(Reuters) – China’s Tencent Music Entertainment Group (NYSE:) reported a 15% drop in quarterly revenues on Monday. This was due to a decrease in demand for the company’s music streaming platform, which is facing stiff competition.

The total revenue of Tencent Holdings Ltd (OTC) fell to 6.64 Billion Yuan ($979.03 Million) in its first quarter from 7.82 billion one year ago.

($1 = 6.7822 renminbi)