Independent artists distributed by companies like TuneCore and others are eating into the market share of major music companies – and now they have a vital passport to do so in China.
TuneCore has entered into a partnership with China-based Tencent Music Entertainment Group (TME) that will make TuneCore artists’ recordings available to TME’s massive listener base in China.
TuneCore says that it now distributes over 250,000 artists.
TuneCore, which was acquired by Believe Digital in 2015, announced in May that its artists earned $83 million in the first quarter of 2019 – a 21% increase on Q1 2018 and the equivalent of nearly $1m per day (across the 90 days in Q1).
TuneCore’s partnership with TME and the opportunities it will open up for independent artists in the market is yet further proof of the growing significance of the global independent artist sector.
UK-based Midia Research estimated that revenue generated by DIY artists topped $643m worldwide in 2018, up 35% on the previous year – and as reported in Rolling Stone in May, “self-releasing” artists are on course to earn more than $1 billion in 2019.
MBW also reported a couple of weeks ago that the market share of independently-distributed artists on Spotify’s Top 50 daily chart in Sweden hit an all-time high last month, rising to 44% (i.e. 22 tracks out of 50) on September 5.
TuneCore offers distribution, publishing administration and a range of promotional services. The platform pays artists 100% of what they earn from digital streams and downloads.
Artists distribute their music to over 150 digital platforms worldwide including iTunes, Apple Music, Spotify, Amazon, Deezer, Google Play, and now, Tencent Music.
“We create partnerships, tools and services that bring the greatest possible value to musicians, and this alliance with Tencent Music is a tremendous opportunity in a fast-growing and sought-after market.”
Scott Ackerman, TuneCore
When TuneCore delivers artists’ music to Tencent Music, releases will be available on QQ Music, Kugou Music and Kuwo Music.
QQ Music focuses on popular artists and top mainstream hits for younger music fans in China, and Kugou Music is a music service with a mass-market focus and deep user penetration in China.
Kuwo Music focuses on selected genres and segments, such as DJ mixes and children’s songs.
“TuneCore is the go-to platform for independent artists to expand their audiences and scale their income worldwide,” said Scott Ackerman, CEO, TuneCore.
“We create partnerships, tools and services that bring the greatest possible value to musicians, and this alliance with Tencent Music is a tremendous opportunity in a fast-growing and sought-after market.”
In addition to TuneCore’s partnership with Tencent, this week has seen rival service CD Baby announce a deal with TME to deliver its catalog of streaming-eligible tracks to three music TME services, QQ Music, KuGou Kuwo.
