Tencent Music agrees to buy podcasting startup Ximalaya for $1.3B in cash, plus some stock, in a bid to become China's Spotify; Ximalaya had 303M MAUs in 2023
Bloomberg :
Sources: Tencent Music is in advanced talks to buy Chinese podcasting startup Ximalaya in a $2.4B deal
Bloomberg :
Source: Tencent Music, NetEase's Cloud Music, and others cut streaming features like virtual lucky draws at a hefty cost, amid China's online gambling crackdown
Josh Ye / Reuters :
China's antitrust authorities order Tencent Music to end its exclusive music licensing deals with global record labels within 30 days and impose a fine of ~$77K
- The State Administration for Market Regulation on Saturday ordered Tencent to give up its exclusive music licensing rights …
Sources: China to order Tencent Music to give up exclusive rights to music labels, and fine ~$77K for lapses in reporting the acquisitions of two streaming apps
China's antitrust regulator is set to order the music streaming arm of Tencent Holdings Ltd (0700.HK) to give up exclusive rights …
Employees at Tencent Music, Meituan, and other Chinese tech giants are expecting increased antitrust scrutiny and penalties after Alibaba's record $2.8B fine
Yuan Yang / Financial Times : Tweets: @davidinglestv and @yuanfenyang See also Mediagazer Tweets: David Ingles / @davidinglestv : Alibaba's record fine in context. $2.8 billion is large but not large...
Tencent Music acquires China-based Lazy Audio, a platform for audiobooks, podcasts, and radio shows, for $417M
(Reuters) - China's Tencent Music Entertainment Group said on Friday it acquired audiobook platform Lazy Audio, owned by Shenzhen Lanren Online Technology Co, for 2.7 billion yuan ($417 million).
Filing: Tencent took a 1.6% stake in Warner Music Group for $200M in Warner's IPO in separate transactions by two Tencent subsidiaries; shares now worth ~$250M
Chinese internet giant already had interests in Universal Music Group, Spotify — Tencent Holdings Ltd. TCEHY 1.56% took … Tweets: @somospostpc See also Mediagazer Tweets: Alex Barredo / @somospostpc...
In its first quarter since going public, Tencent Music posts net loss of $127M on $785M revenue, mainly due to a one-off share-based charge to label partners
Rita Liao / TechCrunch :
Chinese startups raised $69.4B in 2018, up 63% YoY as per CB Insights, but VCs have gotten more conservative after Chinese IPOs like Tencent Music disappointed
Thousands of private Chinese tech companies raised a record $69.4 billion in equity in 2018, but the volume of stock sales has dropped off sharply of late