Zhi Yi Chen's questions to Tencent Music Entertainment Group (TME) leadership • Q1 2025
Question
Zhi Yi Chen of Haitong International inquired about Tencent Music's outlook for top-line revenue and profit growth for the upcoming quarter and the full year 2025.
Answer
Executive Chairman Kar Shun Pang stated that TME expects its full-year 2025 year-over-year growth rate to accelerate from the previous year, accompanied by continued margin expansion. He emphasized that the music subscription business remains the cornerstone, with the SVIP program enhancing user engagement and ARPPU, while non-subscription areas like advertising and merchandise are also poised for growth.