Tencent Music Entertainment Group (TME)

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Tencent Music Entertainment Group (TME.xnys) is a multinational entertainment online platform headquartered in Shenzhen, the People’s Republic of China. Tencent Music developed and operates its apps, including Kuwo, QQ Music, Kugou, and WeSing. The leading streaming music service platform provides freemium model services to approximately 832 million active users and 120 million paying subscribers. TME employs 85,858 people across four locations. Tencent Music Entertainment Group (TME.xnys) is traded on the New York Stock Exchange (NYSE), has an $11.86B (USD) market cap, and a 19% year over year increased revenue of ¥29.15B (CNY) (around $1.83B (USD)) in 2020 yearly. Tencent Music Entertainment Group plans to sell up to $5 billion in shares for an IPO (Initial Public Order) to enter the Hong Kong Stock Exchange (SEHK) by the end of the year. However, market volatility, China's crackdown on online platforms, and accusations over licensing rights and anticompetitive behavior do not seem to favor Tencent Music Entertainment Group’s plans.

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Source - database | Page ID - 13405

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