Lockdowns and travel retrictions prompted by the new coronavirus have been a boon to JOOX, Chinese tech giant Tencent's international music streaming platform, driving traffic to its karaoke services up by as much as 50%, an executive said.
HONG KONG - Lockdowns and travel retrictions prompted by the new coronavirus have been a boon to JOOX, Chinese tech giant Tencent’s international music streaming platform, driving traffic to its karaoke services up by as much as 50%, an executive said.
JOOX, which operates in Southeast Asia, Hong Kong and South Africa, is already vying for the top spot in music streaming services with Alphabet Inc’s Youtube Music and Spotify in Indonesia, Malaysia and Thailand. Tencent Music reported forecast-beating revenues in the fourth quarter, partly thanks to such paid services.
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