(Yicai Global) March 6 -- Duomi Music Inc., China’s first online music platform to go public, has terminated its streaming services indefinitely.
American smart speaker maker Sonos Inc. emailed users to say that it would no longer support Beijing-based Duomi’s music app as the streaming platform had shut down, Sohu Tech reported. Duomi has not issued a statement to clarify the matter, or updated its official Weibo account, a popular Chinese social media platform, since Feb. 9.
Duomi announced on Feb. 14 that it would delist from the National Equities Exchange and Quotations, China’s over-the-counter stock market better known as the New Third Board. It listed in September 2016 but has been operating at a loss for many years, and a top executive admitted in an interview last year that the firm could no longer afford music licenses.
China has been doubling down on online music copyright licensing since 2016. As more and more consumers pay for their music, licenses have become a core resource for streaming platforms. Duomi began to lose users as it found itself unable to keep up with the new regulators, paving the way for Tencent Holdings Ltd., NetEase Inc. and Alibaba Group Holding Ltd. to exert their influence over the market.
Duomi released a music service for the Symbian mobile operating system in 2009, setting it aside from many such platforms that began on desktops. It rolled out an Android platform in 2010 and claimed to have 150 million users by 2013.Keywords: Duomi Music, Streaming, Copyright Licensing