Oct 03, 1:15 AM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Evan Niu 10/03/18 AT 1:14 AM Spotify (NYSE:SPOT) may be the global music-streaming leader in terms of paid subscribers, but when it comes to the overall user base, no one comes close to Tencent Music. Over the summer, reports surfaced that Tencent Music was preparing to go public, which would actually benefit Spotify because the two companies did an equity swap last year. Tencent Music, which is a subsidiary of Tencent (NASDAQOTH:TCEHY), has now officially filed to go public in the U.S.This article originally appeared in the Motley Fool.Here’s what investors need to know.Digging into the businessThe F-1 Registration Statement gives investors the first glimpse at its books, providing quite a few notable takeaways about the global music-streaming market. Tencent Music operates numerous platforms for music streaming and music-centric social entertainment, with QQ Music, Kugou Music, Kuwo Music, and WeSing being the most prominent. The vast majority of mobile monthly active users (MAUs) are free, ad-supported users. Here’s a snapshot of the user base: Data Source: F-1. ARPU = average revenue per user. ARPU figures translated from Yuan to U.S. dollars based on current exchange rates. Photo: The Motley Fool Note that Tencent Music only counts… Read full this story
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