Tencent in talks to buy up to 20% stake in Universal Music Group
There’s been a significant development in Vivendi’s moves to sell of up to 50% of Universal Music Group. This morning, UMG’s parent company announced that it has entered into ‘primary negotiations’ with Tencent...
August 6, 2019
Tencent Music now has 28.4m paying users for online music
Tencent Music Entertainment (TME) reported its financial results for the first quarter of 2019 overnight, and there are plenty of big numbers as you’d expect. Overall revenues grew by 39.4% year-on-year to RMB 5.74bn...
May 14, 2019
WeChat users can now add songs to the videos they post
Chinese messaging app WeChat has a new feature that allows people to add songs to the videos they are sharing with friends. The feature is drawing these background tracks from QQ Music, one of the streaming services operated...
May 9, 2019
Tencent Music financials reveal revenues grew by 72.9% in 2018
It’s not just Spotify enduring the slings and arrows (well, share-price drops) of life as a public music-streaming company. Tencent Music published its latest financial results overnight, and saw its share price drop...
March 20, 2019
Direct streaming deals in China can run to ‘millions of dollars’
In the west, the thought of Spotify and Apple Music signing direct licensing deals with artists – cutting out labels and even distributors – is causing a certain amount of tension. However, it’s no secret that such...
March 6, 2019
Tencent Music invests in music-streaming service Douban FM
Tencent already owns three of the main music-streaming services in China. Now it has invested in a fourth: Douban FM. However, the deal is being described (by TechNode) as a strategic investment that will see Tencent providing...
February 21, 2019
Tencent Music strikes deal with AI-music startup Amper Music
Chinese firm Tencent Music had 644 million monthly active users for its three music-streaming services at the end of June last year: QQ Music, Kugou and Kuwo. QQ Music is the biggest of those, so here’s something to think...
January 24, 2019
Tencent Xiaowei virtual-assistant will link to QQ Music
Just as Apple gets set to launch its HomePod (Siri voice-assistant included) in China, so local tech giant Tencent is preparing to launch a new smart-assistant of its own. It’s called Xiaowei, and according to Bloomberg...
January 14, 2019
Report 419: The 40 Trends of 2018
“May you live in interesting times,” runs the old Chinese curse. The music industry has certainly done that, through the last two decades of digital disruption. Typical to form, 2018 was very interesting indeed. For our...
December 20, 2018
Tencent Music shares rise on first day of trading
Tencent Music’s IPO appears to have gone smoothly yesterday, with the company’s shares closing at $14, giving the Chinese digital-music group a market cap of $21.81bn – making Spotify’s 9% stake in the company...
December 13, 2018
Tencent Music valued at $21.3bn as IPO raises $1.1bn
It may have been a slightly bumpy, delayed final stage of its journey, but Tencent Music is delivering its goal of going public in 2018. The final numbers for the company’s US IPO are $1.1bn raised, after setting the price...
December 12, 2018