Chinese music industry is already gaining attention from foreign investors and it might be on the right track to going global.
Tencent Music (TME), the music streaming subsidiary of the China tech giant Tencent Holdings Ltd., raised $1.1 billion in its U.S. initial public offering (IPO), pricing shares at $13 per piece on Dec. 12 local time.
Tencent Holdings Limited announced on July 8 night that the company will spin off and list its online music entertainment business, Tencent Music Entertainment Group in the United States.
Fast Company released the 2018 edition of the World’s Most Innovative Companies. Among the top 50 most innovative companies, Apple, Netflix, and Square were the top three. Tencent, which has been on the list for four consecutive years, surpassed Amazon and ranked fourth place in the list.
Chinese users no longer need to fret over the choice between downloading music from NetEase Cloud Music or Tencent Music.