Tencent Music’s public offering will serve to probe the global OPV markets. China’s response to Spotify could continue with an IPO of 2 billion dollars in New York in December, according to several media articles citing sources close to the agreement.
It is a bad time of the year to sell new shares and Tencent has already rectified its plans once. Moderate treatment will confirm fears that the window for important departures is closing quickly.
The liquidation of shares worldwide has already affected the Tencent plan to get rid of its streaming branch, which is the majority owner, and which in turn is the owner of the QQ Music application. In May, the titan of games and social networks, 312,000 million euros, expected to rise up to 3,500 million euros in an agreement that would have valued Tencent Music Entertainment Group in 25,000 million dollars; they said sources close to the publication International Financial Review, by Refinitiv. The Chinese company delayed its plan to go public in October after reducing the size of the offer by half.
Tencent Music will struggle to reach Spotify’s high notes
Tencent Music investors relations will struggle to reach the top notes of Spotify. The titan of social networks and games in China is going to market its streaming music branch with a valuation of up to 24,500 million dollars (21,500 million euros). Sales go up, and the unit has a new and profitable business model. However, the company’s great premium over Spotify is hard to justify.
The most important music application in China originally planned to raise at least 2 billion dollars (1,800 million euros) in October, according to nearby sources. But the fall of the market worldwide, aggravated by the commercial tensions between the United States and China, caused the Tencent Music’s IPO to be delayed.
The reasons for the alliance between Tencent and Spotify in music streaming
Spotify, the world’s first streaming platform, and the music division of Chinese media giant Tencent, announced a mutual minority stake. For both platforms, these investments, the amount of which has not been disclosed, should allow them to strengthen their catalog and their ability to negotiate licenses with the music production companies. What reassure investors for possible IPOs next year for both companies?
Spotify dominates the Western market, with 140 million active users, including 60 million subscribers paying $ 10 a month minimum. Tencent, through its three platforms – KuGou, QQ Music, and KuWo – has nearly 700 million monthly users, but only 15 million of them pay for its services. However, Spotify is not present in China and Tencent Music investor relations financial results is only at the beginning of the monetization of its subscribers.
Rich content for subscribers
The example of video games shows that it becomes possible to pay small sums to Chinese consumers for better services. Tencent, at the head of the two major Chinese social networks – QQ Music and WeChat (which is close to one billion users) – is a master in this art, also showing success in online video as in reading line. This is what drives investors to buy shares of the Chinese company, whose value is close to $ 500 billion ($ 424 billion).
In music streaming, Tencent is in a particularly favorable position: its three platforms are the first three in the market. KuGou (“cool dog”), the first on the market, owes its success to China’s small towns and countryside, with very popular songs that make singing in karaoke and dancing in public squares. QQ Music is more classic. KuWo is also a hit in karaoke and stands out on the live streaming of music videos.
The Lion King (2019) is Now Available on 123Movies
Online video streaming service, 123Movies, has updated its watching list with Sci-Fi and action genre film, The Lion King (2019). The movie was released on 19th July in worldwide cinemas and within two months of the release, it is available free on 123Movies in an HD format. Liam Cunningham, Joe Dempsie and Emilia Clarke are in the lead cast in the film. The movie is getting the attention of a huge number of people on the streaming service. Thousands of views have been crossed within a few days of the uploading and the traffic is expected to grow more by the end of this month.
Basically, 123MoviesWeb has been providing free online movies in Vietnam but it is getting popularity globally for its large database of old and latest movies. All the movies added on the website are free to watch with an HD format. People who were traveling and investing a lot on cinema theatres, are now showing inclinations towards 123Movies. It is providing free movies in different categories and genres. All the movies are dubbed in popular languages to make them available to each movie lover.
Earlier, 123Movies had added Marvel’s new release, Avengers: Endgame into its database which is today viewed by millions of movie lovers without paying any penny. The streaming service is continuously getting popularity around the world and dominating the global online movie market. It is great fun to watch movies on 123Movies because it does not irritate viewers with instant adds like other streaming services.
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