Tencent Music Q1 2025 Revenue Rises on Subscription Growth Despite Social Decline
Tencent Music Entertainment Group (TME), the music streaming subsidiary of Chinese tech giant Tencent, reported strong financial results for the first quarter of 2025. The company achieved a total revenue of RMB 7.36 billion ($1.01 billion), representing an 8.7% year-over-year increase. This growth was primarily driven by a significant surge in online music subscriptions, with revenue from music services rising nearly 16% to RMB 5.8 billion ($800 million). During the quarter, TME added 1.9 million new subscribers, bringing its total paid user base to 122.9 million. Conversely, revenue from social entertainment services declined to RMB 1.55 billion ($220 million) from RMB 1.76 billion ($240 million) in the previous year. This decrease is attributed to the removal of specific live-streaming features to comply with Beijing’s stricter anti-gambling regulations. Looking ahead, TME plans to continue investing in content partnerships, product upgrades, and live events to enhance user engagement and maintain its competitive position in China’s dynamic streaming market.
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Tencent Music Q1 2025 Revenue Rises on Subscription Growth Despite Social Decline
Tencent Music Entertainment Group (TME), the music streaming subsidiary of Chinese tech giant Tencent, reported strong financial results for the first quarter of 2025. The company achieved a total revenue of RMB 7.36 billion ($1.01 billion), representing an 8.7% year-over-year increase. This growth was primarily driven by a significant surge in online music subscriptions, with revenue from music services rising nearly 16% to RMB 5.8 billion ($800 million). During the quarter, TME added 1.9 million new subscribers, bringing its total paid user base to 122.9 million. Conversely, revenue from social entertainment services declined to RMB 1.55 billion ($220 million) from RMB 1.76 billion ($240 million) in the previous year. This decrease is attributed to the removal of specific live-streaming features to comply with Beijing’s stricter anti-gambling regulations. Looking ahead, TME plans to continue investing in content partnerships, product upgrades, and live events to enhance user engagement and maintain its competitive position in China’s dynamic streaming market.
TechNode