Tencent Music Entertainment is looking to follow the “Spotify model” and convince music fans in China to pay, its chief executive has said.
Speaking after the company’s debut on the New York Stock Exchange, Cussion Pang and Tony Yip, chief strategy officer, dismissed fears that Spotify’s plunging stock price was a bad omen for TME’s prospects on the public market.
TME entered life as a public company on Wednesday amid a months-longsell-off in technology stocks, including Spotify, which pioneered the model for paid music streaming TME aims to emulate.
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