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MarketScreener Homepage  >  Equities  >  Nyse  >  Tencent Music Entertainment Group    TME

TENCENT MUSIC ENTERTAINMENT GROUP

(TME)
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Tencent Music Entertainment : Universal Music Group Establish JV in China

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08/10/2020 | 05:27pm EDT

By Stephen Nakrosis

Tencent Music Entertainment Group and Universal Music Group said Monday they would be forming a joint venture music label to develop and showcase domestic artists in China.

The two companies also announced a multi-year extension of their licensing agreement.

The extended licensing agreement will see Tencent Music continue to distribute music from Universal across its platforms, including QQ Music, Kugou Music and Kuwo Music, and also license content for its online karaoke platform, WeSing.

"UMG and TME have been working closely to reinforce a sustainable music licensing ecosystem in order to help support the industry's evolution in China," the companies said.

 

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
TENCENT HOLDINGS LIMITED -0.30% 503.5 End-of-day quote.34.05%
TENCENT MUSIC ENTERTAINMENT GROUP -1.49% 14.5 Delayed Quote.23.51%
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Financials
Sales 2020 29 069 M 4 261 M 4 261 M
Net income 2020 3 837 M 562 M 562 M
Net cash 2020 21 489 M 3 150 M 3 150 M
P/E ratio 2020 43,3x
Yield 2020 -
Capitalization 166 B 24 324 M 24 324 M
EV / Sales 2020 4,97x
EV / Sales 2021 3,86x
Nbr of Employees 3 610
Free-Float 36,1%
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Technical analysis trends TENCENT MUSIC ENTERTAINMENT GROUP
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 23
Average target price 124,25 CNY
Last Close Price 98,92 CNY
Spread / Highest target 40,5%
Spread / Average Target 25,6%
Spread / Lowest Target -1,23%
EPS Revisions
Managers
NameTitle
Kar Shun Pang Chief Executive Officer & Director
Zhen Yu Xie President, Director & Chief Technology Officer
Tao Sang Tong Chairman
Min Hu Chief Financial Officer
Li Ang Tang Independent Director
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1st jan.Capitalization (M$)
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