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Tencent QQ to pick up cyber profit beat
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Tencent, China's biggest instant message service provider, aims to expand its business scope in the online music sector with more offerings, the company said Thursday.

The company's QQ Music has already attracted 100 million users, and its peak concurrent user base has reached 2.5 million, the Shenzhen-based firm reported.

QQ Music's advantage includes its huge user base, specially designed music player tool and other functions, according to Tencent, which has also expanded its business into online game and an auction Website.

China's online music industry revenue is expected to reach 200 million yuan (US$29.4 million) this year, and the figure should hit 450 million yuan in 2009, according to research firm ChinaNZX.com.

Tencent has brands like Li Ning and LG in advertising on its music Webpages and is pursuing other firms.

(Shanghai Daily December 26, 2008)

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