Tencent Music posts solid Q1 as online subscriptions offset social decline
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- TechNode.com
Tencent Music Entertainment Group (TME), the music streaming division of Tencent, announced its financial results for the first quarter of 2025, revealing a revenue of RMB 7.36 billion (approximately $1.01 billion). This figure marks an 8.7% increase compared to the same period last year, primarily fueled by a significant rise in online music subscriptions. Revenue from music services alone saw a nearly 16% growth, reaching RMB 5.8 billion (around $800 million). However, the company experienced a decline in revenue from its social entertainment segment, indicating a mixed performance across its business lines. The results reflect TME's ongoing efforts to expand its music subscription base amidst a competitive streaming landscape.
Original report
Tencent Music posts solid Q1 as online subscriptions offset social decline
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