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Tencent Music revenue rises 3% as content push brings in listeners

StreetInsider2021-11-09

(Reuters) - China's Tencent Music Entertainment Group reported a 3% rise in quarterly revenue on Monday, as efforts to bolster content attracted more paying users to its Spotify-like music streaming platform.Total revenue of the Tencent Holdings Ltd-controlled company rose to 7.805 billion yuan ($1.22 billion) in the third quarter. Analysts had expected revenue of 7.85 billion yuan, according to Refinitiv data.

Tencent Music's social entertainment services business, which includes karaoke platforms where users can live stream concerts is its primary source of revenue. Users can also send virtual gifts to live streamers and karaoke singers.

A rebound in advertising has also bolstered its business.

Profit attributable to equity holders of the company fell to 740 million yuan, from 1.13 billion yuan a year earlier.

($1 = 6.3980 Chinese yuan renminbi)

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评论22

  • Dcpaddidog
    ·2021-11-09
    Like pls
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  • tig2021
    ·2021-11-09
    Ok
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    • KH321
      OK
      2021-11-09
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    • PSYCHO82
      Ok
      2021-11-09
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  • ming22
    ·2021-11-09
    Good 
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  • glorify
    ·2021-11-09
    Keep going!💪👌👍🚀
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    • Ameliakoh
      [Cool][Cool]
      2021-11-09
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  • Tailwind
    ·2021-11-09
    🚀
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  • 財神發
    ·2021-11-09
    Like 
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  • SamYYL
    ·2021-11-09
    Good and like 
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    • SamYYL
      like
      2021-11-11
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    • SamYYL
      thanks
      2021-11-10
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    • Ahhs
      Like back?
      2021-11-09
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  • leejk
    ·2021-11-09
    Up up
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    • leejk
      like
      2021-11-09
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  • Slee49
    ·2021-11-09
    Like
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    • KelvinChan
      Good
      2021-11-09
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    • Slee49
      Like
      2021-11-09
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  • IAS
    ·2021-11-09
    Great 
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  • Jialatsia
    ·2021-11-09
    Meep
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  • sh99
    ·2021-11-09
    yes
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  • sh99
    ·2021-11-09
    yes
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    • sh99
      yes
      2021-11-09
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  • Vincentttt
    ·2021-11-09
    Seems like music industry is still worth to invest?
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    • tanpp2307
      Yes, music streaming is the way to go!
      2021-11-09
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  • Richpig
    ·2021-11-09
    Good
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    • YunaTuna
      k
      2021-11-09
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  • Dummy_Inv
    ·2021-11-09
    Cool - 🚀 pls 
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  • b1uesky
    ·2021-11-09
    Nice
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    • Huathk
      Gd
      2021-11-09
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  • Blurking
    ·2021-11-09
    Nice
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  • NatYong
    ·2021-11-09
    A rebound in advertising has also bolstered its business.
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    • Potato3
      Indeed
      2021-11-09
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  • gogogofo
    ·2021-11-09
    Nice 
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