First, Xiami Music can't continue to operate because it doesn't make money, so it decided to close down. Xiami Music was relatively popular at first, but with the development of Internet, the company didn't keep up with the times. More and more users went to other music platforms. Xiami Music didn't make money, so the investment company couldn't continue to invest, so it had to stop operating, reduce losses and switch to other aspects to make profits.
Second, only TME and Netease Cloud Music are left on the domestic music platform. Only TME's music platform and Netease Cloud Music are left in the domestic music platform. With the abundant capital of its parent company, TME quickly cooperated with the three major record companies in the world and got the copyrights of many singers. Other platforms have no copyrights and can't listen to the songs of favorite singers. TME can listen to 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. Therefore, there are only two major music platforms left in the market.
Third, the downturn in the domestic music scene has led to the withdrawal of many music platforms from the market. The decline of domestic music platforms is inseparable from the depression of the music industry. Since the rapid development of the internet, people's aesthetics have been impacted. Many low-cost music has occupied the market because of its wide audience, but these music are not in line with the trend in aesthetics and cannot lead the development of the music industry, so many music platforms have finally withdrawn from the market.
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