Tencent Music Entertainment Group (TME) is one of the world’s largest internet music platforms. Its main businesses include digital music players, mobile online karaoke, live music shows, copyright resales, advertising and other music-related businesses. TME owns a wealth of music copyrights and the largest active user group in the Chinese music market. The daily active users and monthly active users of its three music platforms are both in the front rank of China’s online music apps, gathering nearly 80% of users in this field. Its market shares of download and online audition both exceed 60%.
The special Music Industry Fund under management, since its inception in 2012, has invested in Ocean Music or CMC and participated in its takeover of Kuwo, Kugou, Rainbow Music, etc. In 2017, Ocean Music merged with Tencent Group’s music business. Within 6 Years, the assets of the Music Industry Fund appreciated more than 10 Times. TME was listed on the New York Stock Exchange at the end of 2018, with $30 billion of market capitalization. The market value of the Fund exceeded 1.5 billion dollars. Investors have gradually withdrawn from the fund, and early investors’annualized return rate exceeds 100%.
· 2012 Ocean Music or China Music Corporation (CMC) established
· 2013 CMC acquired Kuwo
· 2014 Tencent invested in CMC as a strategic investor,CMC acquired Rainbow Music and signed a strategic cooperation agreement with Warner Music Group
· 2015 Tencent and NetEase Cloud Music reached copyright cooperation
· 2016 CMC merged with Tencent’s music business
· 2017 CMC renamed as Tencent Music Entertainment Group
· December 12, 2018 TME listed on the New York Stock Exchange,Market capitalization of around 30 billion dollars