Tencent Music Set to IPO in October at Expected $30 Billion Valuation – Tencent Music Entertainment (TME) is preparing to go public October 18th at an expected valuation of $29-$31 Billion. TME is majority owned by Chinese media and technology giant Tencent, the IPO is underwritten by Goldman Sachs and Morgan Stanley. TME operates 3 digital music services with over 700 million monthly users, plus runs a karaoke app WeSing that boasts over 460 million monthly users. TME controls 78% of the Chinese music streaming market and controls the licensing rights in China for the 3 major labels, including Universal, Sony and Warner. TuneGo proudly distributes content to TME-owned properties.
Amazon Gets Serious About Music – Think the 2nd most valuable company in the world isn’t focused on music? Think again! Music has ascended the priority list at Amazon and has become one of the most popular requests for Alexa, the voice-controlled virtual assistant developed by Amazon. To compete with streaming market leaders Spotify and Apple, the world’s largest online retailer will mount the first national TV campaign for Amazon, featuring ads with songs from Ariana Grande, Kendrick Lamar and Queen. The monumental ad campaign will extend to billboards, online video and radio to the U.S., U.K. and Germany. Music listening on Amazon Alexa doubled in the past year and the Company clearly views music as an integral part of the long-term strategy. Those who follow Amazon CEO Jeff Bezos know that Amazon remains consistently committed to their long-term strategy – And that long-term strategy is deeply connected to music! TuneGo proudly distributes content to Amazon Music.
Apple Pays $1 Million + for Exclusive Ed Sheeran Documentary – Apple, the most profitable company in human history, has always had a symbiotic relationship with the world of music. Apple Music was launched in 2015 by Apple CEO Tim Cook and music business heavyweight Jimmy Iovine, the co-founder of Interscope Records and Beats Electronics, which was acquired by Apple for $3 Billion. Iovine has been a long-time advocate of the power of original content to differentiate between streaming services, quoting Netflix as the prime example of how to do it right. Apple’s 7-figure deal with Ed Sheeran represents the “Netflix model” in the music, where Big Tech music distribution companies invest into content. Sound familiar? Another prediction becomes reality… The Saga continues!
Today’s Awesome Quote! Check out the last Awesome 360 Quote! – TuneGo CEO John Kohl