Chinese Music Giant Tencent Music Seeks to Make More Money from Fans
Less users, more subscription income.
Author | Xu Xingxing
Editor | Jiang Jiao
Cover | West Hong City's First Rich
Chinese music giant Tencent Music has released its quarterly report, exceeding market expectations despite a decline in monthly active users for the 21st consecutive quarter.
In the second quarter of 2025, Tencent Music's revenue reached 84.4 billion yuan, a year-on-year increase of 17.9%; adjusted net profit reached 26.4 billion yuan, a year-on-year increase of 33%.
Compared to Spotify, the growth of Tencent Music's users is more stable and sustainable.
Tencent Music's CEO, Liang Zhu, said that the company is committed to expanding its user base and increasing revenue through various means, including music subscription services and live concerts.
The company has also launched a new service called "Bubble" which allows users to interact with their favorite artists in real-time.
Tencent Music's acquisition of Himalaya is still pending regulatory approval.
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