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Tencent Music Enjoys Streaming Growth as Social Side Continues Slide
China's leading digital music group Tencent Music enjoyed a quarter in which streaming growth outweighed a depressed social entertainment side.
We are encouraged by the growing synergies between our platform and well-established content ecosystem, which have become a vital force in empowering us to seize new opportunities for long-term, sustainable growth,” said Cussion Pang, executive chairman. “This quarter’s robust music subscription performance, with better-than-expected net subscriber additions and an expanding ARPPU, highlights the effectiveness of our balanced approach to achieve growth, which is important to drive paying user base expansion in the coming years. By offering enriched and differentiated user privileges, our value proposition for more premium memberships has been well accepted, cultivating greater loyalty on our platform,” said Ross Liang, CEO.
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