Quantcast
CHINA'S TENCENT TO LAUNCH U.S. IPO

Without providing a time frame or any details, Chinese conglom Tencent announced on Monday that it will spin off its music streaming unit via an IPO on a U.S. stock exchange.

The Stock Exchange of Hong Kong Limited has accepted Tencent’s proposal to spin off its Tencent Music platform in China. Tencent has a market value of around $480b; its music division is said to be valued at around $30b.

Tencent has exclusive deals with Sony Music, Universal Music Group and Warner Music Group, and is allowed to cherry pick songs that other services in China are allowed to stream. It has about 600m users, 15m of whom are paying subscribers.

YOUR TOP 20 IS
MUY GRANDE
How will the Grammys affect who follows Ariana? (2/14a)
SONG REVENUE CHART: FEMALE POWER
Ari! Halsey! Billie! (2/15a)
UMG POSTS $7B YEAR,
WITH SALE ON TRACK
Who wants a piece of this? (2/15a)
FLIPOVER FRIDAY: NEW ARRIVALS AT iTUNES AND APPLE MUSIC
A pair of dynamic duos leads the pack. (2/15a)
HITS LIST KEEPS FALLING ON MY HEAD
These rainmakers are anything but all wet. (2/15a)
THE WINNERS
What the Grammys tell us about a changing landscape.
COMMITTED TO ROCK
The biz players who are determined to get the volume back up.
MANAGEMENT DO-SI-DO
Big changes among big acts.
THE NEW SUPERSTARS
The old pop rules just don't apply.
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)