Report: Tencent Music halves amount sought in IPO to $2bn
We’re eagerly awaiting more public details on Tencent Music’s IPO in the US, which will give the industry a deeper insight into the figures and trends around the Chinese company’s music-streaming services. Its filing...
September 19, 2018
Tencent / NetEase affected as Chinese government cracks down on gaming
Here’s a story that’s only just getting picked up in the west: the Chinese government has not approved the release of any new paid games in the country since March, nor has it approved any new free games to use in-game...
September 4, 2018
Tencent quarterly revenues up 30% year-on-year
Music didn’t get much of a mention in Chinese tech firm Tencent’s latest quarterly financial results, which saw the company’s revenues grow by 30% year-on-year to $11.1bn, with a net profit of $2.8bn. Tencent did...
August 20, 2018
Tencent Music Entertainment tipped to file for IPO this week
Spotify’s direct public offering is still fresh in the memory, but another much anticipated music-streaming public offering – this time an IPO rather than a DPO – may be imminent. Local media reports suggest that...
July 5, 2018
Beggars Group China strategy: ‘We have a real issue with exclusivity’
“China was my hobby for the best part of 10 years: something which the company allowed me to run as a hobby on the side as long as I wasn’t spending too much money. It was five years before we made any money whatsoever,...
April 5, 2018
Merlin signs deals with NetEase, Tencent and Alibaba in China
Indie licensing agency Merlin has announced agreements with the three biggest music-streaming service owners in China: Tencent, NetEase and Alibaba. The deals will see the catalogue represented by Merlin – music from...
March 15, 2018
Tencent leads $115m round for Indian music service Gaana
Indian streaming service Gaana has raised a $115m funding round led by Chinese tech firm Tencent, as it sets its sights on growing to 200 million active users in the next three years. That would be a sharp rise from the...
February 28, 2018
Sony Music launches dance label with Tencent Music
Fresh from its stock-swap with Spotify, Tencent Music has another interesting partnership with a western firm: Sony Music. The pair have teamed up to launch Liquid State, a label that will focus on dance music from Asian...
February 1, 2018
Paid online-music market tipped to grow 59% in China
The market for ‘paid online music’ in China is expected to grow by 59% this year to $455m according to research firm iResearch, whose prediction is quoted prominently in the Financial Times’ latest piece on China. It...
November 24, 2017
Tencent strikes sub-licensing deal with Alibaba in China
One of the quirks of the Chinese digital music market, from a western perspective, is the exclusive licensing deals that tech-giant Tencent has struck with major labels. Its deals with global label groups like Universal...
September 12, 2017
Tencent Music hopes for $10bn valuation in IPO
Spotify isn’t the only music-streaming entity plotting its path towards public status. Chinese tech giant Tencent has been mulling an IPO for its Tencent Music Entertainment Group, with Bloomberg reporting that the company...
September 4, 2017