SHENZHEN, China, Nov. 12, 2024 /PRNewswire/ -- Tencent Music Entertainment Group ("TME," or the "Company") (NYSE: TME and HKEX: 1698), the leading online music and audio entertainment platform in China, today announced its unaudited financial results for the third quarter ended September 30, 2024.

Third Quarter 2024 Financial Highlights

Total revenues were RMB7.02 billion (US$1.0 billion), representing a 6.8% year-over-year increase, primarily due to strong year-over-year growth in revenues from online music services, and partially offset by a decline in revenues from social entertainment services and others.Revenues from music subscriptions were RMB3.84 billion (US$547 million), representing 20.3% year-over-year growth. The number of paying users increased by 15.5% year-over-year to 119.0 million, up by 2.0 million from the second quarter of 2024. ARPPU grew 4.9% year-over-year to RMB10.8.Net profit was RMB1.71 billion (US$244 million), representing 35.3% year-over-year growth. Net profit attributable to equity holders of the Company was RMB1.58 billion (US$226 million), representing 35.5% year-over-year growth. Non-IFRS net profit[1] was RMB1.94 billion (US$276 million), representing 29.1% year-over-year growth. Non-IFRS net profit attributable to equity holders of the Company[1] was RMB1.81 billion (US$258 million), representing 28.8% year-over-year growth.Diluted earnings per ADS was RMB1.01 (US$0.14), up from RMB0.74 in the same period of 2023.Total cash, cash equivalents, term deposits and short-term investments as of September 30, 2024 were RMB36.04 billion (US$5.14 billion).  As of September 30, 2024, the Company had repurchased 42.1 million ADSs in the open market with cash for a total consideration of US$335.5 million, of which approximately US$100 million were repurchased in the third quarter.

Expanding TME's Global Footprint to Elevate International Music Experiences 

SHENZHEN, China, Oct. 17, 2024 /PRNewswire/ -- Tencent Music Entertainment Group (TME) today announced a strategic partnership with Galaxy Corporation, the agency representing the influential global musician G-Dragon, for his upcoming regional tour. The collaboration marks a significant step forward in TME's ambitions to expand its global presence and further solidify its position in the international music scene.

As part of this agreement, TME will act as the proprietary tour partner for G-Dragon's concerts across various markets, including most of Southeast Asia, the Middle East, Hong Kong, Macao, Taiwan, Australia, and New Zealand.

Expanding TME's Global Footprint to Elevate International Music Experiences 

SHENZHEN, China, Oct. 17, 2024 /PRNewswire/ -- Tencent Music Entertainment Group (TME) today announced a strategic partnership with Galaxy Corporation, the agency representing the influential global musician G-Dragon, for his upcoming regional tour. The collaboration marks a significant step forward in TME's ambitions to expand its global presence and further solidify its position in the international music scene.

As part of this agreement, TME will act as the proprietary tour partner for G-Dragon's concerts across various markets, including most of Southeast Asia, the Middle East, Hong Kong, Macao, Taiwan, Australia, and New Zealand.

Expanding TME's Global Footprint to Elevate International Music Experiences 

SHENZHEN, China, Oct. 17, 2024 /PRNewswire/ -- Tencent Music Entertainment Group (TME) today announced a strategic partnership with Galaxy Corporation, the agency representing the influential global musician G-Dragon, for his upcoming regional tour. The collaboration marks a significant step forward in TME's ambitions to expand its global presence and further solidify its position in the international music scene.

As part of this agreement, TME will act as the proprietary tour partner for G-Dragon's concerts across various markets, including most of Southeast Asia, the Middle East, Hong Kong, Macao, Taiwan, Australia, and New Zealand.

SHENZHEN, China, Oct. 14, 2024 /PRNewswire/ -- Tencent Music Entertainment Group ("TME", or the "Company") (NYSE: TME and HKEX: 1698), the leading online music and audio entertainment platform in China, today announced that it will report its unaudited financial results for the third quarter of 2024 before the U.S. market opens on Tuesday, November 12, 2024.

TME's management will host a Tencent Meeting Webinar on Tuesday, November 12, 2024, at 6:00 A.M. Eastern Time or 7:00 P.M. Beijing/Hong Kong Time on Tuesday, November 12, 2024, to review and discuss the Company's business and financial performance.

SHENZHEN, China, Sept. 27, 2024 /PRNewswire/ -- Tencent Music Entertainment Group ("TME", or the "Company") (NYSE: TME and HKEX: 1698), the leading online music and audio entertainment platform in China, today released its inaugural Environmental, Social and Governance ("ESG") report. This report highlights the Company's commitment to sustainable practices and long-term value creation, and details the initiatives and performance in key areas such as responsible platform, employee care, and social responsibility. 

Singapore Kicks Off the First Stop of TME's Music Journey to the World

SHENZHEN, China, Sept. 12, 2024 /PRNewswire/ -- On September 11, 2024, Tencent Music Entertainment Group (TME) announced the launch of its Global Music Outreach Initiative, which will bring together talented Chinese music artists and their works to be showcased on prominent stages worldwide. The initiative will kickstart in Singapore from September 13 to 17, beginning a broader series of music and industry exchange activities around the world, including overseas performances, international music creation exchanges, and discussions on future industry development. As Chinese culture continues to capture global attention, TME aims to leverage its platform and technological strengths to open up new international markets for Chinese artists, enhancing their global presence and creating fresh opportunities for industry growth.

SHENZHEN, China, Aug. 13, 2024 /PRNewswire/ -- Tencent Music Entertainment Group ("TME," or the "Company") (NYSE: TME and HKEX: 1698), the leading online music and audio entertainment platform in China, today announced its unaudited financial results for the second quarter ended June 30, 2024.

Second Quarter 2024 Financial Highlights

Total revenues were RMB7.16 billion (US$985 million), representing a 1.7% year-over-year decrease, primarily due to a decline in revenues from social entertainment services and others, which was partially offset by strong year-over-year growth in revenues from online music services.Revenues from music subscriptions were RMB3.74 billion (US$515 million), representing 29.4% year-over-year growth. The number of paying users increased by 17.7% year-over-year to 117.0 million, up by 3.5 million from the first quarter of 2024.Net profit was RMB1.79 billion (US$247 million), representing 33.1% year-over-year growth. Net profit attributable to equity holders of the Company was RMB1.68 billion (US$231 million), representing 29.6% year-over-year growth. Non-IFRS net profit[1] was RMB1.99 billion (US$273 million), representing 25.7% year-over-year growth. Non-IFRS net profit attributable to equity holders of the Company[1] was RMB1.87 billion (US$258 million), representing 22.5% year-over-year growth.Diluted earnings per ADS was RMB1.07 (US$0.15), up from RMB0.82 in the same period of 2023.Total cash, cash equivalents, term deposits and short-term investments as of June 30, 2024 were RMB35.03 billion (US$4.82 billion).  

SHENZHEN, China, July 26, 2024 /PRNewswire/ -- Tencent Music Entertainment Group ("TME", or the "Company") (NYSE: TME and HKEX: 1698), the leading online music and audio entertainment platform in China, today announced that Ms. Linlin Chen has tendered her resignation from her position as the Company's Group Vice President and other relevant roles for personal reasons, effective September 30, 2024.

"On behalf of the Company, we would like to extend our gratitude to Ms. Chen for her dedicated service at TME. We appreciate her continuous hard work and commitment, which greatly contributed to the success of Kugou Music, one of China's leading music streaming platforms. We respect her decision and wish her all the best in all her future endeavors," said Mr. Cussion Pang, Executive Chairman of TME.

SHENZHEN, China, July 12, 2024 /PRNewswire/ -- Tencent Music Entertainment Group ("TME", or the "Company") (NYSE: TME and HKEX: 1698), the leading online music and audio entertainment platform in China, today announced that it will report its unaudited financial results for the second quarter of 2024 before the U.S. market opens on Tuesday, August 13, 2024.

TME's management will host a Tencent Meeting Webinar on Tuesday, August 13, 2024, at 7:00 A.M. Eastern Time or 7:00 P.M. Beijing/Hong Kong Time on Tuesday, August 13, 2024, to review and discuss the Company's business and financial performance.