On May 12, 2026, Tencent Music Entertainment Group, a leading online music and audio entertainment platform in China, announced its unaudited financial results for the first quarter ended March 31, 2026. The company demonstrated robust growth in the first quarter of 2026. Total revenue reached 7.90 billion yuan, representing a year-over-year increase of 7.3%. Adjusted net profit was 2.33 billion yuan, up 4.8% year-over-year. Adjusted EBITDA amounted to 2.83 billion yuan, a 10.5% increase from the same period last year.
Revenue from music-related services grew diversely, rising 12.2% year-over-year this quarter to 6.51 billion yuan. Within this segment, revenue from music-related membership services reached 4.57 billion yuan, a 6.6% increase. Revenue from music-related non-member services showed particularly strong growth, surging 28.0% year-over-year to 1.94 billion yuan.
Adhering to its "One Body, Two Wings" strategy focusing on content and platform, Tencent Music is dedicated to deepening the music ecosystem comprehensively, building a differentiated one-stop music service platform, and continuously facilitating the value realization of high-quality music IP. On the content side, the company strengthens its content ecosystem advantages, solidifies its evergreen music library, creates more popular original content, and continues to drive efforts in offline performances, music merchandise, and artist collaborations. On the platform side, it employs more diverse operational methods to stabilize its user base, provides multi-tiered membership services, and aims to offer differentiated music experiences for user groups with varying music needs.
Looking ahead, Tencent Music remains committed to creating long-term value, transforming the value of music IP into momentum for innovative development, and collaborating with industry partners to expand new horizons for the thriving growth of the sector.
Comments