Tencent Music Entertainment (TME), the owner of popular music apps QQ Music, Kugou Music, Kuwo Music and WeSing, is waving goodbye to one of its most significant executives.
Andy Ng has volunteered to withdraw from his management position as Group Vice President of TME for “personal reasons”. Ng and TME’s Board of Directors reached an agreement, in which Ng will advise the company on strategic copyright partnerships as Group Senior Consultant, effective March 8, 2019.
Ng (pictured) will continue to report to TME’s Chief Executive Officer, Cussion Kar Shun Pang.
Tsai Chun Pan, a Group Vice President who was previously in charge of Ultimate Music – a business unit that provides online music services to smart devices and automobile manufacturers – will assume Ng’s responsibilities in copyright management.
Simultaneously, Cheuk Tung Tony Yip will assume Pan’s role in managing Ultimate Music while also retaining his current position as the Chief Strategy Officer of the company.
MBW interviewed Andy Ng in early 2017. We asked the exec to compare TME’s profitable business with loss-making global market leader, Spotify. He said: “The China market was somewhere nobody expected growth so when we were negotiating terms with the labels we were able to secure deals that left room for making a profit. Also, from a management perspective, Tencent has tight control over the cost of human resources.”
“Andy’s significant contribution to our success in promoting copyright protection over the years has made us a partner of choice for artists and content owners.”
Cussion Kar Shun Pang, Tencent Music
During Ng’s tenure as Group Vice President in copyright management, he was widely recognized for establishing strong relationships between Tencent Music and its content partners and developing successful business models in China.
Prior to joining Tencent Music as Group Vice President responsible for Ultimate Music, Pan worked as the head of entertainment services for Nokia Greater China from 2005 to 2013. In 2014, he established Ultimate Music, which was acquired by Tencent Music in 2017.
Prior to joining Tencent Music in 2018 as Chief Strategy Officer, Yip was vice president of Baidu, Inc. since 2015, where he served as Chief Financial Officer of the search business group and head of investments, mergers and acquisitions. Yip also served on the board of directors of Ctrip.com International Ltd from 2015 to 2017.
“We are confident that in their new roles, Tsai Chun and Andy will be able to leverage their extensive experience in the Chinese music entertainment business, forge new alliances with our content partners, augment our copyright protection initiatives, and facilitate the healthy growth of the domestic music entertainment industry,” stated Cussion Kar Shun Pang, Chief Executive Officer of Tencent Music.
“Andy’s significant contribution to our success in promoting copyright protection over the years has made us a partner of choice for artists and content owners. Going forward, we will continue to benefit from Tsai Chun’s and Andy’s tremendous expertise in developing new forms of music content and strategic copyright partnerships.
“In addition, Tony’s track record in strategic development makes him an ideal leader to spearhead the growth of Ultimate Music and make our music services ubiquitous across a broad range of connected devices.”
Tencent Music Entertainment successfully floated on the New York Stock ExchangeMusic Business Worldwide