Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 7th International Conference on Economic Management and Green Development
Series Vol. 32 , 10 November 2023
Open
Access | Article
Can Tencent Music Entertainment Group's Acquisition of Lazy Audio Help It Establishes a Foothold in the Long-form Audio Market
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Abstract
Lazy Audio is a very successful platform in the long-form audio field which was established in 2012 and had become a leading audio book platform after many years of development. On January 15, 2021, Tencent Music Entertainment Group acquired Lazy Audio for 2.1 billion yuan. After researching the strategic goals and significance of Tencent Music Entertainment Group, the article believes that the acquisition is to gain a foothold in the long-form audio market and to supplement its own "business ecosystem" in the sound industry. The article also analyzes the strengths, weaknesses, opportunities and threats (SWOT) of the acquisition and believes that it is a successful one. After the completion of the acquisition, Tencent Music Entertainment Group needs to pay attention to the future development direction of the platform. Lazy Audio is a vertical audio book platform that has some shortcomings compared to comprehensive audio book platforms. So, in the future, it can try to transform. And Tencent Music Entertainment Group also needs to pay attention to copyright related issues, and related regulations and policies.
Keywords
Tencent Music Entertainment Group, Lazy Audio, business ecosystem, long-form audio
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 7th International Conference on Economic Management and Green Development
- ISBN (Print)
- 978-1-83558-085-1
- ISBN (Online)
- 978-1-83558-086-8
- Published Date
- 10 November 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/32/20231580
- Copyright
- 10 November 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited