The icons for Tencent Holdings Ltd apps, clockwise from top left, WeChat, QQ, Joox, Tencent News and Tencent Video. Outside of its core gaming business, Tencent hasn’t had many overseas successes, but Joox has proven the exception thanks to a strategy of targeting immature markets for paid music services. — Bloomberg
Tencent Holdings Ltd is looking to bring its paid music app Joox to some of Africa’s most populous countries after the streaming service proved a hit in South-East Asia.
Joox has become one of the most popular music apps in emerging markets from Indonesia to Thailand and Malaysia since launching in 2015, rivaling the likes of Spotify, in which Tencent also has a stake. Now the Chinese social media giant is hoping for a repeat on the world’s second largest continent, said Poshu Yeung, vice president of Tencent’s international business group.
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