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Top related persons:
That's - 1 Morgan Stanley - 1 Alex Poon - 1 ADRs - 1 TME - 1 Alex Yao - 1 Gross - 1 JPMorgan's Yao - 1
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China U.S Tencent 3Q23 Bengaluru
Top related orgs:
Entertainment - 2 Tencent - 1 Spotify - 1 Kugou Music - 1 JPMorgan - 1 REUTERS - 1 HK - 1 Kugou - 1

Search resuls for: "Kugou Music"


2 mentions found


☆ China’s version of Spotify is ‘underappreciated,’ Morgan Stanley says
  + stars: | 2023-12-03 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +3 min
Tencent Music Entertainment is convincing more people in China to pay for music. Because of the size of China's market, it's more than Spotify 's claim of 574 million monthly active users —across 184 countries and territories. TME's "music value [is] still underappreciated," Morgan Stanley analysts led by Alex Poon wrote in a late November report. "We see room for [TME] music revenue to double and profit to triple in the next three years," the Morgan Stanley analysts wrote, noting "limited risks from macro and competition." Revenue from music subscriptions is estimated to rise 38% in 2023 versus 2022, Morgan Stanley estimates.
Persons: That's, Morgan Stanley, Alex Poon, ADRs, TME, Alex Yao, Gross, JPMorgan's Yao, Tencent, — CNBC's Michael Bloom Organizations: Tencent, Entertainment, Spotify, Kugou Music, JPMorgan Locations: China, U.S, Tencent, 3Q23
☆ China's Tencent Music beats revenue estimates on paid subscriber growth
  + stars: | 2023-11-14 | by ( ) www.reuters.com   time to read: +1 min
The logo of China's Tencent Music Entertainment Group is seen next to an earphone in this illustration picture taken March 22, 2021. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsNov 14 (Reuters) - China's Tencent Music Entertainment (1698.HK) beat estimates for third-quarter revenue on Tuesday, helped by steady growth in paid subscriptions on its music streaming platform. Tencent Music, which includes platforms such as QQ Music, Kugou Music, Kuwo Music and WeSing, has won listeners over by bundling everything from karaoke platforms to live concert streaming services. Total revenue of the Tencent Holdings Ltd-controlled (0700.HK) company, however, fell to 6.57 billion yuan ($900.9 million) in the third quarter. Net profit attributable to equity holders of the company rose to 1.71 billion yuan, from 1.06 billion yuan a year earlier.
Persons: Florence Lo, Harshita Mary Varghese, Akash Sriram, Pooja Desai Organizations: Entertainment, REUTERS, HK, Kugou, Tencent Holdings, Thomson Locations: Bengaluru
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