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Introduction

This research note picks out some of the more interesting insights surrounding the financial standing of TME, its popularity, and what the details tell us about the Chinese music-streaming sector.

Highlights

  • Chinese music giant Tencent Music Entertainment (TME) has filed the necessary documentation with the US Securities and Exchange Commission (SEC), confirming its move to go public.
  • As is the case with all listings, documents filed with the SEC lift the lid on financial and operating metrics not previously available.

Features and Benefits

  • Examines the registration document filed by TME in the US, highlighting the most relevant points for companies operating in the music-streaming space.
  • Explains how the company's music services are performing and examines opportunities for growth.

Key questions answered

  • How many paying subscribers does TME have to its three music-streaming services?
  • What is the current ratio between paying users and total monthly active users?

Table of contents

Ovum view

  • Summary
  • Tencent Music Entertainment files for US listing
  • Low conversion rates but significant growth potential
  • An already advanced service pushing at the boundaries of development

Appendix

  • Author

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