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Tencent Music (TME.US) Joins Series B Financing of Soundtrack Producer for 'Kpop Demon Hunters'
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The Black Label, which produced the soundtrack for Netflix's hit animated film "Kpop Demon Hunters", completed a Series B financing round, with participation from South Korean gaming company Krafton and TME-SW (01698.HK)(TME.US). The company was valued at KRW1 trillion in this round. The funds raised will support its ambition to become a leading global entertainment company and achieve leapfrog growth. This investment marks another bet by TENCENT (00700.HK) on South Korean pop music. About a year ago, the company had poured approximately USD180 million in SM Entertainment, including initiatives to launch idol groups in China. TENCENT also holds a 4.3% stake in YG Entertainment and a 6% stake in South Korea's largest internet company, Kakao. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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