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Tencent Music’s Streaming Subscriptions Jump 17%, Driving Strong Profit and Revenue Growth
Tencent Music Entertainment's Q1 2025 earnings show that revenue was up 8.7% to $1 billion, while net profit climbed 201% to $591 million.
“With the sound foundations we have built, a thriving music ecosystem, and healthy financial position, we are well equipped to navigate global uncertainties,” TME’s executive chairman Cussion Pang said in a statement. The strength in subscription revenues drove TME’s gross margin to 44.1% from 40.9%, with a total operating profit of RMB4.84 billion (US$666 million) in the first quarter of 2025, a whopping 146.9% increase from a year ago. The company also said it received 2% equity stake in Universal Music Group in March as a result of a “distribution-in-kind from one of our associates” worth RMB2.37 billion (US$327 million).
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