Tencent Music Entertainment (TME) Company Report

Tencent Music Entertainment Group reported total revenues of RMB8.46 billion (US$1.19 billion) for Q3 2025, marking a 20.6% year-over-year increase, primarily due to strong growth in online music services.
Net profit attributable to equity holders increased by 36.0% year-over-year to RMB2.15 billion (US$302 million).
Online music paying users grew by 5.6% year-over-year to 125.7 million, and Monthly ARPPU for online music increased by 10.2% to RMB11.9.
As of September 30, 2025, the company held RMB36.08 billion (US$5.07 billion) in cash, cash equivalents, term deposits, and short-term investments.

Nov 12, 2025, 11:07 AM

6-K

TME reports Q3 2025 results

TME

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Tencent Music Entertainment Group reported total revenues of RMB8.463 billion for Q3 2025 , with non-IFRS net profit reaching RMB2.48 billion, representing a 27.7% year-over-year increase.
The online music services segment generated RMB6.97 billion in revenue , driven by 125.7 million online music paying users and a monthly ARPPU of RMB11.9. The paying ratio stood at 22.8%.
The company maintained strong profitability with a gross margin of 43.5% and a solid cash position, including RMB36.08 billion in cash, cash equivalents, term deposits, and short-term investments as of September 30, 2025.

Nov 12, 2025, 11:00 AM

Presentation

Tencent Music Entertainment Group Reports Strong Q3 2025 Results

TME

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Tencent Music Entertainment Group (TME) reported total revenues of CNY 8.5 billion in Q3 2025, marking a 21% year-on-year increase and its highest revenue growth since Q1 2021.
Online music revenues grew 27% year-on-year to CNY 7 billion, with music subscription revenues increasing 70% year-on-year to RMB 4.5 billion, driven by a higher monthly ARPPU of RMB 11.9.
The company's gross margin improved to 43.5%, up 0.9 percentage points year-on-year, while net profit increased 29% to RMB 2.2 billion and Non-IFRS diluted EPS rose 33% to RMB 1.44.
Growth was significantly boosted by robust performance in offline concerts and artist-related merchandise sales, which delivered triple-digit year-on-year revenue growth.
TME continued to enrich its content offerings through strategic partnerships with labels like JYP Entertainment and game developers like Tencent Games and Blizzard, and successfully staged large-scale international concerts.

Nov 12, 2025, 11:00 AM

Transcript

Tencent Music Entertainment Group Reports Strong Q3 2025 Revenue Growth

TME

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Tencent Music Entertainment Group reported Q3 2025 total revenues of RMB 8.5 billion, a 21% year-on-year increase, marking its highest revenue growth since Q1 2021.
Online music revenues grew 27% year-on-year to RMB 7 billion, with music subscription revenues increasing 70% year-on-year to RMB 4.5 billion. Monthly ARPPU reached RMB 11.9, up from RMB 10.8 in the same period last year, primarily driven by the SVIP membership program.
The company is focused on enhancing user experience through AI integration, expanding its SVIP membership program, and strengthening artist-fan connections.
For 2025, TME expects strong performance in online music services and good revenue and profit growth, with 2026 projected to see sustained healthy growth in music subscriptions (at a slightly slower rate due to its high base) and faster growth in non-subscription businesses.
While initial investments in offline performances and artist merchandise may negatively impact gross profit margin, the company anticipates overall Q4 2025 gross profit margin to be elevated compared to Q3, and is confident in 2026 revenue and gross profit margin growth.

Nov 12, 2025, 11:00 AM

Transcript

Tencent Music Entertainment Group Announces Strong Q3 2025 Financial Results

TME

Earnings

Revenue Acceleration/Inflection

Guidance Update

Tencent Music Entertainment Group (TME) reported Q3 2025 total revenues of RMB 8.5 billion, a 21% year-on-year increase, with music subscription revenues growing 70% to RMB 4.5 billion and monthly ARPPU reaching RMB 11.9.
The company achieved a net profit of RMB 2.2 billion, up 29% year-on-year, and a non-IFRS net profit of RMB 2.5 billion, up 28% year-on-year.
Growth was underpinned by strong performance in online music, including content enrichment, successful large-scale concerts (e.g., G-Dragon tour), and increased artist partnerships, alongside continued AI integration to enhance user experience and drive SVIP adoption.
TME expects continued strong performance in Q4 2025 and anticipates sustained healthy growth in 2026, with non-subscription businesses projected to grow faster than subscription services, and overall confidence in revenue and gross profit margin growth.

Nov 12, 2025, 11:00 AM

Transcript

Tencent Music Entertainment Group Announces Third Quarter 2025 Unaudited Financial Results

TME

Earnings

Revenue Acceleration/Inflection

Tencent Music Entertainment Group reported total revenues of RMB8.46 billion (US$1.19 billion) for the third quarter ended September 30, 2025, marking a 20.6% year-over-year increase, primarily driven by strong growth in online music services.
Net profit attributable to equity holders increased 36.0% year-over-year to RMB2.15 billion (US$302 million), with Non-IFRS diluted earnings per ADS reaching RMB1.54 (US$0.22).
Revenues from online music services grew 27.2% year-over-year to RMB6.97 billion (US$979 million), supported by a 5.6% increase in online music paying users to 125.7 million and a 10.2% rise in Monthly ARPPU to RMB11.9.
As of September 30, 2025, the company maintained a strong financial position with total cash, cash equivalents, term deposits and short-term investments amounting to RMB36.08 billion (US$5.07 billion).

Nov 12, 2025, 9:00 AM

Press Release

Tencent Music Entertainment Group Reports Strong Q2 2025 Results and Raises Full-Year Revenue Outlook

TME

Earnings

Revenue Acceleration/Inflection

Guidance Update

Tencent Music Entertainment Group (TME) reported strong Q2 2025 results, with total revenues reaching a record high of RMB8.4 billion, an 18% year-over-year increase.
Online music revenues grew 26% year-on-year to RMB6.9 billion, primarily driven by a 17% increase in music subscription revenues to RMB4.4 billion.
Net profit increased by 38% to RMB2.5 billion, and non-IFRS net profit reached a historical high of RMB2.6 billion, up 33%. Diluted earnings per ADS were RMB1.55, a 45% year-over-year increase.
The company's overall subscriber base exceeded 124,000,000, with SYP subscribers reaching over 15,000,000, and monthly ARPPU increased to RMB11.7.
For the full year 2025, TME expects revenue to be higher than previous expectations with further bottom line improvement, driven by solid performance in music subscription, advertising, and new revenue streams from concerts and artist merchandise.

Aug 12, 2025, 2:35 PM

Tencent Music Announces Acquisition of Ximalaya Inc.

TME

M&A

Tencent Music Entertainment Group announced a proposed acquisition of Ximalaya Inc., which will become a wholly owned subsidiary upon closing.
The transaction involves a cash payment of US$1,260,000,000, issuance of stock up to 5.1986% of total shares, and additional shares up to 0.37% for founder shareholders.
The acquisition is subject to regulatory approvals and other closing conditions as outlined in the Merger Agreement (June 10, 2025).

Jun 10, 2025, 12:00 AM

6-K

Tencent Music Entertainment Group Reports Strong Q1 2025 Results

TME

Earnings

Revenue Acceleration/Inflection

Guidance Update

Share Buyback

Dividends

Revenue increased to RMB 7.4 billion (≈US$1.01 billion), up approximately +9% YoY, driven by robust online music services and subscriptions
Net profit reached approximately RMB 4.4 billion, marking strong year-over-year improvement
Improved profitability with a gross margin of 44.1% (up 3.2 pts YoY) and a reduced operating expense ratio of 15.5%
Enhanced operational performance with increased monthly ARPPU to RMB11.4, complemented by a share buyback program and dividend declaration
Strategic initiatives include renewed multiyear contracts with key partners like Sony Music Entertainment and expansion into immersive audio features and interactive advertising
Positive outlook for 2025 driven by subscription gains, ARPPU expansion, and further investments in international markets and live events

May 13, 2025, 11:01 AM

Transcript Press Release

Tencent Music to Report Q1 2025 Earnings

TME

Earnings

Tencent Music Entertainment Group (TME) will report its unaudited Q1 2025 financial results on May 13, 2025 before the U.S. market opens.
A Tencent Meeting Webinar will be held on May 13, 2025 at 7:00 A.M. Eastern Time / 7:00 P.M. Beijing/Hong Kong Time to review the company’s performance.
The board will consider and vote on the Q1 2025 results, with the announcement to be uploaded post-trading hours on May 13, 2025.

Apr 15, 2025, 12:00 AM

6-K