Who is Tencent Music? And are they really more valuable than Spotify?

Tencent Music covers more than half of the overall online music streaming market share in China. The music firm operates QQ Music, Kugou app, Kuwo app and a music copyright unit which holds around half of the copy-righted music libraries in China. And they are finalizing talks with investment banks to pursue an initial public offering that would value the firm at $10 billion.

Tencent Music Entertainment Group is a subsidiary of Chinese technology investment giant Tencent Holdings Ltd. Last year, Tencent bought a majority stake in China Music Corp. powering the streaming giant. 

Here are a few articles to digest. If this progresses, it will make headlines soon and will significantly affect the valuation of Spotify.

China Money Network

Dealstreet Asia

 

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About the author

Mike Dias is a Sales Director for Logitech. He specializes in consumer electronics & pro audio with an expertise in headphones & portable audio. He has over 15 years of experience selling custom handcrafted in-ear monitors.

View all articles by Mike Dias