In response to the Tencent and China Music Corporation merger, major competitor Netease Cloud Music may raise new funds, selling off a 12%-15% of its equity.
Tag: online music
Chinese authorities will pass a bylaw to regulate China’s online music industry, likely to impact enormous Chinese online music industry, valuated at USD 47 billion.
In a China-first Tencent’s QQ Music will form a sublicensing arrangement with NetEase’s Cloud Music in a bid to boost NetEase’s online music catalogue.