Tencent Music

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
Tencent Music Entertainment Group
China Music Corporation
Public, Joint venture
Traded asNYSETME
PredecessorChina Music Corporation
Tencent's QQ Music division
FoundedJuly 2016; 4 years ago (2016-07)
HeadquartersShenzhen, China
ProductsQQ Music, Kugou, Kuwo
Number of employees
2,400[1] (2017)

Tencent Music Entertainment Group (TME) is a company that develops music streaming services for the Chinese market. This is a joint venture between Tencent and Spotify. Their apps, including QQ Music, Kugou, and Kuwo, have more than 700 million active users and 120 million paying subscribers.[2][3][4] As of July 2016, Tencent Music's three services held an estimated 56% market share of music streaming services in China.[5]


Tencent Music was created in July 2016, as a result of Tencent's purchase of China Music Corporation to strengthen its music offerings. [6] On July 4, 2018, Sony/ATV Music Publishing acquired an equity stake in Tencent Music.[7][8] In October 2018, the firm filed for IPOs of around $2 billion[9] in the United States.[10]

In December 2018, the company announced an IPO with the total value of shares around $1.23 billion, which includes 82 million ADS and 164 million regular shares priced around $13 - $15.[11]

46.6% of Tencent Music class A ordinary shares are owned by Spotify.[12]


  1. ^ "Tencent Music's Andy Ng talks China and expansion". Musically. 6 June 2018. Retrieved 8 July 2018.
  2. ^ "Tencent Music drowns out Spotify and Apple". Bloomberg News.
  3. ^ "Revealed: Billboard's 2017 Digital Power Players, Guiding the Future in Music and Tech". Billboard.
  4. ^ Lee, Pearl (27 June 2017). "Why China's music streaming is leading the world". Tech in Asia.
  5. ^ Soo, Zen (15 July 2016). "Tencent to merge QQ Music service with China Music Corp to create streaming giant". South China Morning Post. Retrieved 8 August 2018.
  6. ^ "Tencent spikes on music arm move". The Standard.
  7. ^ Sony/ATV Share Tencent IPO Profits with Songwriters oneedm.com, Retrieved on 11 August 2018
  8. ^ Sony/ATV owns a stake in Tencent Music Entertainment musicbusinessworldwide.com, Retrieved on 11 August 2018
  9. ^ Hughes, Jennifer. "Crunch time for Tencent Music's 2018 $2 billion IPO hopes". U.S. Retrieved 2018-11-21.
  10. ^ Farrell, Maureen; Steele, Anne (2018-10-02). "Tencent Music Files for U.S. IPO". Wall Street Journal. ISSN 0099-9660. Retrieved 2018-10-03.
  11. ^ "Tencent Music moving ahead with its $1.2B U.S. stock market debut". TechCrunch. Retrieved 2018-12-04.
  12. ^ MarketScreener. "SPOTIFY TECHNOLOGY SA : Shareholders Board Members Managers and Company Profile | LU1778762911 | MarketScreener". www.marketscreener.com. Retrieved 2019-07-07.