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 took 9.1 percent following a stock swap late last year. They claimed over 80 percent in terms of monthly active users, distantly followed by rival Net-Ease Inc's music arm at 66.8 million and other even smaller players including Alibaba Group Holding Ltd's Xiami Music, consultancy QuestMobile said in January. China's online music pan-entertainment market, which contains online music services, online karaoke, ads, and music copyright operations, is expected to grow at a compound annual growth rate of 37 percent to 215.2 billion yuan by 2023, according to estimates from consultancy iResearch.

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History of this topic

Tencent doubles share repurchases as revenue, profit rises
9 months, 3 weeks ago

Tencent doubles share repurchases as revenue, profit rises

China Daily  

People visit the Tencent stand during the 2018 World Artificial Intelligence Conference in Shanghai, Sept 21, 2018. Chinese tech firm Tencent Holdings said on Wednesday that it will at least double the size of its share repurchases from HK$49 billion in 2023 to over HK$100 billion this year, as the company posted a rise in revenue and profit in its …

Tencent Q4 earnings prompt stock tumble as China crackdown hits growth
2 years, 9 months ago

Tencent Q4 earnings prompt stock tumble as China crackdown hits growth

CNN  

Hong Kong CNN Business — Tencent’s stock suffered a sharp drop after the company reported its slowest-ever growth due to a bruising crackdown by China on the country’s tech sector. Co-founder Pony Ma and president Martin Lau joined an earnings call on late Wednesday and acknowledged that 2021 was a “challenging year” for Tencent and China’s internet industry more broadly. …

Music industry records double-digit growth worldwide in 2021
2 years, 9 months ago

Music industry records double-digit growth worldwide in 2021

China Daily  

The global recorded music market grew by 18.5 percent in 2021 despite the impact of the COVID-19 pandemic, according to the annual global music report released by the International Federation of the Phonographic Industry on March 22. Driven by growth in paid subscription streaming, the total revenues for the global music market were $25.9 billion last year, the report showed. …

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's crackdown on 'powerful' tech giants may be a 'terrible own goal'
3 years, 4 months ago

China's crackdown on 'powerful' tech giants may be a 'terrible own goal'

ABC  

For many years, Jack Ma was the poster child for China's technological rise, until he gave a controversial speech which led to the Communist Party turning him into "public enemy number one". Key points: Alibaba founder Jack Ma is $32.5b poorer after criticising the government His speech is regarded as a "tipping point" for Beijing's wider tech crackdown US-China rivalry …

Tencent, Alibaba, Meituan stocks continue to plunge as China expands its crackdown
3 years, 5 months ago

Tencent, Alibaba, Meituan stocks continue to plunge as China expands its crackdown

CNN  

Hong Kong CNN Business — Chinese tech stocks keep getting slammed with a stunningly massive sell-off that has wiped outhundredsof billions of dollars in market valueas investors continue to digest Beijing’s widening crackdown on private enterprise. Meituan closed down 17.7% in Hong Kong on Tuesday, eclipsing Monday’s massive 14% loss — making it the food delivery firm’s worst two days …

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 …

Tencent just got a bit of good news from Chinese regulators on its Sogou deal
3 years, 6 months ago

Tencent just got a bit of good news from Chinese regulators on its Sogou deal

CNN  

Hong Kong CNN Business — Chinese regulators have cleared the way for Tencent to take complete control of Sogou, a major search engine that could help the tech firm take on market leader Baidu. China’s State Administration for Market Regulation said Tuesday that it had “unconditionally approved” the buyout, which will take New York-listed Sogou private. “This merger is powerful,” …

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 stock: Naspers’ spin-off Prosus sells stake worth $15 billion
3 years, 9 months ago

Tencent stock: Naspers’ spin-off Prosus sells stake worth $15 billion

CNN  

Hong Kong CNN Business — Tencent’s biggest shareholder has sold $14.7 billion worth of shares in the Chinese social media and gaming giant, and will use the money to invest in other growth ventures. Prosus, a spin-offby South African media and internet investment firm Naspers, sold a 2% stake in Tencent for 114.2 billion Hong Kong dollars, the Chinesetech giant …

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 …

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 posted a big profit. But there’s trouble ahead
5 years, 5 months ago

Tencent posted a big profit. But there’s trouble ahead

CNN  

Hong Kong CNN Business — Tencent’s profit jumped 35% in the second quarter thanks to a sharp turnaround in its video game business. Shares in Tencent tumbled nearly 3% in Hong Kong on Thursday after the tech giant reported sales that fell short of analyst expectations and warned that an economic slowdown in China was hurting its advertising business. “China’s …

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 …

China trade war is music to a French billionaire’s ears
5 years, 7 months ago

China trade war is music to a French billionaire’s ears

Hindustan Times  

The US - China trade war may give Vivendi SA some handy cover if the sale of its stake in Universal Music Group falls to generate its target price. Tencent, the owner of WeChat, could easily afford a deal – its annual free cash flow is more than $13 billion and its net debt is less than a tenth of …

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 …

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 …

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 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, …

Tencent’s $143 billion rout is world’s biggest as tech sinks
6 years, 5 months ago

Tencent’s $143 billion rout is world’s biggest as tech sinks

Live Mint  

Hong Kong: If you thought the slump in US technology stocks was bad, take a look at Tencent Holdings Ltd. Tencent, Asia’s second-largest company after e-commerce behemoth Alibaba Group Holding Ltd., has also been dogged by concern that growth in its mobile-gaming unit is slowing. “Investors are increasingly pricing in lower expectations for Tencent’s interim results,” said Linus Yip, a …

Xiaomi shares dropped by 2.9 percent on the first day of its IPO listing
6 years, 6 months ago

Xiaomi shares dropped by 2.9 percent on the first day of its IPO listing

Firstpost  

Xiaomi priced its Hong Kong initial public offering at HK$17 per share, the bottom of an indicative range. Chinese smartphone maker Xiaomi Corp’s shares dropped 2.9 percent on debut in Hong Kong on 9 July, in a blow to investor sentiment for the tech sector as a raft of peers line up their own listings in the city. Xiaomi priced …

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