News Snapshot:
Tencent Music's Revenue Beats View As More Chinese Users Pay For Songs China's Tencent Music Entertainment Group bettered quarterly revenue estimates on Monday as a slate of original content helped its music streaming platform attract more paying users. The company's U.S. shares rose 5.9% in extended trading after it said users who paid for online music jumped by a quarter to 82.7 million. Music subscription revenue of the platform that operates like Spotify rose 18%. Tencent Music also benefited from a push for original content, including a partnership with parent Tencent Holdings to produce songs from popular game titles. Its...
