MOG to be Purchased by Beats Electronics

It seems as though Beats Electronics (Headphone maker) is just about to acquire MOG (the popular US based music streaming service). Sources are saying the deal hasnt closed, but it is very close according to Boomtown.

MOG currently has over 500,000 active users, but they seem to be falling behind Spotify and Rdio (who lead the market). MOG is also only available in the USA, unlike competitors who are spreading their wings around the world.

p.s. Beats’ majority owner is HTC, the Taiwanese cellphone maker, which put $300 million into the company last year.

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Tencent Music’s Q2 financial results show 47.1m paying music users

Tencent publish their Q2 financial results, showing very impressive subscriber, revenue and profit growth in 2020. Tencent Music Entertainment’s Q2 financial highlights are as follows: Online music paying users grew 51.9% year-over-year to 47.1 million,…