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Tencent Music Hits High Note With Strong Q4 Results, Boosts Shareholder Returns
Tencent Music Entertainment Group, China's dominant music streaming platform, has revealed robust fourth-quarter 2024 financial results.
TME’s board of directors approved an annual cash dividend of approximately $273 million for the year ended December 31, 2024, and authorized a new share repurchase program of up to $1 billion during a 24-month period beginning March 2025. TME also reported expanded partnerships with mapping services and electric vehicle manufacturers including BYD and XPENG to boost in-car music consumption. As part of its technological innovation, TME integrated DeepSeek LLM into song creation and launched virtual fan-artist communities for acts like JC-T and Teens in Times.
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