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Search Results for: "tencent"

Days Before Tencent Music's IPO Launch, a Mysterious Investor Claims to Own 80% of the Company

Tencent Music Subscribers Grow 50% to 42.7 Million — Wall Street Isn’t Impressed

Dylan Smith
May 12, 2020
Tencent Music expanded its stable of paid subscribers to 42.7 million during 2020's first quarter — a more than 50 percent year-over-year increase. However, the music streaming service also missed its revenue... Read More...
Tencent fund

Tencent Officially Closes Its $3.3 Billion, 10% Buyout of Universal Music Group

Dylan Smith
March 31, 2020
Photo Credit: Chris Yunker / CC by 2.0 Chinese conglomerate Tencent has officially acquired a 10 percent stake in Universal Music Group (UMG). Tencent and Vivendi, a French conglomerate and UMG’s parent comp... Read More...
Tencent fund

Tencent Launching Global Anti-Pandemic Fund With $100M Seed Funding

Ashley King
March 26, 2020
Photo Credit: Chris Yunker / CC by 2.0 Tencent launches the Global Anti-Pandemic Fund, a $100 million effort to fight coronavirus. Tencent joins other tech giants like Netflix and Facebook who have launched ... Read More...
Tencent Music

Tencent Music Boasts 39.9 Million Paying Subs — Tops Wall Street Estimates

Ashley King
March 17, 2020
Tencent Music closed 2019 with nearly 40 million paying music subscribers worldwide. Tencent Music Entertainment Group (TME) runs three different music streaming services in China. Those include QQ Music, Ku... Read More...

Tencent Officially Concludes 10% Purchase of Universal Music Group

Colin Cohen
December 31, 2019
2
Tencent announced that it and a consortium of investors had concluded its long awaited 10% purchase of Universal Music Group (UMG) from Vivendi for 3 billion euros ($3.36 billion). The acquisition is still s... Read More...
Tencent Music Halves IPO to $2 Billion

Tencent Music Announces $400 Million Stock Repurchase Plan

Colin Cohen
December 17, 2019
The board of directors of Tencent Music Entertainment announced that the company plans to repurchase $400 million of its shares. The repurchase relates to U.S.-traded Class A ordinary shares, in the form of ... Read More...

Tencent Reportedly Plunking $2 Billion on ByteDance Rival Kuaishou

Colin Cohen
December 4, 2019
It is being reported that Chinese conglomerate Tencent is investing $2 billion in Kuaishou, which owns a short video platform similar to ByteDance's Douyin. Kuaishou was launched in 2011 by Su Hua, who is al... Read More...

Independent Labels Take a Firm Stance Against UMG-Tencent Deal

Colin Cohen
November 26, 2019
IMPALA logo Independent music company coalition IMPALA is taking a firm stance against the impending deal between Universal Music Group (UMG) and Tencent, believing that it will hurt both competition and cons... Read More...

What Violent Political Unrest? Tencent Music Schedules Its Annual Shareholder Meeting in Hong Kong

Colin Cohen
November 25, 2019
Tencent logo Tencent Music Entertainment Group has announced that it will hold its annual general meeting next month in Hong Kong, in spite of all the unrest there due to political protests. The annual meeti... Read More...
Tencent Music Halves IPO to $2 Billion

Tencent Talking with Potential Co-Investors for Universal Music Group Bid

Colin Cohen
November 18, 2019
1
Tencent is reportedly looking to find co-investors for its bid to purchase a 10% interest of Universal Music Group (UMG) from Vivendi. According to Bloomberg, Tencent is approaching a number of companies to ... Read More...

Tencent Music Earnings Surge 31% in the Latest Quarter

Colin Cohen
November 12, 2019
Tencent Music Entertainment Group has released its third-quarter financials for 2019, with revenue surging a staggering 31% and beating the expectations of Wall Street analysts. In spite of the news, shares ... Read More...
Tencent Music Halves IPO to $2 Billion

Tencent Prevails Against NetEase in Jay Chou Copyright Infringement Lawsuit

Colin Cohen
November 11, 2019
Tencent Music Entertainment has prevailed in its copyright infringement case against NetEase Cloud Music over the latter's unlicensed use of Jay Chou's songs. A Chinese court in the city of Shenzhen has orde... Read More...
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