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Tencent Music posts growth from music subscriptions in Q4, FY 2019

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

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Billboard honors streaming, radio executives with Digital Power Players list

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

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Tencent Music and a buyout fund emerge as first possible buyers for Universal Music Group stake

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

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Amper Music launches AI music composition service and API partnership with Tencent Music

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