Tencent Music Entertainment Group, the Chinese answer to Spotify that Tencent spun out and floated on the New York Stock Exchange in December, reported a net loss of 876 million yuan ($127 million) in its first set of quarterly results since going public. The loss, which TME forecasted in its prospectus filed ahead of the IPO, […]
View More Spotify rival Tencent Music posts maiden quarter loss of $130M on one-off costsCategory: tencent music
Spotify rival Tencent Music posts maiden quarter loss of $130M on one-off costs
Tencent Music Entertainment Group, the Chinese answer to Spotify that Tencent spun out and floated on the New York Stock Exchange in December, reported a net loss of 876 million yuan ($127 million) in its first set of quarterly results since going public. The loss, which TME forecasted in its prospectus filed ahead of the IPO, […]
View More Spotify rival Tencent Music posts maiden quarter loss of $130M on one-off costsChina’s Tencent Music raises $1.1 billion in downsized US IPO
Tencent Music, China’s largest streaming company, has raised $1.1 billion in a U.S. IPO after it priced its shares at $13 a piece ahead of a listing on the Nasdaq. That makes it one of the largest tech listings of the year, but the pricing is at the bottom end of its $13-$15 range indicating […]
View More China’s Tencent Music raises $1.1 billion in downsized US IPOTencent Music sued by investor ahead of $1.2 billion US IPO
China’s largest music streaming service has had a whirlwind year. With 800 million monthly users across multiple apps and a profitable business, Tencent Music Entertainment is gearing up for one of this year’s most anticipated initial public offerings in the US. But the firm has landed in hot water in the months leading up to […]
View More Tencent Music sued by investor ahead of $1.2 billion US IPOJioSaavn becomes India’s answer to Spotify and Apple Music
India finally has its answer to Spotify after Reliance Jio merged its music service with Saavn, the startup it acquired earlier this year. The deal itself isn’t new — it was announced back in March — but it has reached its logical conclusion after two apps were merged to create a single entity, JioSaavn, which is […]
View More JioSaavn becomes India’s answer to Spotify and Apple MusicWhy Oath keeps Tumblring
I dig on my employer Oath, and then Tencent Music notes and a major loss for the NYC ecosystem and what it means for open source. TechCrunch is experimenting with new content forms. This is a rough draft of something new – provide your feedback directly to the author (Danny at danny@techcrunch.com) if you like […]
View More Why Oath keeps TumblringChina’s NetEase raises $600M for its music streaming business
As Tencent Music, China’s largest streaming firm, reportedly stalls on its proposed U.S. IPO, one of its closest challengers is doubling down. NetEase Cloud Music, a rival operated by games and publishing giant NetEase, just closed a fresh $600 million injection from a bevy of investors that include Baidu and General Atlantic, the company announced […]
View More China’s NetEase raises $600M for its music streaming businessTencent Music, China’s largest streaming service with 800M users, files for US IPO
This year has seen a number of tech companies that are majority or substantially owned by Chinese giant going public in the U.S. Baidu’s iQiyi service, Xiaomi-backed Huami and Viomi are a few examples, and now Tencent Music — the music division of Tencent, as you can guess — is making its run after plenty of […]
View More Tencent Music, China’s largest streaming service with 800M users, files for US IPOThe war over music copyrights
VC firms haven’t been the only ones raising hundreds of millions of dollars to invest in a booming market. After 15+ years of being the last industry anyone wanted to invest in, the music industry is coming back, and money is flooding in to buy up the rights to popular songs. As paid streaming subscriptions […]
View More The war over music copyrightsChina’s largest music streaming business is planning a US IPO
Fresh from Spotify’s unique direct listing in the U.S., another huge streaming service is about to follow suit and go public in America. Tencent Music Entertainment (TME) has nothing like the global profile of Spotify, but China’s top streaming service is heading for the U.S. public markets according to a filing made this weekend by […]
View More China’s largest music streaming business is planning a US IPOTencent Music, Spotify’s strategic partner in China, is valued at over $12B
Spotify has finally filed to go public, and in doing so the Swedish company has shed light on another huge music company that has been tipped for IPO — Tencent Music — which is now valued at over $12 billion.
Tencent and Spotify announced a share swap in December that saw each side take an undisclosed slice of the other for strategic purposes going forward. According to… Read More