According to sources quoted by Bloomberg, Tencent Music Entertainment Group is seeking a new round of financing at a valuation of US $ 10 billion before the IPO, and Tencent Music plans to sell approximately 3% of the shares to strategic partners, including record labels. At the end of last year, Tencent Holdings held 62.45% shares of Tencent Music.
In the online music market of China, Tencent Music will gain important streaming media music rights through its ownership relationship with record labels Tencent had previously split its music business and merged with the Chinese music group to gain access to the streaming media music market in China A higher share.It is estimated that users pay revenue point of view, by 2018, China's streaming media music market will reach 4.37 billion yuan.
Tencent Music has signed deals with some of the world's largest record labels, including Universal Music, Warner Music and Sony Music, to distribute songs from multiple celebrities including Beyoncé and Taylor Swift.
Bloomberg quoted sources as saying Tencent Music Entertainment Group is seeking a new round of financing for the $ 100 billion valuation ahead of the initial public offering Tencent Music plans to sell to strategic partners, including record labels, about 3 % Of the shares as of the end of last year, Tencent Holdings holds 62.45% stake in Tencent Music.
In the online music market of China, Tencent Music will gain important streaming media music rights through its ownership relationship with record labels Tencent had previously split its music business and merged with the Chinese music group to gain access to the streaming media music market in China A higher share.It is estimated that users pay revenue point of view, by 2018, China's streaming media music market will reach 4.37 billion yuan.
Tencent Music has signed deals with some of the world's largest record labels such as Universal Music, Warner Music and Sony Music, distributing songs from multiple celebrities, including Beyonce and Taylor Swift.
