Tencent Music invests in another music-streaming service: Douban FM
Tencent is already owner of three of the main music-streaming services in China. But the company has just invested in a fourth: Douban FM.
According to "TechNote", the deal is a strategic investment that will see Tencent providing support in the form of "product design and copyright authorisation" rather than cash. The report also notes that Douban FM was one of the first music-streaming services in China (it was launched in 2009), but that its popularity has declined considerably:
Its monthly active users halved to 4 million over the past eight years, compared to that of Tencent’s QQ Music (290 million).