last November. Launched by Tencent in 2015, JOOX operates in Southeast Asia, Hong Kong and South Africa. It is part of Tencent's push to expand its global reach and challenge Western rivals such as Spotify and YouTube Music in territories including Malaysia, Indonesia and Thailand. The JOOX service includes a social karaoke feature, similar to Tencent’s China-based app WeSing.
Under the new agreement, Merlin content will be licensed to JOOX’s ad-supported and premium tiers as well as its karaoke platform. The deal also effectively gives Merlin members access to marketing and promotional activities on JOOX.revealed the service was looking to expand to additional territories on the African continent as part of a strategy to introduce the streaming platform into relatively untapped markets, as opposed to trying to compete with entrenched competitors in the U.S.
Hastened by COVID-19, online karaoke platforms like JOOX and WeSing have swiftly become one of the most profitable segments for Tencent Music thanks to the use of in-app virtual gifting features. Last year, karaoke and livestreamingfor the company, with only 28.1% coming from traditional music streaming. Tencent's inroads into new markets seems to be paying off, as the company finished out 2020 with a market capitalization just 1.5% lower than Spotify's despite having only 51.
Last year, Merlin welcomed 81 new members from countries including Burkina Faso, Ghana, Peru, Singapore, Slovakia and the United Arab Emirates. Its members account for over 15% of the global digital music market, representing tens of thousands of labels.
...keep pumpin’ the gas ; ain’t no need for no brakes🎶💨 (zayata)
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