Dec 01, 2021 06:31 PM

Cloud Village Takes Rivalry With Tencent Music to the Market

Photo: VCG
Photo: VCG

(Nikkei Asia) — Cloud Village, the top rival of Tencent Music Entertainment, is hoping that sales of gifts for livestreamers and other social entertainment services can help bring an end to years of losses.

The music streaming unit of Chinese gaming group NetEase is to make its market debut in Hong Kong on Thursday after raising $422 million in an initial public offering.

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