The Latest Insights from International Online Marketing
The Chinese internet giant Baidu has announced the merger of its Baidu Music service with the music label Taihe Entertainment Group.
The merger means that all of Taihe’s estimated 700,000 music tracks will now be available on Baidu Music, giving the latter a huge boost and an edge over its competitors.
The Chinese online music market is currently worth almost 14 billion yuan, equivalent to 2.1 billion US dollars.
The music market in the country is hotting up at the moment, with Baidu’s rivals Alibaba and Tencent both pushing their own online music services.
Baidu Music currently has 150 million monthly active users.