Manatt’s Jordan Bromley, a partner in the firm’s music practice, was interviewed by Billboard on Tencent Music Entertainment’s initial public offering.
The article reviewed trends surrounding Tencent’s public trading launch and highlighted unique attributes of the company. Unlike Western music streaming services such as Spotify and Apple Music, Tencent has a dissimilar product offering and business model since majority of its revenue does not come from paid subscriptions or advertising.
“We tend to talk about Spotify all the time, because they’re one of the first to market, and are currently the global market leader,” said Bromley. “But I think their model will be the exception rather than the rule for global streaming success, based on how things are shaping up.”
Read the article here.