Tencent music arm debuts on NYSE
6 years, 1 month ago

Tencent music arm debuts on NYSE

China Daily  

Visitors check out Tencent Music Entertainment products at the company's booth during a music show in Beijing. Tencent Holdings Ltd's music arm finally pressed the play button, debuting on the New York Stock Exchange on Wednesday, as part of the tech giant's efforts to diversify its business and seek new growth drivers. Tencent Music Entertainment Group priced its initial public offering at $13 per American depository receipt, and seeks to raise $1.07 billion in total, the company stated on Wednesday. With a combined 800 million monthly active users, TME runs four leading mobile music apps in China: QQ Music, Kugou Music, Kuwo Music and mobile karaoke app WeSing. Tencent's third quarter fiscal report showed that its net income rose 30 percent to 23.3 billion yuan this year, thanks to lower operating expenses and investment gains.

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History of this topic

Major music groups agree to renew agreement
1 year ago

Major music groups agree to renew agreement

China Daily  

Singer Eason Chan The renewal of multiyear strategic licensing agreement between Universal Music Group and Tencent Music Entertainment Group was announced. The deal allows Tencent Music Entertainment Group — the leading online music platform in China — to continue to have access to Universal Music Group's catalog for its online platforms, including QQ Music, Kugou Music, Kuwo Music, and WeSing. …

Digital music market rapidly expanding
3 years ago

Digital music market rapidly expanding

China Daily  

A passenger uses a smartphone on a subway in Shanghai in October. China's digital music market has witnessed steady growth along with the popularization of the mobile internet and relentless official efforts to combat piracy, and Generation Z consumers－born between the mid-1990s and the early 2010s－are increasingly willing to pay for copyrighted online music, experts said. Revenue of China's digital …

China regulator bars Tencent from exclusive rights in online music
3 years, 5 months ago

China regulator bars Tencent from exclusive rights in online music

The Hindu  

China's market regulator on Saturday said it would bar Tencent Holdings Ltd from exclusive music copyright agreements and fined the company for unfair market practices in the online music market after its acquisition of China Music Corporation. The State Administration Of Market Regulation said it had investigated Tencent's activities in the online music broadcasting platform market in China, in which …

China to order Tencent Music to give up music label exclusivity
3 years, 6 months ago

China to order Tencent Music to give up music label exclusivity

The Hindu  

China's antitrust regulator is poised to order the music streaming arm of Tencent Holdings Ltd to give up exclusive rights to music labels, two people with direct knowledge of the matter said on Monday. The penalty, plus a 500,000 yuan fine form is reporting the acquisition of two apps, is the culmination of an investigation by the State Administration of …

Tencent Q1 earnings: Company puts out strong results, but shares slump
3 years, 7 months ago

Tencent Q1 earnings: Company puts out strong results, but shares slump

CNN  

Hong Kong CNN Business — Tencent is pulling in more money and plans on investing more in games and videos, even as Beijing expands its scrutiny of the tech sector. “People are basically looking for excuses to cash out their stake in the company,” said Hong.“There’s always risk associated with new investments, so some people may want to take money …

Tencent boss meets China antitrust officials as scrutiny widens
3 years, 9 months ago

Tencent boss meets China antitrust officials as scrutiny widens

The Hindu  

Pony Ma, the low-profile founder of Tencent Holdings, China's biggest social media and video games company, met with antitrust watchdog officials this month to discuss compliance at his group, three people with direct knowledge of the matter told Reuters. Wu Zhenguo, the head of SAMR's anti-monopoly bureau, who was also at the meeting, expressed concern about some of Tencent's business …

PUBG Mobile Ban: Tencent Has Lost About $34 Billion in Just Two Days
4 years, 4 months ago

PUBG Mobile Ban: Tencent Has Lost About $34 Billion in Just Two Days

News 18  

The recent ban on the popular mobile game PUBG Mobile has hit the Indian gaming community hard, but not as much as the game’s developer Tencent. Apart from PUBG Mobile, Arena of Valor, Chess Run, and Ludo World have also been blocked, all of which have an association with Tencent and are being considered for the company’s dip in the …

Tencent to launch its 1st music entertainment awards
5 years, 2 months ago

Tencent to launch its 1st music entertainment awards

China Daily  

PC Pan, vice-president of Tencent Music Entertainment Group, speaks at a news conference. Tencent Music Entertainment will launch its first Tencent Music Entertainment Awards on Dec 8, announced the company's CEO Cussion Pang. According to PC Pan, vice-president of Tencent Music Entertainment Group, Content Co-op and Rights Management, the ceremony wil l see the performances of pop artists from international …

Tencent to launch its 1st music entertainment awards
5 years, 2 months ago

Tencent to launch its 1st music entertainment awards

China Daily  

PC Pan, vice-president of Tencent Music Entertainment Group, speaks at a news conference. Tencent Music Entertainment will launch its first Tencent Music Entertainment Awards on Dec 8, announced the company's CEO Cussion Pang. According to PC Pan, vice-president of Tencent Music Entertainment Group, Content Co-op and Rights Management, the ceremony wil l see the performances of pop artists from international …

Tencent Holdings posts 35% rise in net profit thanks to growth in gaming business
5 years, 5 months ago

Tencent Holdings posts 35% rise in net profit thanks to growth in gaming business

Firstpost  

In 2018, Tencent turned in its slowest annual profit growth in 13 years due to a suspension in approvals for new games. Tencent Holdings posted a better-than-expected 35 percent rise in quarterly net profit on Wednesday as growth in its gaming business resumed after a long regulatory freeze in China and its fintech operations saw revenues rise sharply. However, the …

Tencent takes down PUBG, one of its top video games, in China
5 years, 8 months ago

Tencent takes down PUBG, one of its top video games, in China

CNN  

Hong Kong CNN Business — Tencent has pulled the plug on its wildly popular video game PlayerUnknown’s Battlegrounds in China, a likely victim of government restrictions on gaming. A message posted on the game’s official social media account said the testing period for PlayerUnknown’s Battlegrounds ended on Wednesday. VCG via Getty Images Karen Chan, an analyst with Jefferies, said the …

Tencent: Naspers is bringing its $134 billion stake to Europe
5 years, 9 months ago

Tencent: Naspers is bringing its $134 billion stake to Europe

CNN  

London CNN Business — Tencent’s largest investor is listing its $134 billion stake in the Chinese internet giant in Europe. South African media group Naspers unveiled plans Monday to bundle its stakes in tech businesses including Tencent into a new company that will be listed in Amsterdam. Naspers would float 25% of the shares in the new business, which it …

Tencent profit plunges 32% but its gaming business is recovering
5 years, 9 months ago

Tencent profit plunges 32% but its gaming business is recovering

CNN  

Hong Kong CNN Business — Tencent’s troubles aren’t over yet. Brokerage firm Daiwa said Tencent’s solid gaming business will continue to pull in money, users and overseas players. “We believe the company’s ability to procure quality gaming content in adverse market conditions will drive a recovery in sentiment,” Daiwa analysts wrote in a report published Wednesday. Tencent is still waiting …

Spotify India signs up one million users in less than a week
5 years, 10 months ago

Spotify India signs up one million users in less than a week

CNN  

New Delhi CNN Business — Spotify may have waited a year to launch in India, but it took less than a week to sign up its first million users in the country. Spotify first announced plans to expand to India in March 2018, but its official rollout was held up by delays in signing deals with major record labels. Gaana, …

Tencent Music IPO ends up at bottom of price range amid rocky markets
6 years, 1 month ago

Tencent Music IPO ends up at bottom of price range amid rocky markets

CNN  

Hong Kong CNN Business — Tencent’s IPO of its music business failed to raise as much money as the internet giant had hoped. Tencent Music, which dominates music streaming in China, said Wednesday that its listing priced at the bottom of its targeted range. Tencent Music’s IPO price will give it a market value of $21.3 billion, according to data …

Tencent aims to hit the right note with IPO
6 years, 1 month ago

Tencent aims to hit the right note with IPO

China Daily  

The stand of Tencent Holdings Ltd's music arm at an industry expo in Beijing. With a combined 800 million monthly active users, Tencent's music subsidiary runs four leading mobile music apps in China, namely QQ Music, Kugou Music, Kuwo Music and mobile karaoke app WeSing. Tencent has a 58 percent stake in TME, while Swedish music streaming peer Spotify Technology …

Tencent announces restructuring amidst introduction of tougher govt regulation
6 years, 3 months ago

Tencent announces restructuring amidst introduction of tougher govt regulation

Firstpost  

The reshuffle is followed by a hefty fall in market value for Tencent Holdings this year. Chinese internet giant Tencent Holdings announced on Sunday its first restructuring in six years, done at a time it faces increased challenges from tighter government regulations. The reshuffle comes as Tencent Holdings, which has seen a hefty fall in market value this year, is …

Tencent market value slumps by $20 billion after Chinese crackdown on gaming
6 years, 4 months ago

Tencent market value slumps by $20 billion after Chinese crackdown on gaming

Firstpost  

Chinese Ministry called on parents to limit the time their children spend using mobile phones. Tencent Holdings’ market value slumped by around $20 billion on Friday after China intensified a crackdown on online gaming citing rising levels of myopia, heightening regulatory risks for companies in the world’s biggest gaming market. Tencent has lost more than $160 billion in market value …

Tencent loses $20 billion in value after China attacks myopia with gaming curbs
6 years, 4 months ago

Tencent loses $20 billion in value after China attacks myopia with gaming curbs

Live Mint  

Hong Kong/Beijing: Tencent Holdings’ market value slumped by around $20 billion on Friday after China intensified a crackdown on online gaming citing rising levels of myopia, heightening regulatory risks for companies in the world’s biggest gaming market. The limits came around the same time as Tencent drew scrutiny from China’s communist party mouthpiece, the People’s Daily, which described “Honour of …

Profit at China's Tencent falls for first time in 13 years
6 years, 5 months ago

Profit at China's Tencent falls for first time in 13 years

The Telegraph  

Chinese technology giant Tencent unveiled its first profit fall in 13 years after a sluggish performance from its mobile gaming division. Tencent, the second most valuable firm listed in Asia and one of the largest constituents of the MSCI Emerging Market index, blamed the slowdown in growth on weak sales of some of its popular gaming titles. The poor performance, …

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