Ximalaya FM

Ximalaya runs one of China's largest online audio platforms. Its library includes audiobooks, podcasts, children's stories, financial news, and user-generated audio, and it makes money mainly from user subscriptions and payments for audio content. The company reported about 303 million monthly active users in 2023 and launched its Xiaoya AI smart speaker in 2017. Tencent Music Entertainment announced it would buy Ximalaya on June 10, 2025, and completed the deal on May 18, 2026, for about RMB 18.6B (~US$2.6B) in cash and stock. Ximalaya is now a wholly owned TME subsidiary.