Tencent Music Entertainment Group has announced its unaudited financial results for the first quarter ended March 31, 2026.
In Q1 2026, Tencent Music demonstrated steady growth, with total revenue reaching 7.9 billion yuan, a year-over-year increase of 7.3%. Specifically, revenue from music-related services saw diversified growth, rising 12.2% year-over-year to 6.51 billion yuan. Within this segment, revenue from music-related membership services amounted to 4.57 billion yuan, up 6.6% year-over-year. Revenue from music-related non-membership services showed particularly strong growth, increasing 28% year-over-year to 1.94 billion yuan.
Regarding profitability, Tencent Music's adjusted net profit for Q1 2026 was 2.33 billion yuan, a 4.8% increase year-over-year. Adjusted EBITDA was 2.83 billion yuan, representing a 10.5% year-over-year growth.
Executive Chairman of Tencent Music, Cussion Pang, stated: "The solid performance this quarter validates the effectiveness of our comprehensive, in-depth strategy for cultivating the music ecosystem. By continuously expanding service formats and deepening user engagement, we have built a more diversified and resilient business model. The sustained strong growth in non-membership service revenue within our music-related services provides robust support for this model. AI is expanding participation in content creation; it empowers creators to achieve greater creativity and, in many ways, enhances the scarcity and intrinsic value of high-quality IP. This is precisely the core of boosting user activity and user spending share. Grounded in a strong copyright protection system, we are committed to transforming the value of music IP into a driving force for innovative development, exploring new opportunities for the music industry, and creating sustainable long-term value."
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