What is the latest development trend of China's music industry?

The 20 17 China Music Industry Development Report shows that the total scale of China's music industry in 20 16 was about 325.322 billion yuan, with a year-on-year growth rate of 7.79%, which was higher than the GDP growth rate 1.09% in the same period.

According to Foresight Industry Research Institute's Market Foresight and Investment Planning Analysis Report of China Mobile Music Industry, the market scale of mobile music platform reached 8.68 billion yuan last year, maintaining a growth rate of more than 50%, among which paid listening and downloading became an important driving factor for its rapid growth. Compared with the payment rate of foreign platforms of 30-50%, the payment rate of China music industry platform is less than 5%.

The industry believes that the payment model has a very large space and is expected to become the mainstream of music realization in the future. The development of online mobile music platform is no longer a single playing tool, but an Internet platform integrating socialization, originality and attracting fans.

Nowadays, the business models of major music platforms are more and more diversified. In addition to the traditional advertising revenue, music payment and member value-added services, new business models such as digital albums, peripheral products and performance O2O are also emerging.