Tencent Music's stock rose more than 3% Institutions: The industry is expected to achieve double growth in both traffic and payment through copyright expansion.

On Monday, Tencent Music rose over 3% to $21.31. Oriental Securities recently released a research report pointing out that the music industry is expected to achieve double growth in traffic and payments through copyright expansion. The report believes that Tencent Music and NetEase Cloud Music can stabilize and improve traffic and payment rates through copyright supplementation and user operations. Tencent Music is expected to introduce Kpop and long audio users through the acquisition of South Korea's SM and the planned acquisition of Himalaya; NetEase Cloud Music maintains traffic stability with independent music incubation and Kpop copyright. In addition, the increase in the proportion of paywalls and the expansion of SVIP rights promote ARPPU growth.