The Tencent report also said that in the fourth quarter of last year, the number of active monthly users of QQ Music, Kugou and Kuwo-online streaming services run by TME-reached 622 million. Some 56 million users paid to listen to music through these services.
Liu said: "It's great to enjoy music from around the world by just clicking the 'play' button on your phone. The money people pay to listen to music online for a whole year may only have bought one or two CDs 20 years ago. However, without a traditional 'engine' such as a recording company, the music industry doesn't work in an orderly way.
"After a singer-songwriter shares his or her songs on the internet, what's next? If the song goes viral, will the artist receive sufficient reimbursement to invest in the next song?"
Liu added that the quality of songs appearing on the market is also a problem.
"Music is amazing. The songs you listen to can inspire you and even change your life. Inspiring lyrics or melodies can motivate you or remind you to appreciate the beauty of the world you live in. This is one of the best things about songwriting and enjoying music," he said.
"However, if you try to appeal to everybody in the world, then you become lost. I'm just trying to produce music that makes sense to me, and I'm lucky there are people with whom I can share the music I create.
"From my experience of songwriting, you can never predict the next big thing, because you don't know what the listeners want. I just express myself and stay true to my music, which has really taken on a life of its own."