Tencent Music Entertainment released its financial results for the fourth quarter and fiscal year of 2019. Tencent Music reversed its quarterly loss of 875 million yuan from Q4 2018 to a profit of 1.04 billion yuan ($149 million). The company said that for the quarter ending December 31, it had total revenue of 7.29 billion yuan ($1.05 billion), up 35.1% on-year. Continue Reading
The Chinese government may have given a reprieve to Tencent Music Entertainment. Sources familiar with the situation told Bloomberg that the State Administration of Market Regulation, China’s antitrust authority, has suspended its investigation into the company. Continue Reading
Billboard released its annual list of digital power players, a collection of the business leaders who are driving segments such as streaming and radio. Both industries had notable figures from businesses around the world, as well as from leading brands. Continue Reading
Tencent Music has reported its financial results for the third quarter. Total revenue rose 31% on-year to reach 6.51 billion yuan ($910 million). That figure included 1.85 billion yuan ($258 million) in revenue from online music services. Continue Reading
Two independent music distributors have entered a partnership with China’s Tencent Music Entertainment. The deal means that TuneCore and CD Baby can bring their clients’ work to audiences the huge Chinese audience. Continue Reading
A Chinese regulator is investigating the music industry deals made by Tencent Music Entertainment, according to Bloomberg. The country’s antitrust authority, the State Administration for Market Regulation, will review Tencent’s deals with the three majors as well as other labels. Continue Reading
Tencent Music Entertainment has released its financial results for the first quarter. Although it did beat out financial expectations, Wall Street still responded cautiously to the results. And there could be more uncertainty on the horizon for Tencent Music: Guomin Xie is stepping down from his role as co-president and director. Continue Reading
Tencent Music Entertainment released its financial results for the fourth quarter and fiscal year of 2018. “Our initial public offering in December 2018 has launched us onto the international stage, elevated the global recognition towards our brand, and endorsed our successful track record,” CEO Cussion Kar Shun Pang said. Continue Reading
Andy Ng has stepped down from his role as a group vice president of Tencent Music Entertainment. He is leaving the post for “personal reasons,” but will continue to provide advice to the company in a new role as group senior consultant. Continue Reading
One of the big music industry narratives this year will likely be the expected sale of up to a 50% stake in Universal Music Group. Two very different potential buyers have already emerged. Reuters reported that Tencent Music Entertainment and U.S. buyout fund KKR are each exploring bids for the major label. Continue Reading
Tencent Music Entertainment may have came stateside for its IPO, but the company is still keeping plenty of ties to its home country of China. The company recently made a strategic investment in Chinese streaming service Douban FM. Continue Reading
Amper Music, a company specializing in AI music creation, announced several developments yesterday. Its latest service is Amper Score, an end-to-end platform for music composition by artificial intelligence. Amper also announced that its API can be integrated into the tools and platforms of third-party companies. Continue Reading