Equity Analyst, LightStream Research

Shifara Samsudeen, ACMA, CGMA

A chartered management accountant with more than 10 years of rich experience in investment research and financial analysis. Worked as an equity analyst for one of the world's largest asset managers with USD2.5trn in AUM covering numerous sectors including chemicals, retail, tech, autos, telco, real-estate and banks, globally. Experienced in fundamental equity research, industry research, commodity studies, forensic accounting, and due diligence reviews.

Equity Analyst

Novotech Health IPO: Structural Tailwinds in the APAC Biotech CRO Market Offers LT Growth

Broncus Holdings IPO: Say No to Lung Diseases

EDDA Healthcare IPO: Surgical Robots Show Strong Growth Prospects

Kuaishou: Livestreaming Continues to Decelerate, Losses Widen; No Disclosure on Paying User Numbers

TME: May Have to Giveup Exclusive Rights to Music Labels but Unlikely to Be Ordered to Sell Key Apps

TME: Says Order on Music Rights Have Some Impact but User No’s and ARPPU Already Under Pressure

Gravity Works As WeWork Doesn't; Now Plan B

Bifurcated Chinese Express Market Developing

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Event-Driven

<a href="https://www.smartkarma.com/entities/tencent-music-entertainment" target="_blank" data-smartkarma-citation="entities:27255:1" rel="noopener">Tencent Music (TME US)</a> announced on Tuesday (31st August) that it has relinquished all of its exclusive music licensing agreements as per the order of the Chinese regulators. It was reported by several news media outlets in July that that the State Administration of Market Regulation (SAMR) in China is likely to order <a href="https://www.smartkarma.com/entities/tencent-music-entertainment" target="_blank" data-smartkarma-citation="entities:27255:1" rel="noopener">Tencent Music (TME US)</a> to give up exclusive rights to music labels and at the same time, impose a fine of RMB500,000 (US$77k) for failing to appropriately report the acquisitions of Kugou and Kuwo in 2016.TME previously had exclusive music licensing agreements with global music streaming giants Warner Music Group (WMG), Universal Music (UMG) and Sony Music in China. The company also previously had exclusive rights to sub-license these catalogs to local rivals in China.TME’s partnerships with these leading music labels have offered the company the content leadership position in music streaming in China. In addition to having exclusive rights to music labels, the company also has established exclusive distribution deals with leading independent artists such as Mandopop Star Jay Chou to further its growth and under the SAMR’s new mandate, TME is allowed to keep its exclusive music deals with these independent artists for a period of 3-years.

Tencent Music (TME US) announced on Tuesday (31st August) that it has relinquished all of its exclusive music licensing agreements as per the order of the Chinese regulators. It was reported by several news media outlets in July that that the State Administration of Market Regulation (SAMR) in China is likely to order Tencent Music (TME US) to give up exclusive rights to music labels and at the same time, impose a fine of RMB500,000 (US$77k) for failing to appropriately report the acquisitions of Kugou and Kuwo in 2016.TME previously had exclusive music licensing agreements with global music streaming giants Warner Music Group (WMG), Universal Music (UMG) and Sony Music in China. The company also previously had exclusive rights to sub-license these catalogs to local rivals in China.TME’s partnerships with these leading music labels have offered the company the content leadership position in music streaming in China. In addition to having exclusive rights to music labels, the company also has established exclusive distribution deals with leading independent artists such as Mandopop Star Jay Chou to further its growth and under the SAMR’s new mandate, TME is allowed to keep its exclusive music deals with these independent artists for a period of 3-years.

TME Facing the Music; Ends Exclusive Music Licensing Deals