to be ever more ‘relevant and compelling’ when it comes to searching, signing and experiencing new artists. “Companies will invest as the accessibility to music has never been greater – music can be consumed whenever and wherever they like”, said Handlin.
Other highlights of the day include the series of talks on CHINA, under the QQ Music China Forum, took over the Sands Theatre of MasterCard Theatres at Marina Bay Sands, Singapore. China’s music industry has gradually and confidently made its appearance ever since the announcement of the minister of culture that it will be banning and shutting down online platforms or entities that were offering unlicensed, in another word, pirated music in China. This announcement kicked off a series of authentic licensing deals signed between digital aggregators, DSPs and the giant labels before seeing a growth of paying customers flooding the market (info from Tencent session).
The afternoon sessions include key speakers Andy Ng – GM of QQ Music at Tencent; Charles Caldas – Chief Executive Officer of Merlin; Simon Moor from Kobalt Music Group and Alexander Shulgin – Founder of Gruppa Kompaniy Familia. The delegates shared some of the latest streaming numbers we’ve all been waiting to hear (from the horses’ mouth). Andy Ng from Tencent revealed that QQ Music has over 10 million paying subscribers with over 700 million users from China alone. While subscription fees remain all time low in comparison to other streaming services like Spotify, its revenue model profits from the sheer volume and not by price.