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 .
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 operates 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.