The Ledger: Tencent Music Highlights Risks of Doing Business in China - ChinaTechNews.com
[Music News] The Ledger: Tencent Music Highlights Risks of Doing Business in China Doing business in China got tougher in 2021 after government agencies handed down new rules and levied fines against some well-known companies. For evidence this has made investing in Chinese companies more complicate
Stock Alert: Tencent Music Entertainment (TME) Up 7.37% in Pre-Market Trading for April 29
Tencent Music Entertainment Group - ADR (NYSE:TME) has already risen $0.3 in early trading Friday.
After closing the previous trading session at $4.07, Tencent Music Entertainment has moved 7.37% higher ahead of market open.
The company fell 2.16% over the last 5 days.
Today could shape up to be a busy day for Tencent Music Entertainment investors.
For technical charts, analysis, and more on Tencent Music Entertainment Group - ADR visit the company profile.
Pre-market prices and movements as of 08:27:35 est.
TencentMusic Entertainment Group is the leading online music entertainment platform in China, operating the country's highly popular and innovative music apps: QQ Music, Kugou Music, Kuwo Music and WeSing. TencentMusic's mission is to use technology to elevate the role of music in people's lives by enabling them to create, enjoy, share and interact with music. TencentMusic's platform comprises online music, online karaoke and music-centric live streaming services, enabling music fans to discover, listen, sing, watch, perform and socialize around music.
To get more information on Tencent Music Entertainment Group - ADR and to follow the company's latest updates, you can visit the company's profile page here: Tencent Music Entertainment Group - ADR's Profile. For more news on the financial markets be sure to visit Equities …
NetEase Cloud Music Sues Tencent Music – China's DSPs Face-Off - Digital Music News
China’s two largest DSPs are fighting. NetEase Cloud Music has sued Tencent Music. Here’s what we know. NetEase’s Cloud Music has sued Tencent Music Entertainment, accusing the latter of unfair competition. It also claims that Tencent Music plagiarized its app design. The two Chinese DSPs are now l
Tencent Music Adds International Distribution Option For Artists
Earlier this month, TikTok owner ByteDance debuted a music streaming service called Qishui Yinyue in China. Now, amid continued legal hurdles and enhanced competition, Tencent Music (NYSE: TME) is zeroing in on the international market with the rollout of a global distribution service.
Tencent Music Entertainment (TME) – which operates QQ Music, Kugou, Kuwo, and a karaoke app called WeSing – unveiled the global distribution option, “One-Click For All,” via a formal release that was emailed to DMN.
As its name suggests, the just-revealed distribution tool enables creators on the Tencent Musician service “to distribute musical works, with one single click, to over 150 popular global platforms.” Said platforms include Apple Music, YouTube, and Spotify, TME relayed, and reach listeners in “more than 200 countries and regions.”
Tencent Music also communicated that it will provide participating musicians (TME’s Tencent Musician community encompassed 300,000 indie artists as of Q4 2021) with an International Standard Recording Code (ISRC) for free. These professionals will then receive “up to 70%” of their income from the global distribution tool “after subtracting the service fee,” higher-ups indicated.
As noted at the outset, Tencent Music’s pivot to the international music market arrives as heightened competition from ByteDance’s streaming platform as well …
Believe renews deals with NetEase Cloud Music and Tencent Music Entertainment
Paris-headquartered music company Believe has inked renewed deals with Chinese music platforms Tencent Music Entertainment (TME) and its rival NetEase Cloud Music.
In a media statement announcing the agreements, Believe says that it’s “been a long-term partner of both platforms from early stages and the renewed deals will result in wider opportunities to develop its local and international artists on the platforms”.
Tencent Music Entertainment (TME) operates music and music-centric social entertainment services with over 800 million users, through mobile apps like QQ Music, Kugou Music, Kuwo Music and WeSing.
Tencent Music reached 76.2 million paying users in Q4 2021 (ended December 31), up by 36.1% year-over-year.
NetEase Cloud Music, meanwhile, ended 2021 with 182.6 million MAUs, up from 180.5 million in 2020.
The service also had 28.9 million monthly paying users at the end of 20121, up from 16 million for the same period of 2020.
Believe has been operating in China since 2016, and says it was “one of the first international companies to sign distribution deals with local platforms”. It adds that it “accelerated massively its investment [in China] in 2018 as the market matured”.
Believe says that it now represents thousands of artists and hundreds of labels locally.
The company claims further to have …
As part of its strong growth strategy in China, Believe renewed its deals with two leading ...
As part of its strong growth strategy in China, Believe renewed its deals with two leading digital players, NetEase Cloud Music and Tencent Music Entertainment
Paris, France – Thursday, 28 April 2022. Believe, one of the world’s leading digital music companies, announces the renewal of its deals with Chinese digital platforms Tencent Music Entertainment (TME) and NetEase Cloud Music, thus strengthening the wide range of services it provides to its labels and artists locally.
Believe has been a long-term partner of both platforms from early stages and the renewed deals will result in wider opportunities to develop its local and international artists on the platforms, notably as Believe became one of the first companies to make available daily streams statistics from TME and NetEase Cloud Music, thus allowing its labels and artists to monitor their performance on the platforms in real time.
Sylvain Delange, Managing Director, APAC at Believe, said, “We are thrilled to have renewed our deals with both TME and NetEase Cloud Music. China is one of the most domestic music markets in the world, with a strong consumption of local artists, by local audiences on local platforms, which could not be more aligned with Believe’s vision and core values of …
After TikTok and SoundCloud, Tencent Music is a distributor now too
There’s been a growing trend over the past couple of years of music streaming services becoming agnostic music distributors.
This arguably started with SoundCloud in 2019, when it launched a distribution feature that enabled artists to distribute their music to a range of rival streaming services. The following year, it launched a marketing and distribution platform for “serious artists who want to take their career to the next level”.
And just last month, ByteDance-owned viral video app TikTok launched its own promotion and music distribution platform, called SoundOn.
Now, Tencent Music Entertainment, the owner of China’s largest music streaming services, has become one of the industry’s newest global music distributors.
TME’s new service, dubbed “One-Click For All”, enables independent musicians registered to its Tencent Musician Platform to distribute their music to over 150 platforms globally, including Spotify, YouTube, Apple Music and others.
The Tencent Musician Platform is an indie artist initiative previously known as ‘Tencent Musician Program’. It was launched in 2017, and by the end of 2021, the number of registered musicians on the program reached more than 300,000.
Tencent Music, majority owned by Chinese tech giant Tencent Holdings, runs music apps in China including its flagship music platform QQ Music, as well as Kugou, …
Tencent Musician Platform Introduces Service to Further Promote Chinese Music Overseas
SHENZHEN, China, April 27, 2022 /PRNewswire/ -- Tencent Music Entertainment Group ("TME", or the "Company") (NYSE: TME), the leading online music and audio entertainment platform in China, today announced a new service on the Tencent Musician Platform to support Chinese musicians with international development, and to enhance global discovery of Chinese music, by assisting with overseas promotion and distribution.
The new service, "One-Click For All", enables musicians on Tencent Musician Platform to distribute musical works, with one single click, to over 150 popular global platforms, which include Spotify, KKBOX, YouTube, Apple Music, and others that cover audiences around the world in more than 200 countries and regions. The distribution process will take seven working days to complete. In order to improve catalog management and copyright protection, TME will provide musicians with International Standard Recording Code (ISRC) for free, which is an identification number for music recording. In addition, musicians will have financial incentives. Every quarter, artists will receive income generated from overseas distribution equal to up to 70% of the total, after subtracting the service fee.
To date, Tencent Musician Platform has successfully helped distribute and promote more than 150,000 musical works on overseas streaming platforms, expanding the listener base by 3900%. …
NetEase's Cloud Village Sues Rival Tencent Music Again Citing Unfair Competition - Caixin Global
With 185 million monthly active users, Cloud Village had a 20.5% share of China’s music streaming market last year, far behind Tencent Music’s 72.8%.
The long-running head-to-head battle between China’s two biggest online music platforms has intensified, again.
NetEase’s music unit Cloud Village sued Tencent Music Entertainment, accusing it of unfair competition and plagiarizing its app design, the company said Wednesday. Cloud Village didn’t respond to a Caixin inquiry on where the lawsuit was filed.
The defendants also include Tencent’s music platforms QQ Music, Kugou Music, Kuwo Music and online karaoke service WeSing. In a 3,000-word statement filled with photographic documentation, Cloud Village accused the apps of maliciously infringing its copyrights, repeatedly copying its product designs and functions and resisting against rectification.
NetEase Cloud Music sues rival Tencent Music over 'unfair competition' claims
NetEase Cloud Music, the music streaming service owned by Chinese tech giant NetEase, is suing rival Tencent Music Entertainment.
That’s according to Reuters, which reports that NetEase’s legal action alleges “unfair competition”, including copying elements of its app’s design by TME’s music services including Kuwo Music and Kugou Music.
Tencent Music also runs music apps in China including its flagship music platform, QQ Music, plus online karaoke service, WeSing.
Reuters also reports that “features of TME’s suite of music streaming apps allowed its users to sidestep copyright protection and play songs licensed by NetEase Cloud Music”.
Pandaily, meanwhile, cites a NetEase Cloud Music statement that accuses TME of playing “unauthorised” songs on its music-streaming platforms ‘repeatedly’.
Also reported by Pandaily, NetEase Cloud Music’s statement claims that TME’s QQ Music, Kugou Music copied its friend-inviting function, and QQ Music and Kugou Music of ripping off an in-app turntable playback design.
The news of the legal action against Tencent Music Entertainment comes at a time when competition is hotting up in the music streaming sector in China.
Nine months ago, TME and and its majority-owner Tencent Holdings were ordered to relinquish exclusive deals held with global labels in China after TME was investigated, in 2019, for striking exclusive licensing …