T.H. Capital - Tencent Music Entertainment Group Sponsored ADR Class A (TME) T. H. Data Flash â€“ Tencent Music â€“ November 4Q19E: Increasing Pressures From Rising Vendors On Live Broadcasting; Paying Music Needs More Time And Hit Exclusives

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T.H. Capital

Tian Hou

EUR 235.08 For Business Accounts Only

T. H. Data Flash â€“ Tencent Music â€“ November & 4Q19E: Increasing Pressures From Rising Vendors On Live Broadcasting; Paying Music Needs More Time And Hit Exclusives

While TME is a monopoly in China’s online music area, the company only monopolizes one of the verticals under a vast entertainment umbrella. Competition from the market is not from a vendor doing the same thing, but rather from vendors that are doing different things. In the case of live broadcasting, while TME as a newcomer put pressure on YY.com (YY, $56.70, Buy) in 2016 and 2017, presently, newcomers Kwai and ByteDance are presenting pressure on existing companies including TME and several other broadcasting vendors.

19/12/2019 6 EN

Underlying

Tencent Music Entertainment Group Sponsored ADR Class A

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US88034P1093 New York Stock Exchange Cayman Islands

Provider

T.H. Capital

T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.

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Analysts

Tian Hou

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T. H. Data Flash â€“ Tencent Music â€“ November & 4Q19E: Increasing Pressures From Rising Vendors On Live Broadcasting; Paying Music Needs More Time And Hit Exclusives

TME: Increase In Paying Users Drive Solid Online Music Service Performance In 2Q23

TENCENT MUSIC ENTER sees a downgrade to Negative on account of less fundamental stars

TME: Copyright Issues Had Limited Impact On Music Services; Expecting Better Growth of Music Subscribers In 3Q21 While Live Streaming Is Stalled

ZTO: Positive On 4Q23 Performance And 2024 Outlook As China’s Economy Is Coming Out Of Its Bottom

PDD: Positive On 4Q23 Performance Driven By Growth From Temu

BEKE Positive On BEKE’s 4Q23 Earnings, But China’s Property Market Remains Grim

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