Tencent Music Entertainment Group Stock Price, News & Analysis

Tencent Music Entertainment Group (TME), a leading online music platform in China, announced the filing of its annual report on Form 20-F with the SEC on April 25, 2023. This report includes the audited financial statements for the fiscal year ending December 31, 2022. Interested shareholders can access the report on TME’s investor relations website or request a hard copy, free of charge. TME operates well-known music apps such as QQ Music, Kugou Music, Kuwo Music, and WeSing, and provides various services including online music, live streaming, and karaoke. The company aims to innovate in music and technology, creating limitless opportunities for fans.

Tencent Music Entertainment Group (TME), China's leading online music and audio platform, will report its unaudited financial results for the first quarter of 2023 on May 16, 2023, before U.S. market opens. The company will also host a Tencent Meeting Webinar on the same day at 7:00 A.M. ET to review its business and financial performance. Interested participants can register online to receive access details. TME operates popular music apps such as QQ Music, Kugou Music, Kuwo Music, and WeSing, focusing on creating a rich music experience through technology. For more details, visit TME's investor relations website.

Tencent Music Entertainment Group (TME) reported its unaudited financial results for Q4 and full year 2022, showcasing significant growth despite a challenging macro environment. In Q4 2022, net profit attributable to equity holders surged to RMB1.15 billion (US$167 million), reflecting a year-over-year increase of 114.7%. Revenues totaled RMB7.43 billion (US$1.08 billion), with music subscription revenues reaching RMB2.35 billion (US$341 million), marking 20.6% growth. For the full year, total revenues were RMB28.34 billion (US$4.11 billion), a decline of 9.3%, while net profit grew to RMB3.68 billion (US$533 million), up 21.4% year-over-year. The company announced a new $500 million share repurchase program, indicating confidence in future growth.

Tencent Music Entertainment Group (TME) has announced it will report its unaudited financial results for the fourth quarter and full year of 2022 on March 21, 2023, before the U.S. market opens. The company's management will host a Tencent Meeting Webinar the same day at 7:00 A.M. Eastern Time to discuss the results. Participants can register online for the live session and access archived content via TME’s investor relations website.

TME is the leading online music and audio entertainment platform in China, operating popular music apps including QQ Music, Kugou Music, Kuwo Music, and WeSing.

Tencent Music Entertainment Group (TME) announced the integration of its TME UNI Chart on Billboard's official website, aimed at showcasing popular Chinese music globally. This partnership enhances international opportunities for Chinese artists and expands TME UNI Chart's data, now including insights from platforms like JOOX and Weixin Video Accounts. Since its launch in 2018, TME UNI Chart has become a reliable indicator of new music popularity in China. The collaboration with Billboard, which began with the 'Chinese Music Gravity Project' in 2022, continues to promote high-quality Chinese music worldwide.

Tencent Music Entertainment Group (TME) held its annual general meeting in Hong Kong on December 30, 2022. All proposed resolutions from the AGM, Class A, and Class B meetings were duly passed. TME remains the leading online music and audio platform in China, operating popular music apps such as QQ Music and Kugou Music. The company aims to innovate at the intersection of music and technology, providing services ranging from online music to live streaming and social features.

Tencent Music Entertainment Group (TME) has reported significant growth in its overseas promotion and distribution services through the Tencent Musician Platform. As of October 2022, nearly 40% of new releases were distributed globally, totaling around 185,000 works. Notably, a single song's streaming increased by 4,800%, and TME musicians experienced income growth as high as 835%. TME's 'One-Click For All' service facilitates distribution across over 150 platforms worldwide, enhancing exposure for Chinese musicians and accumulating over 500 million streams on YouTube.