{"id":99149,"date":"2021-01-13T20:47:20","date_gmt":"2021-01-13T20:47:20","guid":{"rendered":"https:\/\/www.musicbusinessworldwide.com\/?post_type=companies&p=99149"},"modified":"2021-02-04T16:46:12","modified_gmt":"2021-02-04T16:46:12","slug":"alibaba","status":"publish","type":"companies","link":"https:\/\/www.musicbusinessworldwide.com\/companies\/alibaba\/","title":{"rendered":"Alibaba"},"content":{"rendered":"

Alibaba is one of the largest companies in China, and was founded in 1999 by billionaire Jack Ma.<\/p>\n

Across its divisions, Alibaba operates in e-commerce, retail, internet services, and technology.<\/p>\n

The company generated the equivalent<\/a> of $72 billion in revenue in the calendar year ended March\u00a02020, alongside an operating profit of $23.5bn.<\/p>\n

\n
NetEase Cloud Music investment and Xiami Music closure<\/h6>\n

In 2019, Alibaba acquired a minority stake in NetEase Cloud Music, China’s second biggest music streaming services company.<\/p>\n

That deal saw a total investment<\/a> of $700m in NetEase Cloud Music from both Alibaba and Yunfeng.<\/p>\n

In January 2020, Alibaba announced that it would be shutting down<\/a> its own music streaming service, Xiami Music.<\/p>\n

In that announcement, Alibaba told consumers [translated]: “Due to operational adjustments, we will stop the service of Xiami Music,\u201d said Alibaba in a post announcing the news.<\/p>\n

\u201cIt\u2019s hard to say goodbye after being with you for 12 years.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Alibaba generated the equivalent of $72 billion in the 12 months to end of March 2020<\/p>\n","protected":false},"featured_media":69766,"parent":0,"menu_order":0,"template":"","class_list":["post-99149","companies","type-companies","status-publish","has-post-thumbnail","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/companies\/99149","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/companies"}],"about":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/types\/companies"}],"version-history":[{"count":0,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/companies\/99149\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/media\/69766"}],"wp:attachment":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/media?parent=99149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}