TOPIC

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Tencent Music

Tencent Music Entertainment is the largest online music platform in China. Its apps KuGou, QQ and Kuwo are considered the three most popular music-streaming apps in China. Swedish music-streaming giant Spotify is its largest shareholder.

Chairman / President

Cussion Kar Shun Pang

CEO / Managing Director

Zhu Liang

CFO / Finance Director

Min Hu

Industry

Music/Entertainment

Website

tencentmusic.com

Headquarters address

Tencent Music Entertainment Group,Tencent Building,30th Floor, Kejizhongyi Avenue,Nanshan, Shenzhen,Guangdong, China

Stock Code

NYSE:TME

Year founded

2016

last updated:

30 September, 2024

Tencent

Tencent profit jumps 82% on back of strong video gaming, ad growth

Tencent’s profit grew to US$6.6 billion in the second quarter, while revenue rose 8 per cent to US$22.5 billion.

14 Aug 2024 - 9:30PM

Banking & finance

Lufax latest US-listed Chinese firm to apply for Hong Kong listing through introduction

2 Feb 2023 - 5:15PMvideocam

Tencent

More ads, paying users help China’s Tencent Music beat third quarter estimates

16 Nov 2022 - 12:08PM

IPO

Tencent Music rises in Hong Kong as city stirs from listing slump

The positive response to Tencent Music’s listing is a shot of confidence for the growing queue of Chinese companies that are seeking a sanctuary closer to home amid rising US-China tension.

21 Sep 2022 - 4:35PM

Tencent Music Entertainment Group’s Executive Chairman Cussion Pang Kar-shun (right) and Chief Strategy Officer Tony Yip Cheuk-tung (left) struck the ceremonial gong at the Hong Kong stock exchange to mark the trading debut of their company on 21 September 2022. Photo: Handout

NFTs

Buyers of Tencent Music ‘digital collectibles’ ask for refunds

Some users of QQ Music, a music streaming app operated by Tencent Music Entertainment Group, said they wanted a refund for their NFTs.

20 Sep 2022 - 8:00PM

IPO

Spotify-backed Tencent Music to go ahead with secondary Hong Kong listing

The NYSE-listed company has proposed the listing of its class A ordinary shares by way of introduction on the main board of the Hong Kong stock exchange, according to exchange filings on Thursday.

15 Sep 2022 - 2:05PM

IPO

Tencent Music seeks a quick route to list in Hong Kong amid exodus

About 80 of the 250 US-listed Chinese companies, or 90 per cent of all ADR capitalisation, can satisfy the requirements for direct or secondary listings in Hong Kong, China Renaissance said in a January report.

22 Mar 2022 - 6:00PM

Tencent

China to order Tencent Music to give up music label exclusivity, sources say

China’s market watchdog continues its sweeping antitrust crackdown.

12 Jul 2021 - 10:09PM

China technology

Goldman sold US$10.5 billion of Chinese, US stocks in troubled fund mystery

Goldman Sachs sold stakes in Chinese technology giants and US media groups on Friday. sparking a US$35 billion slump in values. Reports speculated ‘forced deleveraging’ by investment banks with ties to Archegos Capital Management on margin calls.

29 Apr 2021 - 4:25PMvideocam

Tencent

Tencent Music antitrust probe suspended by China authorities

The authorities had been investigating Tencent’s licensing deals with the world’s three largest record labels, Universal Music Group, Sony Music Entertainment and Warner Music Group.

14 Feb 2020 - 5:48PM

Tencent

Tencent Music profit beats estimates as paid subscribers sign up

Unlike Western peers such as Spotify Technology, Tencent Music generates only a fraction of revenue from music subscription packages, relying on online karaoke

14 May 2019 - 9:21AM

Tencent Music Entertainment launches its IPO on the NYSE on Wednesday December 12. Photo: Xinyan Yu

MSCI

Xiaomi one of 12 stocks to be added to MSCI’s benchmark China gauge

Their inclusion is likely to benefit them in the long term because they may attract global funds that track such indexes, said analysts

12 Feb 2019 - 10:56PM

Tencent

Tencent Music hits the right note in New York debut

13 Dec 2018 - 10:04PMvideocam

Tencent

Tencent Music prices US IPO at lower end amid tech volatility

12 Dec 2018 - 10:43PM

Tencent

Tencent Music executive sued for fraud ahead of US$1.2 billion IPO

The accusations come ahead of the much-anticipated New York IPO for the music streaming service operator, which is the biggest in China

10 Dec 2018 - 5:54PM

Tencent

China’s Tencent Music presses play on US$1.2 billion US IPO

Valuation lower than anticipated US$2 billon but would still be one of the largest by a Chinese firm in the US this year.

4 Dec 2018 - 9:43AMvideocam

Tencent

Tencent Music said to delay US IPO amid market turmoil

12 Oct 2018 - 3:42PM

Tencent

Tencent Music files for US$1 billion initial public offering

The music-streaming site listed its offering size as US$1 billion in a filing Tuesday with the US Securities and Exchange Commission; platforms are becoming important vehicles for US pop stars such as Katy Perry and Rihanna to reach Chinese audiences.

3 Oct 2018 - 3:05AM

Tencent

Tencent Music, bound for US IPO, profits from socially savvy

28 Sep 2018 - 9:47AMvideocam

Tencent

China's Tencent Music seeks US$2 billion in US IPO

20 Sep 2018 - 6:30PM

Tencent

Tencent to spin-off online music unit Tencent Music for US listing

9 Jul 2018 - 5:18AM

Tencent

Beatles make streaming debut on Tencent Music in China

23 Mar 2018 - 2:13PM

Tencent Music last year signed a distribution and licensing agreement with Universal Music, including to build Abbey Road Studios China, inspired by the famous Beatles recording studio in London

HKUST Biz School Magazine - Spring 2018

Tencent Music: Let the Online Music Grow in a Sustainably Prosperous Way

[Sponsored Article] Parent company Tencent is a leading provider of Internet value added services in China, providing social platforms, such as the ubiquitous QQ (QQ Instant Messenger) and Weixin/WeChat, as well as the digital content services under the “Connection” Strategy. TME was created in 2016 to mainly manage the company’s three online streaming sites, QQ Music, Kugou, and Kuwo, amongst which, QQ Music is now the largest online streaming site in mainland China. Together, these three are the most popular music streaming services in the mainland, with around 700 million active monthly users, according to TME Vice President Dennis Hau. In addition, Hau says, TME’s WeSing online karaoke app has a total of 460 million registered users.

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HKUST Business School

Music

Tencent Music and Spotify in talks to swap stakes: report

2 Dec 2017 - 8:27PM

Tencent Music and Spotify are considering a share swap. Photo: EPA

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