NetEase’s music streaming service down for 2 hours after “infrastructure outages”
NetEase Cloud Music, the Hong Kong-listed Chinese music streaming service with more than 200 million monthly active users, reported a widespread outage lasting over two hours on Monday afternoon, blaming infrastructure problems. As of 3 p.m., users online reported that…
Falling revenues cause share price to fall by 15%
Tencent Music Entertainment shares fell 15% on Tuesday after declines in quarterly revenue and monthly active user numbers at the leading Chinese music streamer overshadowed higher profits and gains in paying subscribers. TME’s revenue of RMB 7.16 billion (US$985 million)…
