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Tencent Music Entertainment Group - Pandata

Tencent Music Entertainment Group
Tencent Music Entertainment Group
Founded in 2016, Tencent Music Entertainment Group ("TME") is the leading online music entertainment platform in China. They provide online music and music-centric social entertainment services, operating the four most popular music mobile apps in China (QQ Music, Kugou Music, Kuwo Music and WeSing), with a total of over 800 million users. They offer a comprehensive suite of online music entertainment products, which allows users to enjoy a broad range of music experiences, including discovering, listening, singing, watching, performing and socializing. With various music entertainment services fully integrated into one platform, users not only listen to music on the platform, but can also sing karaoke with friends or watch live performances. TME has a comprehensive and diverse central music library with an extensive selection of albums and live music available in both audio and video formats. With a leading position as a pioneer for copyright protection in China, TME expanded their strategic partnerships with over 200 domestic and international music labels. Their music content library is complemented by user-generated content, including online karaoke songs, short videos, live streaming of music performances and more. TME uses technology and data to develop products that provide superior user experiences, drive user engagement and empower artists as well as content partners to produce, distribute, protect and monetize their music. TME's mission is to use technology to elevate the role of music in people's lives, by enabling them to create, enjoy, share and interact with music. In 2003 - QQ Launches Music Services Tencent's popular messaging app, QQ, begins offering music services. In 2004 - Kugou Music Launched Kugou Music is leading online music services that offers a comprehensive set of entertainment features, with a mass market focus and strong user penetration in lower-tier cities. In 2005 - QQ Music and Kuwo Music Launched QQ Music offers leading online music services with nationwide popularity that offer a comprehensive music library and a broad range of music-related video content, with a focus on popular artists and leading mainstream hits for younger music fans in top-tier cities in China. QQ Music also promotes the development of a music fan economy centered around popular artists. In 2012 - Kugou Live Launched Kugou Live is a music-centric live streaming platform where users can watch live streaming of music performances, concerts, and music variety shows in an interactive and engaging setting. In 2014 - WeSing Launched Leading TME's social entertainment initiatives, WeSing is an online karaoke community that allows users to share and connect their performances with friends through seamless integration with WeChat. In 2016 - TME Founded Tencent Music Entertainment Group was founded via a merger of Tencent's music business and China Music Corporation. In 2017 - Tencent Musician Program Launched The Tencent Musician Program is an online service for selected aspiring artists to upload original music content to TME's platform that can be streamed and downloaded by users across the suite of services. The goal of the program is cultivate unknown talents and promote them to stardom. In October, 2017 - TME Acquired Ultimate Music Ultimate Music is a provider of online music services to smart devices and also enables automobile makers to develop their built-in music players. On December 8, 2017 - TME and Spotify Announced Share Swap Tencent and Spotify announced a share swap in December that saw each side take a slice of the other for strategic purposes going forward. TME received 7.5% of Spotify, and Spotify 9% of TME. On December, 12 - TME IPO on NYSE TME debuts on the NYSE as a public company.


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