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China’s biggest streaming service Tencent Music has filed for US IPO

The chines streaming giant named Tencent Music, which has more than 800 million users, seems to have planned to make its run, after quite a few speculations that came recently. The company has filed initial paperwork, in order to go public in the Unites states, following the footsteps of many other companies in the region, which have gone public in this year. The exchange is not specified as of now, but it is being said that the initial target of this is nearly $1 billion raise, but it can also change based on many factors.

Based on the data obtained from reliable sources, it is found that the company Tencent is actually valued at nearly $12 billion, and hence it will be quite interesting to know the outcome of this particular listing. The company houses a few apps including Kuwo Music, WeSing, Q Music, and Kugou Music, and these apps include the common orthodox streaming services such as live-streaming services along with the karaoke apps. These are recognized as the top four apps in the Chinese region in particular, when it comes to music applications, and they claim nearly 800 million users which are basically the monthly users of the same.

The TME is said to be a very profitable business as compared to Apple Music, Pandora, and Spotify, but the gross revenue of the same, and the ways that the company chooses to make money are said to be quite different in many ways, from the others. The company basically chooses a very different way of operations in this case, and according to the reports, the company obtains majority of the revenue of the company from some social activities. In addition to that, the company also uses advertising and the song sales too help in the process, by some margin.

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