Tencent is bringing its music division to the US

Tencent's push onto American entertainment is going beyond gaming and movies. Now the Chinese conglomerate will bring its Tencent Music Entertainment division to domestic shores, as spotted by TechCrunch. Over the weekend, the company announced (PDF) that it will put its music division on a "recognized stock exchange in the United States." Last year, it was rumored that Tencent tried buyin g Spotify, but those talks fell through.

Considering that it took Apple Music, which launched in the US a full four years after Spotify's domestic debut, to apparently overshadow Spotify, established players on the scene probably don't have too much to worry about.

The interesting rub here is that, quietly, Tencent has been making investments in US entertainment companies for awhile as it looks to expand its empire. In the past 12 months alone, the company has inked partnerships with JJ Abrams' Bad Robot for a gaming venture, served as producer on Kong: Skull Island and has/had a hand in the upcoming Terminator reboot and last summer's Wonder Woman, respectively.

Oh, Tencent also is responsible for PUBG Mobile and it holds the rights for the forthcoming Fortnite mobile port. That's in addition to owning almost 50 percent of Fortnite developer (and gaming technology company) Epic Games. Whoops, almost forgot to mention that Tencent also has made investments in Ubisoft and Activision Blizzard. And League of Legends maker Riot Games and Snapchat and Tesla and celebrity-vanity-game developer Glu Mobile.

So, regardless of what happens with the company's music business, even if it tanks in the US (comparatively), it's not like Tencent won't make money off other domestic investments.

Via: TechCrunch

Source: Tencent (PDF)



via Engadget RSS Feed https://ift.tt/2KJXvSQ
RSS Feed

If New feed item from http://www.engadget.com/rss-full.xml, then send me

IFTTT

Comments

Post a Comment

Popular posts from this blog

Evernote cuts staff as user growth stalls

Image
Note-taking app Evernote has fallen on hard times of late, culminating in its latest spate of job cuts impacting 15 percent of its workforce (54 employees). CEO Chris O' Neil -- an ex-Googler who took the reins in 2015 -- announced the firings at an all-hands meeting earlier today, reports TechCrunch . In a message on the Evernote blog , O' Neill admitted he'd set "incredibly aggressive goals" for the company in 2018. He continued: "Going forward, we are streamlining certain functions, like sales, so we can continue to speed up and scale others, like product development and engineering." The layoffs follow an exec exodus just weeks ago and the company's recent brand refresh (complete with a refined logo and wordmark). But critics are more concerned about its product, especially the free tier, which they claim lacks the perks to...
Read more

The best air conditioner

Image
By Liam McCabe This post was done in partnership with Wirecutter . When readers choose to buy Wirecutter's independently chosen editorial picks, it may earn affiliate commissions that support its work. Read the full article here . After six summers of researching, testing, and recommending window air conditioners, we've learned that quiet and affordable ACs make most people the happiest—and we think the LG LW8016ER will fit the bill in most rooms. This 8,000 Btu unit cools as efficiently and effectively as any model with an equal Btu rating, and runs at a lower volume and deeper pitch than others at this price. Little extra features like a fresh-air vent, two-axis fan blades, and a removable drain plug help set it apart, too. The LG LW8016ER is a top choice for an office or den, and some people will find it quiet enough for a bedroom, too. If our main pic...
Read more

We won't see a 'universal' vape oil cartridge anytime soon

Image
Pre-loaded cartridges of cannabis concentrate are currently among the most popular means of consumption, and for good reason. They're discreet to use and easy to handle, a far cry from the dark days of 2016 when we had to dribble hash oil or load wax into narrow-mouthed vape pens by hand. But, frustratingly, an ever increasing number of oil cartridge manufacturers employ one-off design standards so that their products won't work with those of their competitors, thereby locking customers into proprietary ecosystems. We've already seen this with nicotine vaporizers -- which has a seen a massive rise in "pod systems" in the last few years, each outfitted with a unique canister and battery built to be incompatible with those of their competition. Is it too late for the burgeoning cannabis industry to set a universal standard for their product designs? ...
Read more