Tencent Music Entertainment Group

TME

Tencent Music Entertainment Group (TME) is a company that develops music streaming services for the Chinese market. This is a joint venture between Tencent and Spotify. Their apps include QQ Music, Kugou, Kuwo, WeSing and Ultimate Music; which have more than 800 million active users and 120 million paying subscribers. As of July 2016, Tencent Music's three services held an estimated 56% market share of music streaming services in China.

Tencent Music Entertainment Group has been a target of short sellers for a while. The current short interest of 4.39% is roughly at the average of the last 12 months (2.77%).