On November 12th, Southern Finance and Economics reported that Tencent Music Entertainment Group achieved a revenue of 7.02 billion yuan in the third quarter of 2024, 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, online music subscription revenue increased by 20.3% year-on-year, reaching 3.84 billion yuan, accounting for 54.7% of the total revenue; The number of online music paying users increased by 15.5% year-on-year to 119 million.