中信建投 | 音乐行业:寡头竞争下的新机遇

中信建投证券研究
Sep 28

文|崔世峰全球在线音乐行业已进入寡头格局,竞争重心从版权获取转向生态与用户价值提升。中国市场新增用户空间有限,呈现稳定的“寡头”格局,竞争格局较海外更好,腾讯音乐、网易云音乐及汽水音乐的总用户规模大约为7:3:1,付费用户则约为20:7:1。音乐行业参考长视频行业进入付费率和ARPPU 双轮驱动的稳健增长阶段。腾讯音乐稳居龙头,收购喜马拉雅后,完成从“音乐平台”向“全场景音频生态平台”转型,构建...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10