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In The Know: SoStereo's Weekly Music News Summary November 23, 2018

SoStereo's weekly music news summary with a possible delay for Tencent Music's IPO, Instagram cracking down on fakes and more.
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Tencent Music IPO Reportedly Could Be Pushed To 2019:

Tencent Music was originally scheduled to IPO in the United States in October, but decided to delay that until November to let the markets settle. The stock market is still quite volatile and weak at the moment, so according to Reuters, the company is weighing its options and may push the IPO until early 2019. The streaming giant has 800 million users and would hope for an IPO of up to $2 billion.

Instagram Cracks Down On Fake Likes & Followers:

Instagram is trying to make its experience a little better by cracking down on those who use spammy, third-party apps that leave generic spam comments or follow and then unfollow people in the hopes of growing an audience. The social media platforms says they have built machine-learning tools to identify accounts using those apps and displaying that behavior. They have alerted accounts using those apps will have their likes, followers and comments removed. The accounts will also have to change their password. Instagram is trying to discourage users from using those apps and say going forward, accounts “may see their Instagram experience impacted” as a result of using one.

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Pandora Premium Now Streamable On Amazon Echo Devices:

Pandora Premium is now available to stream on Amazon echo devices including Echo, Echo Dot, and Echo Show, “just in time for the holidays” they say in a blog post. Pandora’s ad-supported and Plus tiers have been available on Amazon since 2014, but this brings in the Premium users.

Mexico City Is Spotify’s Streaming Capitol Of The World:

With an American, Euro-centric view of the music business, one might think that New York, LA or London would be the capitol of music. But on Spotify, Mexico City is where the most streams come from. With a population of 22 million and rising, the city has the most listeners globally, ahead of Santiago, Chile and New York City according to the service. Spotify was launched in Mexico City in 2013 and quickly became one of its biggest markets. According to Spotify data, artists like The Pixies and Gorillaz saw huge bumps in their listener numbers after touring in Mexico City. Mexico City is a big fan of alt-rock, as well as, classic rock. 

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