It has around 600 million users, although only about 15 million of them are paying subscribers. A valuation on that scale would put Tencent Music on a par with global music streaming service Hong Kong-listed Tencent, which has a market value of around Tencent Music dominates the music streaming market in China through its QQ Music, KuGou and Kuwo platforms. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All times are ET. Smartphone maker … All rights reserved. Find out what's happening in the world as it unfolds.This story originally published on October 2, 2018.The company set a placeholder target of $1 billion, which could value the company between That amount would mark the third largest Chinese IPO to list in the United States since the beginning of 2018, according to data provider Dealogic. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2019 and/or its affiliates. All times are ET. Disclaimer. Social media just made it easier to spreadTwitter temporarily limits Donald Trump Jr.'s account Social media giants remove viral video making false coronavirus claimsThis AI technology tracks employees to enforce social distancingPalantir's CEO says its tech is used 'on occasion' to kill people.
It could choose either the Nasdaq or the New York Stock Exchange.Tencent Music's IPO follows a flurry of big listings by Chinese tech companies in recent months, including smartphone maker Xiaomi and online services provider Meituan Dianping.Most stock quote data provided by BATS. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. It has exclusive deals with Sony Music, Universal Music Group and Warner Music Group. All rights reserved.
Most stock quote data provided by BATS. Disclaimer. Overall, Tencent Music reported post-tax profit of $263 million in the first half of 2018, a 341 percent increase year-over-year. Under the arrangement, Tencent gets to decide which songs rivals can stream. All rights reserved. Morningstar: © 2019 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc.2018. "Tencent has an overwhelming market share in a growing business," Travis Lundy, an analyst at investment research platform Smartkarma, wrote in a note Monday. The planned IPO of Tencent Music comes amid a flurry of anticipated listings for Chinese tech companies in the coming months. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates.Navarro: This is the issue with Microsoft potentially buying TikTokFiery exchange erupts at congressional antitrust hearingUnder questioning, Zuckerberg admits Instagram was a 'competitor'Congresswoman grills Facebook CEO on copying competitorsRussian misinformation isn't new. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Tencent Music Entertainment (TME), a spin off of Chinese tech giant Tencent Holdings raised close to $1.1 billion through an US IPO after pricing its shares at $13 per share – the bottom of its stated range.. TME is a major digital music streaming service in China with nearly 800+ million active monthly users according to the Form – F1 filing.
Tencent shares were up 2.5% in afternoon trading in Hong Kong. FILE PHOTO: Tencent Music Entertainment celebrate the company's IPO on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 12, 2018. All rights reserved.
The company didn't respond to requests for further comment. "The symbol would be TME, but the company hasn't yet decided which listing exchange to trade. The company revealed in its SEC filing that its music apps have more than 800 million monthly active users. The music arm of Chinese tech giant Tencent … "We are pioneering the way people enjoy online music and music-centric social entertainment services," it said in a filing, adding that it predicts the number of people that pay for music in China will "more than quadruple between 2017 and 2023. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN.
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