10 things we learned from Tencent Music’s IPO filing

Tencent Music published its filing to go public last night. We’ve been filleting the document to pull out some of the most interesting data and strategic titbits on the Chinese digital-music company. 1.  The big figures Tencent Music’s total revenues were RMB 10.98bn in 2017 (that’s $1.66bn) having grown by 151.8% year-on-year. The company recorded a net […]

Tencent Music reportedly set for $3.1bn revenues in 2018

We’re still waiting for the official publication of Tencent Music’s filing for an IPO in the US, which will provide bags of metrics on the company’s music-streaming services. The post Tencent Music reportedly set for $3.1bn revenues in 2018 appeared first on Music Ally. Source: Music ally

Social app Musical.ly to shut down after merger with TikTok

Social music app Musical.ly is being shut down by its owner Beijing Bytedance Technology Co, which plans to merge the app’s community with one of its other apps, TikTok. Bytedance bought Musical.ly for more than $800m in November 2017, after the latter app had grown to more than 100 million users – mostly in the west. […]

Facebook opens China ‘innovation hub’ despite being blocked

“There are three reasons I decided to learn Chinese,” Facebook CEO Mark Zuckerberg told a Chinese audience (in Mandarin) back in October 2014. “The first, my wife is Chinese. Her grandmother can only speak Chinese. When I told her in Chinese I was going to marry Priscilla, she was very shocked. Then I want to study Chinese […]

Chinese secondary-ticketing firm Moretickets raises $60m

In the west, secondary-ticketing platforms are increasingly controversial in terms of their role within the music industry. In China, though, one of the most popular sites has just raised a significant funding round.  Moretickets’ Series C round was worth $60m, led by investment firm TPG Growth – last covered here in January when it bought […]

NetEase hails success of western artists on its service

We’ve heard at several conferences recently that Chinese streaming service NetEase Cloud Music might be a happier hunting ground for western artists than rival services operated by Tencent Music. Now NetEase is talking about some of the success stories to reinforce that view. More than 30% of activity on its service – including streams but […]

China’s music potential: ‘We are finally getting there!’

2017 was a big year for the music industry in China: according to the IFPI, last year it was one of the world’s 10 biggest recorded-music markets for the first time. Excitement around the growth of the music-streaming services run by tech companies like Tencent and NetEase is palpable within the western industry, but a […]

Beggars Group China strategy: ‘We have a real issue with exclusivity’

“China was my hobby for the best part of 10 years: something which the company allowed me to run as a hobby on the side as long as I wasn’t spending too much money. It was five years before we made any money whatsoever, and 10 years until we felt we had a business…” Simon […]

Merlin signs deals with NetEase, Tencent and Alibaba in China

Indie licensing agency Merlin has announced agreements with the three biggest music-streaming service owners in China: Tencent, NetEase and Alibaba. The deals will see the catalogue represented by Merlin – music from more than 20,000 independent labels and distributors – made available on Chinese streaming services including NetEase Cloud Music, Xiami, QQ Music, Kugou and […]

Paid online-music market tipped to grow 59% in China

The market for ‘paid online music’ in China is expected to grow by 59% this year to $455m according to research firm iResearch, whose prediction is quoted prominently in the Financial Times’ latest piece on China. It focuses on the evolving dynamics of the Chinese streaming market, where the exclusive licensing deals signed by Tencent […]

NetEase Cloud Music now has 400m users in China

Chinese music service NetEase Cloud Music says it now has 400 million users, having increased its monthly active users (MAUs) by 44% year-on-year. The company also says that its users are skewed towards the 15-35 year-old demographic in China’s tier one and tier two cities, with those listeners creating 620k playlists and posting 1.5m comments […]

Baidu unveils Raven H smart speaker

Chinese technology firm Baidu has unveiled a new smart speaker, which will make its debut in its homeland this December. It’s called Raven H, and is the first product to be launched under Baidu’s umbrella by Raven Tech, a smart-home hardware startup that the company bought in February this year. The equivalent of Alexa, Siri […]

Chinese startup Nusic to launch mobile game for mix-sharing

We raise our eyebrows wearily whenever we see a new startup touting itself, as Nusic does, as an ‘Instagram for Music’. But the slogan for the Chinese firm’s profile on investment site AngelList actually sells it short: the company appears to be working on something much more interesting than just a ‘share photos with music […]

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