Tag: tencent

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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...
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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...
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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...
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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...
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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,...
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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...
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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...
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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...
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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...
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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...
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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...
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Tencent expected to spin off its music-streaming service

Chinese tech giant Tencent may be planning to spin off its music-streaming business. That’s according to bankers interviewed by the Financial Times, who see the service – with a two-thirds market share in China and...