Shenzhen, China, November 12, 2024- Tencent Music Entertainment Group (hereinafter referred to as "Tencent Music") (NYSE: TME and HKEX: 1698), a leading online music and audio entertainment platform in China, announced today its unaudited financial results for the third quarter ended September 30, 2024.
In the third quarter of 2024, Tencent Music Entertainment Group's performance was stable, with a total revenue of 7.02 billion yuan, a year-on-year increase of 6.8%; The adjusted net profit was 1.94 billion yuan, a year-on-year increase of 29.1%. Among them, the online music business maintains high-quality growth and drives Tencent Music's long-term sustainable growth. In the third quarter, online music subscription revenue increased by 20.3% year-on-year, reaching 3.84 billion yuan; The number of online music paying users increased by 15.5% year-on-year to 119 million. This quarter, Tencent Music's average monthly revenue per paying user (ARPPU) further increased to 10.8 yuan.