“Music is very universal,” said Poshu Yeung, vice president of Tencent’s international business. “Your phone is an entertainment hub, and entertainment includes only three things: movies, games and music.”
Despite that oddly limited view, Tencent’s efforts in those three areas have been financially lucrative. In terms of music, it acquired China Music Corp. in July. It operates both Joox and QQ Music, both of which have large followings in the Asian markets. QQ Music even reportedly posted a profit this summer, a big milestone for any streaming music operation.