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Tencent Music Revenue Jumps 18% on Strong Subscription Growth: ‘Impressive Momentum’
While Tencent Music’s total number of monthly average users fell 3% to 551 million, the number of subscribers rose 6.3% to 124.4 million. That drove a 17% year-over-year increase in music subscriptions revenue to a total of 4.38 billion RMB ($611 million). Overall online music services revenue rose to 6.85 billion RMB ($957 million).
CEO Cheol-hyuk Jang said SM aims to create “a comprehensive idol success model” in partnership with Tencent Music.
Tencent Music Entertainment beat estimates for second-quarter revenue on Tuesday as an expanded content library drove higher ...
Investors were happy to crank Tencent Music ( TME 11.78%) on Tuesday. Following the release of encouraging quarterly results ...
Shares of Tencent Music Entertainment (TME) rose nearly 12% in the U.S. on Tuesday after it posted a top- and bottom-line ...
SEOUL, May 27 (Yonhap) -- K-pop powerhouse Hybe said Tuesday it will sell its entire stake in rival SM Entertainment to China's Tencent for 200 billion won (US$145.5 million). In a regulatory ...
South Korea's Hybe said in a regulatory filing that it plans to sell its 2.2 million shares in SM Entertainment to Tencent Music Entertainment for 243 billion won ($177 million) on May 30.
Hybe, the group behind K-pop superstars BTS, said Tuesday that it will sell its remaining stake in competitor SM Entertainment to Tencent's music unit. Hybe has a nearly 10% stake in SM ...
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