A long-term shift towards subscriptions can’t come fast enough for Tencent Music Entertainment, China’s largest digital music company and stakeholder in Spotify and Universal Music. Revenues and net profits in the six months to June, the company’s first half year, were both down, as weaker advertising and lower music sales undermined the period.

Topics:  tencent   entertainment   china s   spotify   universal   june   music   subscriptions   company   
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