Spotify is not owned by Tencent. It’s publicly traded, and tencent owns part of it.
There are a lot of reasons to hate Spotify (and Daniel Ek) but this is not one of it.
The short version: Tencent Holdings is about to own 10 percent of Universal, which in turns owns around 3.5 percent in Spotify, which in turn owns around nine percent in Tencent Music Entertainment, which in turn is part-owned by Universal’s two main rivals (Warner and Sony), but remains majority owned by Tencent Holdings, which in turn owns 9.1 percent of Spotify. (And, yes, no kidding, that’s the short version.)
Spotify is not owned by Tencent. It’s publicly traded, and tencent owns part of it.
There are a lot of reasons to hate Spotify (and Daniel Ek) but this is not one of it.
https://www.rollingstone.com/pro/news/who-really-owns-spotify-955388/