First, Xiami Music decided to close down because it could not continue to operate because it did not make money. Xiami Music was quite popular at first, but with the development of Internet, the company didn't keep up with the times. More and more users turn to other music platforms. Xiami Music doesn't make money, so investment companies can't continue to invest, so they have to stop operating, reduce losses and turn to other aspects for profit.
Second, there are only TME and Netease cloud music left in the domestic music platform. Only TME's music platform and Netease Cloud Music are left in the domestic music platform. With the abundant funds of the parent company, TME quickly cooperated with the three major record companies in the world and obtained the copyrights of many singers. Other platforms have no copyright, and you can't hear the songs of your favorite singers. TME can listen to the opinions of more natural users. Netease Cloud Music has many original singers, and the platform has attracted many humanistic users, who are more loyal to Netease Cloud Music. So there are only two major music platforms left in the market.
Third, the downturn in the domestic music scene has led many music platforms to withdraw from the market. The decline of domestic music platforms is closely related to the depression of the music industry. Since the rapid development of the Internet, people's aesthetics have been impacted. Many low-cost music occupied the market because of its wide audience, but these music did not conform to the trend in aesthetics and could not lead the development of the music industry, so many music platforms finally withdrew from the market.
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