T. H. Data Flash – Tencent Music – 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.
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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