Music Business News: China

Tencent Music Entertainment reaches 85.3m paying music users, up 19.8% YoY

Tencent Music Entertainment has published its financial results for Q3 2022

TikTok cuts global revenue target for 2022 by $2bn (report)

Company reportedly initially expected revenue to range between $12bn and $14.5bn

Kuke, a classical music platform from China, is at risk of being delisted from the NYSE

Kuke launched its US listing in January 2021, raising $50m

Universal lands exclusive global publishing deal with China’s RYCE spanning 700+ songs

Deal also includes 'expansive' K-Pop song catalog rights across greater China region

Resso code hints at ‘TikTok Music’ global rollout preparation (report)

Code discovered within TikTok’s sister app Resso hints at further details about ByteDance's music app plans

Taylor Swift’s Midnights (3am Edition) has generated over $1.3m in sales on Tencent’s QQ Music in China

Midnights continues to perform well in China

Taylor Swift’s Midnights ‘priciest’ ever digital album sold by Tencent Music in China (report)

Midnights was released on Friday, October 21

TikTok parent sells 46,000 Pico VR headsets in China in race to beat Meta

ByteDance acquired Chinese VR headset maker Pico for an undisclosed amount last year