How Tencent Music’s Problems Ripple Through the Business Worldwide

When Chinese antitrust regulators sneeze, the music business catches a cold.
Beijing has been cracking down on technology companies, and on July 24, the government gave Tencent Music, the country’s largest audio-streaming company, 30 days to end the exclusive licensing deals that allow it to offer songs that competitors can’t. Months before, another regulator announced an effort to curb online tipping, a major source of revenue for Tencent Music, which takes a percentage of the money