On September 1, 2013, Tencent Music Entertainment Group (TME) will conduct a new round of financing before the IPO, with an amount of US$300 million. After completion, TME's total valuation will reach US$10 billion.
In addition, Tencent Music also plans to sell approximately 3% of its shares to strategic partners including record labels.
Tencent Music launched its plan to list in Hong Kong in April 2013, and in May it won the exclusive copyright of Universal Music for US$3.5 billion. In August, it had a copyright dispute with NetEase Cloud Music, and then conducted a new round of financing to increase its valuation. It seemed that it was all planning ahead for the IPO.
The copyright dispute between Tencent Music and NetEase Cloud Music also pushes the disadvantages of the copyright war between domestic online music platforms into the public's vision.
In May 2013, Universal Music was looking for a new round of partners in China.
As the world's largest record company, Universal Music accounts for 256% of the world's record market, becoming a must-fight place for online music platforms.
According to media reports, Tencent, NetEase, Baidu and Alibaba all participated in this copyright competition.
Initially, Global's licensing fee quotes were only $3,000 to $3.5 billion in bidding and $100 million in cash, with the lowest bid of $2.4 billion.
In the end, Tencent Music took the lead. Although it stated that it would transfer copyrights, the fees, conditions and objects of the transfer were all vague and there was no conclusion. In the end, 95% of the copyright was authorized, and only 5% was retained.
If you know it, you will know that there are actually only a few hundred true golden songs, so the quality is the key, and this 5% happens to be the highest quality part.
The copyright transfer of the domestic music market began in 2011, when the music market fell into chaos due to the copyright dispute over online music platforms.
In October 2011, Tencent Music (also still QQ Music) and NetEase Cloud Music reached a copyright sublicense agreement, involving the music copyright of 1.5 million songs.
The sublicensing cooperation model protects the legitimate rights and interests of copyright owners, broadens the channels for dissemination of music works, and prevents monopoly behavior in the music market. It not only resolves the copyright dispute between the two parties at that time, but also brings new development ideas to the copyright operation model.
With the transfer of copyright, online music platforms ushered in a new round of reshuffle, exclusive copyrights have also been reintegrated, and the strength comparison of various companies has undergone new changes.
Unfortunately, everyone underestimated Tencent’s ambitions, underestimated the power of capital, and overestimated their lower limit. You plan to make everyone’s fireworks and make the cake market bigger and bigger, but the capital led by Tencent only wants to monopolize nakedly and make money by copyright.
In 2014, QQ Music and China Music Group merged into Tencent Music Entertainment Group, and the China Music Group includes two major platforms: Kugou Music and Kuwo Music.
Baidu Music and Taihe Music merged; Alibaba Music integrates Xiami Music and Tiantian Mengting, and has launched a new product Alibaba Planet; NetEase Cloud Music emerged as a new force with its products + playlist + music reviews.
It seems to be a separatist, but it is indeed the only one. The merged Tencent Music Group has exclusive copyrights and digital distribution rights in China, including Global, Warner, Sony, Huayi Brothers, and South Korea YG Entertainment.
The exclusive music copyright of almost all popular songs in the domestic music market is taken over by it, becoming the strongest party in the online music platform.
Originally, many people thought that this would be a landmark event in the rise of Chinese music. The emergence of giants, the integration of resources, and the strengthening of copyright awareness, Chinese music will soon usher in a great revival, just like Apple launched the online music store iTunes to save European and American pop music, revitalizing the entire Chinese music scene.
Unfortunately, Tencent is not Apple, and it cannot become Apple. It is just capital and an industrial cancer. Doing this is not to develop Chinese music and bring Chinese music to the world, but to better monopoly and carry out subsequent capital harvesting.
How can copyright become valuable and become more valuable?
Of course, the value and scarcity of these copyrights are guaranteed during the validity period of the copyright. If good classic songs continue to appear, these old copyrights will certainly become less valuable and few people listen to them. How can you make money with them?
The best way is not to give new songs a chance to be released, so that everyone can only remember the past, indulge in the glory and classics of the past, and then pay honestly, otherwise you will not even have to listen to old songs.
So the current Chinese music scene suddenly appeared in a crazy depravity that everyone had unexpectedly expected. When Wu Mingxuan crossed the border and remembered to make original music, he was surprised to find that the Chinese music scene had been ruined by Tencent. The current ecological environment is extremely harsh, and there is almost no living space for original musicians and newcomers.
It's not because Wu Mingxuan is careless. He is not a member of the music circle and he really doesn't know about the music circle. He knows that the next few popular new singers, some internet celebrity songs on Douyin, and others are ignorant, so he doesn't know Tencent's ruthless behavior in music.
Wu Mingxuan knows a little about the film and television industry, but Tencent has not yet taken shape when he traveled through time, so it is not so obvious. However, the music industry has really taken shape and the harm has been formed. The ecological environment of the entire circle can be said to be extremely harsh.
Wu Mingxuan took this situation very seriously. He hurriedly called senior executives of various departments of the company to have a meeting to discuss whether to officially enter the music industry and gain a way out for Chinese music original music. Otherwise, if Tencent continues to continue, there will be no Chinese music anymore.
No one knows what Perfect discussed at the meeting, but Tencent Music was facing a great enemy after learning the news. Many senior executives within Tencent complained about Wu Mingxuan, a major shareholder who never did serious business and often sabotaged the situation. It can be said that he has reached the limit of tolerance.
Many senior executives even directly asked Ma Huateng to force the palace, asking him to invite other major shareholders to hold a shareholder meeting, fire Wu Mingxuan, a black sheep, and let him spit out the Tencent shares in his hands. He is not worthy of being the major shareholder, otherwise they would advance the huge salary in advance, and significantly increase the performance bonus later, and do not pay dividends to shareholders as much as possible.
Perlima is not stupid, so how could he not see these people’s little thoughts? But this is also very beneficial to him, so he went with the flow. Anyway, Tencent’s other two shareholders, one is the Ye family and the other is the ICBC. If you decide this, the two companies will naturally have a lot of opinions.
Although he had expected this day to come, Wu Mingxuan did not expect it to come so quickly. Although he didn't want to reveal his true financial resources so early, he would be unable to be forced to do so if he was forced to do so. Anyway, he would be invincible until the end of next year's election.
In addition, Tencent Music also plans to sell approximately 3% of its shares to strategic partners including record labels.
Tencent Music launched its plan to list in Hong Kong in April 2013, and in May it won the exclusive copyright of Universal Music for US$3.5 billion. In August, it had a copyright dispute with NetEase Cloud Music, and then conducted a new round of financing to increase its valuation. It seemed that it was all planning ahead for the IPO.
The copyright dispute between Tencent Music and NetEase Cloud Music also pushes the disadvantages of the copyright war between domestic online music platforms into the public's vision.
In May 2013, Universal Music was looking for a new round of partners in China.
As the world's largest record company, Universal Music accounts for 256% of the world's record market, becoming a must-fight place for online music platforms.
According to media reports, Tencent, NetEase, Baidu and Alibaba all participated in this copyright competition.
Initially, Global's licensing fee quotes were only $3,000 to $3.5 billion in bidding and $100 million in cash, with the lowest bid of $2.4 billion.
In the end, Tencent Music took the lead. Although it stated that it would transfer copyrights, the fees, conditions and objects of the transfer were all vague and there was no conclusion. In the end, 95% of the copyright was authorized, and only 5% was retained.
If you know it, you will know that there are actually only a few hundred true golden songs, so the quality is the key, and this 5% happens to be the highest quality part.
The copyright transfer of the domestic music market began in 2011, when the music market fell into chaos due to the copyright dispute over online music platforms.
In October 2011, Tencent Music (also still QQ Music) and NetEase Cloud Music reached a copyright sublicense agreement, involving the music copyright of 1.5 million songs.
The sublicensing cooperation model protects the legitimate rights and interests of copyright owners, broadens the channels for dissemination of music works, and prevents monopoly behavior in the music market. It not only resolves the copyright dispute between the two parties at that time, but also brings new development ideas to the copyright operation model.
With the transfer of copyright, online music platforms ushered in a new round of reshuffle, exclusive copyrights have also been reintegrated, and the strength comparison of various companies has undergone new changes.
Unfortunately, everyone underestimated Tencent’s ambitions, underestimated the power of capital, and overestimated their lower limit. You plan to make everyone’s fireworks and make the cake market bigger and bigger, but the capital led by Tencent only wants to monopolize nakedly and make money by copyright.
In 2014, QQ Music and China Music Group merged into Tencent Music Entertainment Group, and the China Music Group includes two major platforms: Kugou Music and Kuwo Music.
Baidu Music and Taihe Music merged; Alibaba Music integrates Xiami Music and Tiantian Mengting, and has launched a new product Alibaba Planet; NetEase Cloud Music emerged as a new force with its products + playlist + music reviews.
It seems to be a separatist, but it is indeed the only one. The merged Tencent Music Group has exclusive copyrights and digital distribution rights in China, including Global, Warner, Sony, Huayi Brothers, and South Korea YG Entertainment.
The exclusive music copyright of almost all popular songs in the domestic music market is taken over by it, becoming the strongest party in the online music platform.
Originally, many people thought that this would be a landmark event in the rise of Chinese music. The emergence of giants, the integration of resources, and the strengthening of copyright awareness, Chinese music will soon usher in a great revival, just like Apple launched the online music store iTunes to save European and American pop music, revitalizing the entire Chinese music scene.
Unfortunately, Tencent is not Apple, and it cannot become Apple. It is just capital and an industrial cancer. Doing this is not to develop Chinese music and bring Chinese music to the world, but to better monopoly and carry out subsequent capital harvesting.
How can copyright become valuable and become more valuable?
Of course, the value and scarcity of these copyrights are guaranteed during the validity period of the copyright. If good classic songs continue to appear, these old copyrights will certainly become less valuable and few people listen to them. How can you make money with them?
The best way is not to give new songs a chance to be released, so that everyone can only remember the past, indulge in the glory and classics of the past, and then pay honestly, otherwise you will not even have to listen to old songs.
So the current Chinese music scene suddenly appeared in a crazy depravity that everyone had unexpectedly expected. When Wu Mingxuan crossed the border and remembered to make original music, he was surprised to find that the Chinese music scene had been ruined by Tencent. The current ecological environment is extremely harsh, and there is almost no living space for original musicians and newcomers.
It's not because Wu Mingxuan is careless. He is not a member of the music circle and he really doesn't know about the music circle. He knows that the next few popular new singers, some internet celebrity songs on Douyin, and others are ignorant, so he doesn't know Tencent's ruthless behavior in music.
Wu Mingxuan knows a little about the film and television industry, but Tencent has not yet taken shape when he traveled through time, so it is not so obvious. However, the music industry has really taken shape and the harm has been formed. The ecological environment of the entire circle can be said to be extremely harsh.
Wu Mingxuan took this situation very seriously. He hurriedly called senior executives of various departments of the company to have a meeting to discuss whether to officially enter the music industry and gain a way out for Chinese music original music. Otherwise, if Tencent continues to continue, there will be no Chinese music anymore.
No one knows what Perfect discussed at the meeting, but Tencent Music was facing a great enemy after learning the news. Many senior executives within Tencent complained about Wu Mingxuan, a major shareholder who never did serious business and often sabotaged the situation. It can be said that he has reached the limit of tolerance.
Many senior executives even directly asked Ma Huateng to force the palace, asking him to invite other major shareholders to hold a shareholder meeting, fire Wu Mingxuan, a black sheep, and let him spit out the Tencent shares in his hands. He is not worthy of being the major shareholder, otherwise they would advance the huge salary in advance, and significantly increase the performance bonus later, and do not pay dividends to shareholders as much as possible.
Perlima is not stupid, so how could he not see these people’s little thoughts? But this is also very beneficial to him, so he went with the flow. Anyway, Tencent’s other two shareholders, one is the Ye family and the other is the ICBC. If you decide this, the two companies will naturally have a lot of opinions.
Although he had expected this day to come, Wu Mingxuan did not expect it to come so quickly. Although he didn't want to reveal his true financial resources so early, he would be unable to be forced to do so if he was forced to do so. Anyway, he would be invincible until the end of next year's election.
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