Alibaba to Suspend Xiami Music Service from February
Alibaba Group has announced the closure of its music streaming platform - Xiami Music starting next month, 12 years after its inception.
Despite millions of yuan investment, the app only has 2% of China's music streaming market, behind KuGou Music, QQ Music, KuWo, and NetEase Cloud Music, according to TalkingData. It appears that given the antitrust investigations into Alibaba’s business, Xiami's closure became a logical step. The service will be suspended starting February 5.
This does not, however, mark the end to Alibaba’s footprint in China’s entertainment and online streaming business. In September 2019, Alibaba has invested $700 million in one of Xiami's competitors - NetEase Cloud Music.
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