https://www.scmp.com/rss/518202/feed 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. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Alyssa Chen Alyssa Chen While K-pop has conquered almost every corner of the globe, South Korea’s entertainment industry remains largely locked out of the Chinese market due to a geopolitical chill that has lingered for a decade. China unofficially banned South Korean entertainment products in 2016 after Seoul deployed the US Terminal High Altitude Area Defence system (THAAD) despite Beijing’s objections. K-pop concerts were cancelled, South Korean dramas disappeared from Chinese streaming platforms, and South Korean... https://www.scmp.com/news/china/diplomacy/article/3344205/k-pops-big-freeze-are-cracks-chinas-cultural-blockade-thaw?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3344205/k-pops-big-freeze-are-cracks-chinas-cultural-blockade-thaw?utm_source=rss_feed Sat, 21 Feb 2026 22:00:14 +0000 Cao Li Cao Li Singapore’s Temasek Holdings, one of the world’s largest sovereign wealth funds, opened positions in two of China’s leading autonomous driving companies in the third quarter of this year. The state-owned company bought about 1.4 million shares of WeRide and 14,500 shares of Pony.ai in the September quarter, according to its 13F filings released on Friday. The total value of the shares was around US$13.7 million. Temasek has a history of investing in autonomous driving companies. These included... https://www.scmp.com/business/china-business/article/3332916/singapores-temasek-invests-weride-ponyai-boost-china-tech-holdings?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3332916/singapores-temasek-invests-weride-ponyai-boost-china-tech-holdings?utm_source=rss_feed Sat, 15 Nov 2025 07:09:38 +0000 Wency Chen Wency Chen Tencent Music Entertainment Group, China’s largest online music platform by user count, announced on Tuesday its acquisition of audio content platform Ximalaya for about US$2.4 billion in cash and stock. The Tencent Holdings subsidiary will offer US$1.26 billion in cash and up to 5.2 per cent of its total outstanding class A ordinary shares. It will also issue up to 0.37 per cent of its shares to Ximalaya’s founding investors. As part of the deal, Ximalaya will restructure certain existing... https://www.scmp.com/tech/big-tech/article/3313901/tencent-music-buy-ximalaya-audio-app-used-300-million-users?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3313901/tencent-music-buy-ximalaya-audio-app-used-300-million-users?utm_source=rss_feed Tue, 10 Jun 2025 13:26:11 +0000 Bloomberg Bloomberg Tencent Holdings is snapping up a nearly 10 per cent stake in SM Entertainment valued at about US$180 million, marking a rare Chinese investment into a South Korean company in recent years. Shenzhen-based Tencent will buy the stake from K-pop band BTS’ management agency Hybe, which is selling its remaining 2.2 million shares in SM Entertainment at 110,000 won (US$80.34) each, a 15.3 per cent discount to Tuesday’s close, according to a regulatory filing. The move comes as Beijing is widely... https://www.scmp.com/tech/big-tech/article/3312014/tencent-buys-bts-agency-hybes-stake-sm-entertainment-ahead-china-lifting-k-pop-ban?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3312014/tencent-buys-bts-agency-hybes-stake-sm-entertainment-ahead-china-lifting-k-pop-ban?utm_source=rss_feed Tue, 27 May 2025 12:31:48 +0000 Iris Deng,Ann Cao Iris Deng,Ann Cao Tencent Holdings saw profits jump 82 per cent in the second quarter, beating analyst estimates, on the back of new video gaming growth and improved advertising performance. Profit reached 47.6 billion yuan (US$6.6 billion) for the quarter ended June, up from 26.2 billion yuan in the same period a year ago. Total revenue for the Hong Kong-listed firm reached 161.1 billion yuan, up 8 per cent year on year from 149 billion yuan. Analysts expected 40.3 billion yuan in profit and 161.3 billion yuan... https://www.scmp.com/tech/big-tech/article/3274455/tencent-profit-jumps-82-beating-estimates-after-strong-video-gaming-ad-growth?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3274455/tencent-profit-jumps-82-beating-estimates-after-strong-video-gaming-ad-growth?utm_source=rss_feed Wed, 14 Aug 2024 08:51:11 +0000 Ping-An (Insurance) Group-backed Chinese online lender Lufax Holdings has applied to list in Hong Kong, joining other US-listed Chinese companies seeking a float closer to home despite the lower risk of delisting following progress on an auditing impasse between China and the United States. The fintech company, which is based in Shanghai and is listed on the New York Stock Exchange (NYSE), has filed to list through introduction, which means it will not be raising additional funds or issuing new... https://www.scmp.com/business/banking-finance/article/3208868/ping-backed-fintech-lender-lufax-follows-footsteps-nio-and-tencent-music-applies-hong-kong-dual?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3208868/ping-backed-fintech-lender-lufax-follows-footsteps-nio-and-tencent-music-applies-hong-kong-dual?utm_source=rss_feed Thu, 02 Feb 2023 09:15:17 +0000 Tencent Music Entertainment Corp beat analyst estimates for third-quarter revenue and profit, boosted by a recovery in advertising sales and an increase in the number of paying users on the Chinese music streaming company’s platform. Excluding items, the company earned 86 yuan (US$12) per American depository share (ADS), above expectations for a profit of 71 yuan per ADS, it said in its quarterly earnings announcement. Total revenue, however, was nearly 6 per cent lower year on year, amid an... https://www.scmp.com/tech/big-tech/article/3199783/more-ads-paying-users-help-chinas-tencent-music-beat-third-quarter-estimates?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3199783/more-ads-paying-users-help-chinas-tencent-music-beat-third-quarter-estimates?utm_source=rss_feed Wed, 16 Nov 2022 04:08:02 +0000 Tencent Music Entertainment Group (TME) rose in Hong Kong when its shares began trading in Asia’s third-largest capital market, as investors piled into China’s largest online music platform operator owned by Tencent Holdings and backed by Spotify. TME’s shares began trading at HK$18 each under the 1698 stock code and closed at HK$18.22 in Hong Kong trading. That’s 1.3 per cent above the company’s American depositary shares or ADSs, which last traded at US$4.58 (HK$35.95) in New York on Tuesday.... https://www.scmp.com/business/banking-finance/article/3193233/tencent-music-shares-rise-hong-kong-debut-asias-third?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3193233/tencent-music-shares-rise-hong-kong-debut-asias-third?utm_source=rss_feed Wed, 21 Sep 2022 03:41:07 +0000 Buyers of digital collectibles released by Tencent Holdings’ music unit are said to be seeking refunds for purchases of these quasi non-fungible token (NFT) products, amid claims that it has become harder for users to access their goods amid a broad market slump. Some users of QQ Music, a music streaming app operated by Tencent Music Entertainment Group (TME), said in several posts shared on the app that they wanted a refund for their NFTs, with many saying it had become difficult for them to... https://www.scmp.com/tech/big-tech/article/3193153/buyers-tencent-music-digital-collectibles-ask-refunds-hype-cools-and?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3193153/buyers-tencent-music-digital-collectibles-ask-refunds-hype-cools-and?utm_source=rss_feed Tue, 20 Sep 2022 12:00:12 +0000 Tencent Music Entertainment Group is pushing ahead with plans to seek a secondary listing in Hong Kong, joining other US-listed Chinese firms in hedging against the risk of delisting from American exchanges. The New York Stock Exchange (NYSE)-listed company – which is controlled by Chinese social media giant Tencent Holdings and is backed by Swedish audio streaming firm Spotify – has proposed the listing of its class A ordinary shares by way of introduction on the main board of the Hong Kong... https://www.scmp.com/business/banking-finance/article/3192568/spotify-backed-online-music-platform-tencent-music-go?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3192568/spotify-backed-online-music-platform-tencent-music-go?utm_source=rss_feed Thu, 15 Sep 2022 06:05:17 +0000 Tencent Music Entertainment said it is pursuing a secondary listing in Hong Kong, as the music streaming unit of China’s largest games publisher joins the flurry of New York-listed Chinese companies seeking safe haven from the looming risk of expulsion from US capital markets. The Shenzhen-based company said it would list its American Depositary Receipts (ADRs) in Hong Kong by “introduction” – a process that makes them tradeable without raising new capital – to provide shareholders with “greater... https://www.scmp.com/tech/big-tech/article/3171371/tencent-music-seeks-quicker-route-list-hong-kong-joining-exodus-new?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3171371/tencent-music-seeks-quicker-route-list-hong-kong-joining-exodus-new?utm_source=rss_feed Tue, 22 Mar 2022 10:00:17 +0000 China’s antitrust regulator is poised to order the music streaming arm of Tencent Holdings to give up exclusive rights to music labels, two people with direct knowledge of the matter said on Monday. The penalty, plus a 500,000 yuan (US$77,150) fine for misreporting the acquisition of two apps, is the culmination of an investigation by the State Administration of Market Regulation (SAMR) into Tencent Music Entertainment Group, China’s dominant music streaming company, the people told Reuters. In... https://www.scmp.com/tech/big-tech/article/3140753/china-antitrust-tencent-music-will-have-give-music-label-exclusivity?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3140753/china-antitrust-tencent-music-will-have-give-music-label-exclusivity?utm_source=rss_feed Mon, 12 Jul 2021 06:04:32 +0000 Goldman Sachs liquidated US$10.5 billionworth of stocks in block trades on Friday, part of an extraordinary spree of selling that erased US$35 billion from the values of bellwether stocks ranging from Chinese technology giants to US media conglomerates. The Wall Street bank sold US$6.6 billion worth of shares of Baidu, Tencent Music Entertainment Group and Vipshop Holdings before the market opened in the US, according to an email to clients seen by Bloomberg News. That move was followed by the... https://www.scmp.com/business/banking-finance/article/3127302/goldman-sold-us105-billion-stocks-block-trades-hitting?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3127302/goldman-sold-us105-billion-stocks-block-trades-hitting?utm_source=rss_feed Sun, 28 Mar 2021 00:33:12 +0000 China’s antitrust authority has suspended a probe of Tencent Music Entertainment Group’s dealings with the world’s three largest record labels, according to people familiar with the matter, lifting a cloud hanging over that country’s dominant music streaming company. The State Administration of Market Regulation told Tencent Music and the record labels in January that it had paused the investigation, which began in January 2019, according to the people, who asked not to be identified because the... https://www.scmp.com/tech/chinese-investigators-pause-tencent-music-antitrust-probe/article/3049369?utm_source=rss_feed https://www.scmp.com/tech/chinese-investigators-pause-tencent-music-antitrust-probe/article/3049369?utm_source=rss_feed Thu, 06 Feb 2020 14:16:03 +0000 China’s antitrust authority has suspended a probe of Tencent Music Entertainment Group’s dealings with the world’s three largest record labels, according to people familiar with the matter, lifting a cloud hanging over that country’s dominant music streaming company. The State Administration of Market Regulation told Tencent Music and the record labels in January that it had paused the investigation, which began in January 2019, according to the people, who asked not to be identified because the... https://www.scmp.com/tech/apps-social/article/3049258/tencent-music-antitrust-probe-suspended-china-authorities-amid?utm_source=rss_feed https://www.scmp.com/tech/apps-social/article/3049258/tencent-music-antitrust-probe-suspended-china-authorities-amid?utm_source=rss_feed Thu, 06 Feb 2020 01:42:06 +0000 Tencent Music Entertainment Group is under investigation by China’s antitrust authority in a review that could end exclusive licensing deals it forged with the world’s biggest record labels, people familiar with the matter said.   The State Administration of Market Regulation launched the probe in January and is scrutinizing the Shenzhen-based company’s dealings with music labels including Universal Music Group, Sony Music Entertainment and Warner Music Group Corp., the people said, asking not... https://www.scmp.com/big-guns/antitrust-authorities-are-investigating-tencent-music/article/3024532?utm_source=rss_feed https://www.scmp.com/big-guns/antitrust-authorities-are-investigating-tencent-music/article/3024532?utm_source=rss_feed Tue, 27 Aug 2019 09:37:01 +0000 China’s Tencent Music Entertainment Group beat Wall Street estimates for quarterly profit on Monday, as more users paid for its music streaming services. The company, controlled by Chinese tech giant Tencent Holdings, said paid users of its online music service jumped 27.4 per cent to 28.4 million in the first quarter ended March 31. “As our users increasingly consume music content through streaming services, we are riding on this trend to gradually transition into a pay-for-streaming model over... https://www.scmp.com/tech/apps-social/article/3010085/tencent-music-profit-beats-estimates-paid-subscribers-continue?utm_source=rss_feed https://www.scmp.com/tech/apps-social/article/3010085/tencent-music-profit-beats-estimates-paid-subscribers-continue?utm_source=rss_feed Tue, 14 May 2019 01:21:21 +0000 Smartphone giant Xiaomi and online video platform Iqiyi are among a dozen listed companies to be added to MSCI’s benchmark Chinese equities gauge, the global index compiler announced on Monday. The inclusion of the stocks in the MSCI China Index at the end of February is likely to benefit them in the long term because they may attract global funds that track such indexes, said analysts. MSCI claims to serve “99 of the top 100 largest money managers”. “Those funds will not buy and sell frequently... https://www.scmp.com/business/markets/article/2185804/smartphone-giant-xiaomi-tencent-music-among-dozen-stocks-be-added?utm_source=rss_feed https://www.scmp.com/business/markets/article/2185804/smartphone-giant-xiaomi-tencent-music-among-dozen-stocks-be-added?utm_source=rss_feed Tue, 12 Feb 2019 05:25:03 +0000 Tencent Music Entertainment Group, the music streaming spin-off of China’s biggest social network operator Tencent Holdings, rose in its trading debut on the New York Stock Exchange on Wednesday, as investors shrugged off a recent wobble for global tech stocks amid a US-China trade war and slowing growth. Shares of the Chinese music streaming service traded as high as US$14.75 in first 10 minutes of trading, before easing slightly to close up 7.7 per cent at US$14 as investors grabbed the... https://www.scmp.com/tech/big-tech/article/2177735/tencent-music-jumps-new-york-debut-investors-pour-despite-global-tech?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/2177735/tencent-music-jumps-new-york-debut-investors-pour-despite-global-tech?utm_source=rss_feed Thu, 13 Dec 2018 02:14:10 +0000 Tencent Music Entertainment Group, the music industry spin-off of China’s biggest social network operator Tencent Holdings, priced its shares at the lower end of expectations for its initial public offering in New York amid ongoing global market volatility. Tencent Music, one of the most anticipated IPOs of the year, priced its stock at US$13 per American Depositary Receipt (ADR), at the bottom of a US$13 to US$15 range, according to a filing by Tencent to the Hong Kong stock exchange on... https://www.scmp.com/tech/big-tech/article/2177560/tencent-music-prices-us-ipo-lower-end-expectations-amid-tech-and-trade?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/2177560/tencent-music-prices-us-ipo-lower-end-expectations-amid-tech-and-trade?utm_source=rss_feed Wed, 12 Dec 2018 03:22:30 +0000 An executive of Tencent Music Entertainment Group, the music industry spin-off of China’s biggest social network operator Tencent Holdings, faces an accusation of defrauding and coercing an early investor to sell his equity stake, ahead of the company’s planned initial public offering on Wednesday in the US. Chinese investor Guo Hanwei claimed that Xie Guomin, co-president of Tencent Music Entertainment, “used misinformation, threats and intimidation” in 2013 to force the investor to sell his... https://www.scmp.com/tech/tech-leaders-and-founders/article/2177284/tencent-music-executive-sued-fraud-ahead-us12-billion?utm_source=rss_feed https://www.scmp.com/tech/tech-leaders-and-founders/article/2177284/tencent-music-executive-sued-fraud-ahead-us12-billion?utm_source=rss_feed Mon, 10 Dec 2018 09:54:40 +0000 Tencent Music Entertainment launched its hotly-anticipated US initial public offering (IPO) of up to US$1.2 billion on Monday after global stock markets were boosted by a truce brokered by US and Chinese leaders in their trade conflict. The music arm of tech giant Tencent Holdings is looking to raise between US$1.07 billion and US$1.23 billion in a New York Stock Exchange IPO, according to a filing with the US Securities and Exchange Commission. The company originally planned to launch its... https://www.scmp.com/tech/tech-leaders-and-founders/article/2176232/chinas-tencent-music-presses-play-us12-billion-us-ipo?utm_source=rss_feed https://www.scmp.com/tech/tech-leaders-and-founders/article/2176232/chinas-tencent-music-presses-play-us12-billion-us-ipo?utm_source=rss_feed Tue, 04 Dec 2018 01:32:12 +0000 Tencent Music Entertainment Group, China’s biggest music-streaming company, is set to postpone an initial public offering in the US amid current market turmoil, according to a report by The Wall Street Journal.  The online-music arm of China’s largest social-media company, which filed for an IPO on October 2, met with its underwriting team this week and they opted to delay until at least November amid concerns the market rout would affect pricing, a person familiar with the situation told The... https://www.scmp.com/tech/article/2168260/tencent-music-said-delay-us-listing-because-stock-market-turmoil?utm_source=rss_feed https://www.scmp.com/tech/article/2168260/tencent-music-said-delay-us-listing-because-stock-market-turmoil?utm_source=rss_feed Fri, 12 Oct 2018 05:49:43 +0000 Tencent Music Entertainment Group, the online-music arm of China’s largest social-media company, filed for a US 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. The amount is likely a place holder and may change. Tencent Music is preparing to sell shares after its parent company grapples with restrictions on game approvals in China. Tencent restructures with eye on industrial internet as... https://www.scmp.com/business/china-business/article/2166722/chinese-streaming-music-giant-tencent-music-files-us1?utm_source=rss_feed https://www.scmp.com/business/china-business/article/2166722/chinese-streaming-music-giant-tencent-music-files-us1?utm_source=rss_feed Tue, 02 Oct 2018 18:17:16 +0000 Tencent Music, which owns China’s most popular music streaming apps, is often compared to Sweden’s Spotify Technology but it offers more in the way of socially interactive services that is helping it hit bigger notes in money making. The company, majority owned by Chinese tech powerhouse Tencent Holdings and slated for a US IPO next month, made almost $400 million in earnings before interest and taxes in 2017, according to an investor document circulated in August that was seen by Reuters. Those... https://www.scmp.com/tech/article/2166093/tencent-music-bound-us-ipo-profits-socially-savvy-and-tipping-model?utm_source=rss_feed https://www.scmp.com/tech/article/2166093/tencent-music-bound-us-ipo-profits-socially-savvy-and-tipping-model?utm_source=rss_feed Fri, 28 Sep 2018 01:47:19 +0000 Tencent Music Entertainment Group, China’s biggest music-streaming company, is seeking to raise about US$2 billion in a US listing, according to three people close to the deal, down from the up to US$4 billion that had been touted earlier. The subsidiary of Chinese tech giant Tencent Holdings filed confidentially with the US Securities and Exchange Commission (SEC) two weeks ago, three people with knowledge of the matter said, in what will be one of the biggest listings in New York by a Chinese... https://www.scmp.com/tech/article/2164845/chinas-tencent-music-halves-us-ipo-us2-billion-report-says?utm_source=rss_feed https://www.scmp.com/tech/article/2164845/chinas-tencent-music-halves-us-ipo-us2-billion-report-says?utm_source=rss_feed Wed, 19 Sep 2018 07:27:34 +0000 Tencent, the Chinese social media and gaming juggernaut, has proposed to spin-off its online music streaming business Tencent Music for a separate listing in the US, which could also profit Spotify, an investor in Tencent Music and its strategic partner in China. Tencent plans to spin-off its majority-owned Tencent Music Entertainment Group and list it separately in the US, Tencent said in a filing to the Hong Kong stock exchange on Sunday evening. The Hong Kong exchange has confirmed that the... https://www.scmp.com/business/companies/article/2154323/tencent-spin-online-music-unit-tencent-music-us-listing?utm_source=rss_feed https://www.scmp.com/business/companies/article/2154323/tencent-spin-online-music-unit-tencent-music-us-listing?utm_source=rss_feed Sun, 08 Jul 2018 21:19:00 +0000 The Beatles have made their streaming debut on Tencent Music in China. Users of Tencent Music and three of its platforms, QQ Music, KuGou and Kuwo, are able to listen to selected songs from 28 Beatles albums for free, with others available with a subscription. The service was available since March 22 and a check showed songs like My Bonnie, Get on the Right Track Baby can be streamed for free.  Tencent Music will also launch five documentaries about the London group spread over five weeks as... https://www.scmp.com/tech/article/2138582/tencent-music-streams-beatles-albums-path-ipo?utm_source=rss_feed https://www.scmp.com/tech/article/2138582/tencent-music-streams-beatles-albums-path-ipo?utm_source=rss_feed Fri, 23 Mar 2018 06:15:45 +0000 [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... https://www.scmp.com/presented/news/hong-kong/education/topics/hkust-biz-school-magazine/article/2127252/tencent-music?utm_source=rss_feed https://www.scmp.com/presented/news/hong-kong/education/topics/hkust-biz-school-magazine/article/2127252/tencent-music?utm_source=rss_feed Mon, 08 Jan 2018 08:12:54 +0000 Tencent’s music arm and Swedish music-streaming company Spotify are in talks to swap stakes of up to 10 per cent ahead of both companies’ public listings next year, according to a report by The Wall Street Journal on Friday. The deal would align Tencent Music and Spotify in future licensing negotiations with major music labels, the report said, citing unnamed sources. As Spotify has a higher valuation than Tencent Music, that latter would make up the difference in cash so that each company would... https://www.scmp.com/tech/china-tech/article/2122604/tencent-music-and-spotify-talks-swap-stakes-ahead-public-listings?utm_source=rss_feed https://www.scmp.com/tech/china-tech/article/2122604/tencent-music-and-spotify-talks-swap-stakes-ahead-public-listings?utm_source=rss_feed Sat, 02 Dec 2017 12:27:27 +0000