On September 27th, Tencent Music Entertainment Group released its first Environmental, Social, and Governance Report, Social and Governance Report， The ESG report provides a comprehensive introduction to Tencent Music's measures and practices in responsible platforms, caring for employees, and social responsibility, and reviews the integration of business development and ESG concepts.
Our first ESG report showcases the specific measures we have taken to formulate and implement sustainable development strategies. Based on this, we are committed to shaping a sustainable future, "said Peng Jiaxin, Executive Chairman of Tencent Music Entertainment Group
With the increasing global emphasis on sustainable development and environmental protection, ESG concepts have gradually become an important standard for measuring corporate social responsibility and long-term value. Tencent Music conducts comprehensive stakeholder research to fully evaluate the importance of various ESG issues. The report shows that Tencent Music integrates ESG concepts into its operations and corporate governance, promotes effective ESG governance, actively practices social responsibility, advocates diversity and inclusiveness, and is committed to creating sustainable long-term value.
Actively assuming platform responsibilities and promoting the healthy development of digital music
As a leader in online music and audio entertainment services in China, Tencent Music actively takes on platform responsibilities and is committed to promoting the healthy and sustainable development of the online music industry.
In terms of safeguarding user rights, Tencent Music is committed to providing users with a safe, high-quality, and friendly experience. Tencent Music strictly abides by the legal provisions on network security, personal information protection, and data security, attaches great importance to user data and privacy security, formulates internal systems to clarify privacy protection management responsibilities, and establishes a dedicated organization responsible for managing personal information protection and data compliance related work. The main apps within the group, such as QQ Music, Kugou Music, Quanmin K-song, and Lazy Listening to Books, have all passed the third level certification of China's network security protection.
In promoting the legalization of digital music, Tencent Music has always taken it as its responsibility to promote the protection of music copyright and various intellectual property rights. It continuously improves its internal intellectual property protection mechanism, deepens cooperation with copyright holders, and fully utilizes artificial intelligence technology and other methods to protect the intellectual property rights of the platform and creators. For example, it links with the "Zhixin Chain" to achieve automatic storage of blockchain copyright, providing powerful copyright protection for musicians' works. In 2023, Tencent Music won many authoritative awards such as the "24th China Patent Excellence Award" from the China National Intellectual Property Administration and the "2023 China Copyright Influential Enterprise" from the China Copyright Association.
In empowering original musicians, Tencent Music continues to promote talent cultivation and ecological construction, injecting positive influence into the music industry. As of the end of 2023, the number of musicians registered on Tencent Musician Platform has reached 480000, and over 500 music creation and collection activities have been held. In order to tap into the potential of musicians, Tencent Musicians platform will launch a newly upgraded "New Power Plan" in March 2023, which will support musicians and their original works through self-made studios, creation, and promotion.
In addition, Tencent Music focuses on five innovative directions: technology accessibility, technology for musicians, technology for children, technology for traditional culture, and technology for life. It continues to cultivate the path of technology inclusiveness and has achieved multiple results. For example, releasing the first domestic low-frequency public welfare album "Listening to Music that Cannot be Heard", using the first hearing adaptation low-frequency music technology, so that people with different degrees of hearing loss can hear the complete music work; Jointly launched the "AI Programming Lesson 1" public welfare project with the Soong Ching Ling Foundation, relying on the one-stop composition and arrangement technology of "Qin Music" and the AI music visual generation technology of "MUSE AI Painting", allowing young people to experience the fun interactive creation brought by AI.
Deeply cultivating public welfare, advocating sustainable concepts, and allowing music to play a broader social value
Public welfare and charity are important ways for enterprises to give back to society. Tencent Music focuses on the three directions of "music care, cultural inheritance, and music education", using music as a medium to convey love and warmth, and is committed to making music play a greater social value. Tencent Music has successively launched public welfare projects such as the "If Music Has Shape" Music Care Special Project, the "Le Pu Music Space" Music Education Project, and the "Little Red Flower Concert" to continue caring for the growth of children with autism and rural children. Tencent Music has also established the Tencent Music Volunteer Association to gradually improve its volunteer service system. In 2023, 124 employee volunteers will participate in public welfare practices such as life emergency, ecological protection, music care, and music education.
Employees are the cornerstone of enterprise development. Tencent Music strives to create a diverse, equal, and inclusive work environment, and provides diversified learning channels and resources for employees' growth and development. The TME Music Academy online learning platform has opened more than 1000 online courses for employees to choose from, and the average online learning time per group employee exceeds 15 hours. In 2023, Tencent Music conducted a survey on organizational capability and satisfaction with professionalism, with a questionnaire response rate of 88%. The research results show that employees' identification and confidence index towards the company have both increased year-on-year.
In addition, Tencent Music is also fully implementing the concept of green, healthy, and sustainable work and life. Deeply implement the concept of green building in the site selection of office buildings and the construction of new buildings, and promote green and low-carbon office methods.
In the future, TME will adhere to the values of 'integrity, cooperation, passion, and excellence', work together with stakeholders such as users, employees, and partners, use technology as a means, and sustainable development as a beacon to promote the prosperity of the music ecosystem and make music experiences richer and more convenient, "said Peng Jiaxin, Executive Chairman of Tencent Music Entertainment Group, in a report
On the road to shaping a sustainable future, Tencent Music will continue to fulfill its social responsibility, practice ESG concepts with practical actions, and create more value for society.