Latest news with #TencentMusic
Yahoo
3 days ago
- Business
- Yahoo
HYBE Sells Remaining Stake in K-Pop Rival SM Entertainment for $177 Million
HYBE has sold its remaining 9.38% stake in rival SM Entertainment to Tencent Music Entertainment for approximately $177 million, the company revealed in regulatory filing. The SM agency is home to such groups as EXO, Aespa (pictured above) and NCT 127; Tencent Music is a subsidiary of Chinese tech giant Tencent. The deal will see 2.21 million shares transferred at 110,000 Korean won per share and is set to close on May 30, according to the filing. HYBE initially acquired a 14.8% stake in SM from founder Lee Soo Man, and later upped its holding to 15.78% through an unsuccessful takeover bid, being topped by Kakao and its subsidiary Kakao Entertainment, which now holds slightly over 40%. Tencent is now the second-largest shareholder in SM. More from Variety HYBE Latin Launches 'Medellín Music Lab' in Colombia: 'Ready to Make History' (EXCLUSIVE) K-Pop Group NewJeans to Continue Label Battle Despite Fresh Court Setback Alan Chikin Chow Launches Casting Call for Co-Ed Pop Group He's Forming With HYBE America That Will Be Featured in a Scripted Series on YouTube (EXCLUSIVE) According to South Korea's Yonhap news agency, cited in Music Business Worldwide, HYBE stated that I has 'divested non-core assets as part of a choice and concentration strategy,' adding that the 'Secured funds will be used to secure future growth engines.' It noted that SM says that the company plans to 'work more closely with Tencent Music' following the share sale. MBW notes that China-based Tencent Music's investment in SM, a South Korean music company, coincides with reports that China will be lifting its ban on South Korean cultural and entertainment content imports. That ban was imposed by China in 2017 in response to the deployment of a U.S. missile system in South Korea. With a population of more than 1.4 billion people, China would seem ripe for Korean entertainment. Tencent Holdings also owns stakes in other K-pop operations, including Kakoa (a 4.61% stake) labels and YG Entertainment. Best of Variety New Movies Out Now in Theaters: What to See This Week Emmy Predictions: Talk/Scripted Variety Series - The Variety Categories Are Still a Mess; Netflix, Dropout, and 'Hot Ones' Stir Up Buzz Oscars Predictions 2026: 'Sinners' Becomes Early Contender Ahead of Cannes Film Festival
Yahoo
20-05-2025
- Business
- Yahoo
Tencent Music Entertainment Group to Hold Annual General Meeting on June 27, 2025
SHENZHEN, China, May 20, 2025 /PRNewswire/ -- Tencent Music Entertainment Group ("TME," or the "Company") (NYSE: TME and HKEX: 1698), the leading online music and audio entertainment platform in China, today announced that it will hold its annual general meeting of shareholders (the "AGM") at 10/F, The Hong Kong Club Building, 3A Chater Road, Central, Hong Kong on Friday, June 27, 2025 at 10 a.m. (Beijing/Hong Kong time) for the purposes of considering and, if thought fit, passing the resolutions as set forth in the notice of the AGM (the "AGM Notice"). The AGM Notice and the form of proxy for the AGM are available on the Company's website at on May 20, 2025. The Board of Directors of the Company fully supports the proposed resolutions and recommends that shareholders and holders of American depositary shares ("ADSs") vote in favor of the resolutions. Holders of record of the Company's ordinary shares as of the close of business on Tuesday, May 20, 2025 (Beijing/Hong Kong time), are entitled to receive notice of, and to attend and vote at, the AGM or any adjournment or postponement thereof. Holders of record of ADSs as of the close of business on Tuesday, May 20, 2025 (U.S. Eastern Time) who wish to exercise their voting rights for the underlying Class A ordinary shares must give voting instructions directly to The Bank of New York Mellon, the depositary of the ADSs, or indirectly through a bank, brokerage or other securities intermediary, as the case may be. The Company has filed its annual report on Form 20-F, including its audited financial statements, for the fiscal year ended December 31, 2024, with the U.S. Securities and Exchange Commission (the "SEC"). The Company's annual report on Form 20-F can be accessed on the Company's website at and on the SEC's website at About Tencent Music Entertainment Tencent Music Entertainment Group (NYSE: TME and HKEX: 1698) is the leading online music and audio entertainment platform in China, operating the country's highly popular and innovative music apps: QQ Music, Kugou Music, Kuwo Music and WeSing. TME's mission is to create endless possibilities with music and technology. TME's platform comprises online music, online audio, online karaoke, music-centric live streaming and online concert services, enabling music fans to discover, listen, sing, watch, perform and socialize around music. For more information, please visit Safe Harbor Statement This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC and the HKEX. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law. Investor Relations Contact Tencent Music Entertainment Groupir@ +86 (755) 8601-3388 ext. 818415 View original content: SOURCE Tencent Music Entertainment Group
Yahoo
20-05-2025
- Business
- Yahoo
Tencent Music Entertainment Group to Hold Annual General Meeting on June 27, 2025
SHENZHEN, China, May 20, 2025 /PRNewswire/ -- Tencent Music Entertainment Group ("TME," or the "Company") (NYSE: TME and HKEX: 1698), the leading online music and audio entertainment platform in China, today announced that it will hold its annual general meeting of shareholders (the "AGM") at 10/F, The Hong Kong Club Building, 3A Chater Road, Central, Hong Kong on Friday, June 27, 2025 at 10 a.m. (Beijing/Hong Kong time) for the purposes of considering and, if thought fit, passing the resolutions as set forth in the notice of the AGM (the "AGM Notice"). The AGM Notice and the form of proxy for the AGM are available on the Company's website at on May 20, 2025. The Board of Directors of the Company fully supports the proposed resolutions and recommends that shareholders and holders of American depositary shares ("ADSs") vote in favor of the resolutions. Holders of record of the Company's ordinary shares as of the close of business on Tuesday, May 20, 2025 (Beijing/Hong Kong time), are entitled to receive notice of, and to attend and vote at, the AGM or any adjournment or postponement thereof. Holders of record of ADSs as of the close of business on Tuesday, May 20, 2025 (U.S. Eastern Time) who wish to exercise their voting rights for the underlying Class A ordinary shares must give voting instructions directly to The Bank of New York Mellon, the depositary of the ADSs, or indirectly through a bank, brokerage or other securities intermediary, as the case may be. The Company has filed its annual report on Form 20-F, including its audited financial statements, for the fiscal year ended December 31, 2024, with the U.S. Securities and Exchange Commission (the "SEC"). The Company's annual report on Form 20-F can be accessed on the Company's website at and on the SEC's website at About Tencent Music Entertainment Tencent Music Entertainment Group (NYSE: TME and HKEX: 1698) is the leading online music and audio entertainment platform in China, operating the country's highly popular and innovative music apps: QQ Music, Kugou Music, Kuwo Music and WeSing. TME's mission is to create endless possibilities with music and technology. TME's platform comprises online music, online audio, online karaoke, music-centric live streaming and online concert services, enabling music fans to discover, listen, sing, watch, perform and socialize around music. For more information, please visit Safe Harbor Statement This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC and the HKEX. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law. Investor Relations Contact Tencent Music Entertainment Groupir@ +86 (755) 8601-3388 ext. 818415 View original content: SOURCE Tencent Music Entertainment Group Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-05-2025
- Business
- Yahoo
Tencent Music Entertainment Group (NYSE:TME) Q1 2025 Earnings Report Shows Revenue Growth
Tencent Music Entertainment Group recently announced its first-quarter 2025 financial results, showing impressive revenue growth and increased earnings per share, despite a slight decline in monthly active users. The company's stock price rose 36% over the past month, significantly outperforming the broader market's 1.6% increase in the last seven days and its 12% rise over the past year. This substantial price movement may reflect positive investor sentiment fueled by strong financial performance, ongoing merger discussions with Ximalaya, and the company's efforts to strengthen its market position, serving as a counterbalance to the market's generally moderate gains. Buy, Hold or Sell Tencent Music Entertainment Group? View our complete analysis and fair value estimate and you decide. We've found 16 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. The recent announcement of Tencent Music Entertainment Group's strong financial results for Q1 2025, alongside ongoing merger discussions with Ximalaya, reinforces the company's dual-engine strategy. This focus on content and platform innovation could bolster subscriber conversions and revenue growth, aligning with analyst expectations. Over the past three years, the company's total shareholder returns, inclusive of share price performance and dividends, was very large, highlighting substantial long-term growth. During the past year, however, TME underperformed the US Entertainment industry, which registered a 55.3% increase, demonstrating mixed performance dynamics. Despite a slight decline in monthly active users, positive developments in AI integration and SVIP expansion are expected to drive user engagement, supporting future revenue and earnings potential. Analysts forecast revenue to rise from CN¥28.99 billion in 2025 to CN¥37.8 billion by 2028, while earnings are predicted to increase from CN¥9.51 billion to CN¥10.5 billion within the same period. The current share price at US$14.41 suggests a 12.5% discount to the consensus analyst price target of US$16.47, indicating potential upside if revenue and earnings projections are met. These factors together could sustain favorable investor sentiment and impact TME's market valuation. Jump into the full analysis health report here for a deeper understanding of Tencent Music Entertainment Group. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NYSE:TME. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
Time of India
13-05-2025
- Business
- Time of India
Tencent Music's quarterly revenue jumps amid growth in subscribers
HighlightsTencent Music Entertainment surpassed analysts' expectations with a first-quarter revenue increase of 8.7 percent, reaching 7.36 billion yuan, driven primarily by a 16.6 percent rise in music subscription revenue. The company's premium Super VIP membership, offering a combination of long-form audio content, online karaoke services, and high-quality sound, has seen significant growth in user adoption. Despite overall revenue gains, Tencent Music's social entertainment division, which includes the karaoke application WeSing and live concert platform Kuwo Music, experienced an 11.9 percent decline in revenue due to regulatory changes affecting live-streaming features. Tencent Music Entertainment exceeded analysts' expectations for first-quarter revenue on Tuesday, driven by growth in subscribers for its online music services . The U.S.-listed shares of the company were up 2 per cent in premarket trading. Tencent Music's premium Super VIP (SVIP) membership, which combines long-form audio content, online karaoke services and high-quality sound, has gained significant traction among users. The company is taking the right steps by providing affordable entertainment options to users amid a slowing economy, analysts said last month. Revenue from music subscriptions grew 16.6 per cent to 4.22 billion yuan ($586.1 million), while paying users increased by 8.3 per cent to 122.9 million. However, the social entertainment division remains a drag on the overall growth due to the removal of certain live-streaming features to adhere to Beijing's anti-gambling regulations. For the first quarter, revenue from the social entertainment services business, which includes karaoke app WeSing and live concert platform Kuwo Music, fell 11.9 per cent to 1.55 billion yuan. The company posted an 8.7 per cent increase in revenue to 7.36 billion yuan for the quarter ended March, beating analysts' estimates of 7.27 billion yuan, according to data compiled by LSEG. The music firm is also in advanced talks to acquire China's largest online audio platform, Ximalaya, which would broaden its portfolio.
