$Tencent Music(TME)$ just dropped a cool $2.4B to acquire Ximalaya which China’s top podcast/audio platform. Feels like they’re going full throttle toward becoming the " $Spotify Technology S.A.(SPOT)$ of China", not just music but the whole audio content ecosystem.
And here’s the kicker: Tencent already owns over 8% of Spotify itself, so this play has been in the works for a while. Personally, I’m holding. If the integration plays out well, this could be a serious re-rating trigger. Let’s see how it goes!
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