Tencent has acquired China Music in a $ some $2.7 billion takeover, making Tencent China's largest online music player, with 50% of the user base and 60% of available music rights. That could allow it to increase the pace of transition from a music marketplace dominated by free and piracy to a paid for one Want to read more articles like this one? China Music operates Kugou and Kuwu , the country's top and second -placed music platforms, while Tencent China's held second place. The deal will see Kugou 's music marketplace move to a paid-for service.
Tencent has acquired China Music in a $ some $2.7 billion takeover, making Tencent China's largest online music player, with 50% of the user base and 60% of available music rights. China Music operates Kugou and Kuwu , the country's top and second -placed music platforms, while Tencent China's held second place. The deal will see Kugou 's music marketplace move to a paid-for service.