Tencent Music reports Q1 2026 revenue up 7.3% as non-membership music services rise 28%
Tencent Music Entertainment Group reported unaudited first-quarter 2026 revenue of RMB7.90 billion ($1.15 billion), up 7.3% year-over-year. Non-IFRS net profit attributable to equity holders rose 7.0% to RMB2.27 billion ($330 million). Music-related services revenue increased 12.2% to RMB6.51 billion ($944 million). Within that, membership services revenue rose 6.6% to RMB4.57 billion, while non-membership music services revenue jumped 28.0% to RMB1.94 billion, helped by offl
Tencent Music Entertainment Group announced its first-quarter 2026 financial results, showing a 7.3% year-over-year increase in revenue, reaching RMB7.90 billion. The company's profit also saw a 7.0% rise. A significant driver of this growth was the music segment, which experienced a 12.2% revenue increase. Notably, non-membership music services surged by 28.0%, fueled by contributions from offline performances and advertising, while membership services grew by 6.6%.
The strong performance in non-membership music services indicates a successful diversification of revenue streams beyond traditional subscriptions for Tencent Music.
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