Local media outlet Jiemian News reported on Wednesday that before the Spring Festival this year, QQ Music held an internal annual meeting. Liang Zhu, CEO of Tencent Music Group, said at the meeting that staff departure was the requirement of organizational adjustment. This year, the rotation system of executives will continue to be implemented.
In Tencent Music’s managerial adjustment of last year, Tencent transferred Liang Zhu, Vice President of the group, from the Platform and Content Division to Tencent Music as CEO, and former CEO Cussion Pang was transferred to serve as the chairman of the group. In Tencent Music, Pang is responsible for content copyright business, and Liang is responsible for product and platform construction.
Since the end of last year, many internal business lines of Tencent have fired employees, which has caused much public speculation. In Liang’s view, Tencent Music is essentially a company focusing on quality content.
In his speech, Liang also praised several products showing the many highlights of last year. The recently launched Lite version of QQ Music garnered more than 2 million daily active users, while the users of the iOS version of QQ Music increased by 5 million last year.
In the development of Tencent Music in the past few years, although the brand influence of WeSing was not as good as QQ Music, it was still an important commercial product of the company.
Liang said at the annual meeting that WeSing has made a lot of money for the group before, which has enabled Tencent Music to go through tough times. However, a director of Tencent Music revealed that the revenue of WeSing has declined last year, and the innovation direction of the product is not clear at present.