Not only did Tencent Music do a 10% equity swap deal with Spotify in December 2017, it recently led the investment round for the India-based streaming service Gaana for a whopping $115 million. This means Tencent can expand across Asia, Europe and the Americas now that it has major streaming stakes.
A global network of strategic positions in the streaming market is what Tencent is creating, with the role of kingmaker in the future of digital media guaranteed thanks to this positioning.
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NetEase Cloud Music is a Chinese freemium music streaming service.