Tencent has acquired China Music Corporation in a $ 2.7bn takeover , making Tencent China 's largest online music player , with 50 % of the user base and 60 % of available music rights . China Music surpassed Kugou and Kuwu , the country 's top and third - placed music platforms , while Tencent 's QQ Music held second place . China’s social media and games giant Tencent is poised to become the country’s top online music player following confirmation of its takeover of China Music Corporation. The deal will see China 's music marketplace move to a paid - for service .
Tencent has acquired China Music Corporation in a $ 2.7bn takeover , making Tencent China 's largest online music player , with 50 % of the user base and 60 % of available music rights . China Music surpassed Kugou and Kuwu , the country 's top and third - placed music platforms , while Tencent 's QQ Music held second place . The deal will see China 's music marketplace move to a paid - for service .