MI2N
Music Industry News Network
MONDAY, JANUARY 22ND
Advanced Search
MusicDish Advertising Network
HOME | FREE NEWS SUBMISSION | PREMIUM PR DISTRIBUTION | PR COPYWRITING | RSS FEEDS | TESTIMONIALS | CONTACT

Sections: Band | Business | Career | Events | Label | Music Releases | Radio | Tech | Video | Web Events
Genres: Country/Folk | Dance/Electronica | Jazz/Blues | Latin | Rock | Urban | World
International: Asia | Canada | Europe

Advertise | Artist Development | Submit Video | MusicDish*China | MusicDish e-Journal | MusicDish Network | Urban Music News Network
Business News (more headlines) 12-17-2017

Spotify, Tencent And Tencent Music Entertainment Announce Equity Investments

Bookmark and Share

Spotify, Tencent Holdings Limited and its subsidiary Tencent Music Entertainment Group jointly announce equity investments, strengthening relationships between the two most popular music streaming platforms in the world.

TME and Spotify will acquire new shares representing minority equity stakes in each other for cash. In addition, Tencent will invest in Spotify through secondary purchases. Following these transactions, Spotify will hold a minority stake in TME, and both Tencent and TME will hold minority stakes in Spotify.

Spotify operates the world's largest music streaming service. Tencent, which owns a majority stake in TME, operates the most popular social platforms in China and has a proven record of investing in innovative technology companies. TME is an early mover in authorized digital music and is the largest online music services company in China. It provides a rich catalogue of digital music services including streaming, online live broadcasts and karaoke, serving hundreds of millions of users.

Daniel Ek, CEO and Founder, Spotify, said, "Spotify and Tencent Music Entertainment see significant opportunities in the global music streaming market for all our users, artists, music and business partners. This transaction will allow both companies to benefit from the global growth of music streaming."

Cussion Pang, CEO of TME, said: "We are excited to embark on this partnership with the largest music streaming platform in the world. TME and Spotify will work together to explore collaboration opportunities, with a common objective to foster a vibrant music ecosystem that benefits users, artists and content owners."

Martin Lau, President at Tencent, said: "We are delighted to facilitate this strategic collaboration between the two largest digital music platforms in the world. Both of us share the same commitment to bringing music and superior entertainment experiences to music lovers, and to expanding the global digital music market for artists and content partners."

Bookmark and Share

back | top



MusicDish Advertising Network

Mi2N Music PR

The International Music Consulting Firm GINGIO Hosts Events At NAMM And Grammy Weeks

MarilynMusic Places Five New Songs With Altino Music

Award Winning Singer/Songwriter Craymo Releases December Rain (Carol Of Love) To Radio

For Folk's Sake Premieres Katie Garibaldi's 'Unhappy Holiday' Honky Tonk Music Video

GuitarPlayer.com Debuts Claymation Music Video For 'Star In The East' By Katie Garibaldi

Veteran Recording Artist Jerri BoKeno Rekindles Holiday Jewel "This Christmas"

The Ed Sheeran Of The Hare Krishna World: Meet Cyril Wohrer



MusicDish*China Song Blast
Promote Your Music Single In China

News Headlines
Mi2N EDITOR'S PICKS
» Spotify Makes Motion To Restrict Communication Between Wixen Music Publishing, Inc., Its Clients, And Their Attorneys
» Say Hello To Volareo: A Streaming Speaker That Pays Musicians When You Clap
» MarilynMusic Places Five New Songs With Altino Music
» VidaPrimo Debuts Latin Music Channel On XUMO
» "Whiskey And Cigarettes Show" Nominated For 2018 New Music Awards
» Reservoir Promotes Rell Lafargue To President And Chief Operating Officer
» Independent Music Magazine Indie Band Guru Launches Indiegogo Campaign
» The International Music Consulting Firm GINGIO Hosts Events At January NAMM And Awards Week
» Award Winning Singer/Songwriter Craymo Releases December Rain (Carol Of Love) To Radio
» Runway 27, Left: Planned Release Of Third Album 'Triple Story' In Spring 2018


Get your music news covered...
Have your press release written
by the pros at Mi2N

Articles
MUSICDISH E-JOURNAL
» MusicDish*China Presents 'Savage Guitarist' Todd Clouser In Beijing
» Mixcloud Taps Gracenote For Advanced Music Recognition
» Copyright Royalty Board Increases Sirius XM Royalty Rate
» Lithuanian Band Grabs Bronze At The Silk Road Indie Music Festival 2017
» Live Entertainment Specialists Headliner Launch Premium Artist Booking Service
» Voice-Controlled Speakers & The Music We Listen Too
» Nordic & British Musicians' Unions' Joint Statement On Sexism In The Music Industry
» Women Make An Impact On The 2018 MPG Awards Shortlist
» The Nashville Musicians Sound Healthcare Plan Rolls Out
» Streaming & Listening Diversity - Spotify Case Study
» Two-Sides Of Copyright Finance: Sound Royalties & Kobalt
» Career Moves: ROLI, Live Nation Sweden, Music Glue, BBR Music Group, Warner/Chappell Music Spain & Blue Night Soundscapes

Mi2N's Music PR distribution service guarantees online exposure for your press release. Choose from seven (7) different packages.


HOME | FREE NEWS SUBMISSION | PREMIUM PR DISTRIBUTION | PR COPYWRITING | RSS FEEDS | TESTIMONIALS | CONTACT

Sections: Band | Business | Career | Events | Label | Music Releases | Radio | Tech | Video | Web Events
Genres: Country/Folk | Dance/Electronica | Jazz/Blues | Latin | Rock | Urban | World
International: Asia | Canada | Europe

Advertise | Artist Development | Submit Video | MusicDish*China | MusicDish e-Journal | MusicDish Network | Urban Music News Network
Copyright © 1997-2018 MusicDish LLC, all rights reserved. Text, graphics, and HTML code are protected by US and International Copyright Laws, and may not be copied, reprinted, published, translated, hosted, or otherwise distributed by any means without explicit permission.