TME - Mergers and acquisitions

SHENZHEN, China, May 17, 2021 /PRNewswire/ -- Tencent Music Entertainment Group ("Tencent Music," "TME," or the "Company") (NYSE:TME), the leading online music and audio entertainment platform in China, today announced its unaudited financial results for the first quarter ended March 31, 2021. Financial and Operational Highlights In the three months ended March 31, 2021: Online music paying users reached 60.9 million, increasing by 42.6% year-over-year. On a sequential basis, the number of online music paying users grew by 4.9 million, the largest quarterly net increase since 2016. Paying ratio was 9.9%, up from 8.0% and 9.0% in the third and fourth quarters of 2020, respectively. Total re

SHENZHEN, China, Feb. 8, 2021 /PRNewswire/ -- Tencent Music Entertainment Group ("Tencent Music," "TME," or the "Company") (NYSE: TME), the leading online music entertainment platform in China, has made significant progress in the long-form audio market in China. As part of a broader strategy to build synergies within its music entertainment ecosystem, long-form audio will continue to be a key focus of TME's strategic growth plan. Long-form audio includes podcasts, audiobooks, Chinese comedy, audio drama, talk shows, among other types of audio programs. As a relatively new area with low market penetration, long-form audio has significant potential for growth in China. TME made its initi

SHENZHEN, China, Jan. 29, 2021 /PRNewswire/ -- Tencent Music Entertainment Group ("Tencent Music," "TME," or the "Company") (NYSE:TME), the leading innovative online music entertainment platform in China, today announced that a consortium (the "Consortium"), which is led by Tencent Holdings Limited (00700.HK) and comprising the Company (through one of its wholly-owned subsidiaries) and other co-investors, has completed the acquisition of an additional 10% equity stake (the "Transaction") in Universal Music Group ("UMG") from its parent company, Vivendi SE (VIV.PA) ("Vivendi"), through exercising the call option as announced in December 2020. The Transaction was based on the same enterpris