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Introduction

Chinese music giant Tencent Music Entertainment (TME) has published its first financial results since the company's IPO in December 2018. Although TME's move to go public involved the publication of documents detailing historic financial and operating details, the latest results provide a good indication of how the company is currently performing.

Highlights

  • The number of monthly active users of the company's music and entertainment services also increased, as did the number of paying users. The popularity of music was confirmed by the publication of the latest CNNIC report on the use of different services by online and mobile users in the country.

Features and Benefits

  • Details the financial and operating results for TME for the final three months of 2018 and the full year.
  • Assesses the latest report from the China Internet Network Information Center on the use of different services by online and mobile users in China.

Key questions answered

  • How many subscribers were there to TME's three music services at the end of 2018?
  • What was the average revenue per paying user to TME's music services in the final three months of 2018?

Table of contents

Ovum view

  • Summary
  • Rising revenue and profits for TME
  • Solid growth in paying music users but slight dip in ARPPU
  • Music is a popular entertainment service in China

Appendix

  • Author