Tencent Music Entertainment Group ("TME," or the "Company") (NYSE:TME), the leading online music and audio entertainment platform in China, today announced its unaudited financial results for the second quarter ended June 30, 2025.

Second Quarter 2025 Financial Highlights

• Total revenues were RMB8.44 billion (US$1.18 billion), representing a 17.9% year-over-year increase, primarily due to strong year-over-year growth in revenues from online music services, and partially offset by a decline in revenues from social entertainment services and others.
• Revenues from online music services were RMB6.85 billion (US$957 million), representing 26.4% year-over-year growth. Revenues from music subscriptions were RMB4.38 billion (US$611 million), representing 17.1% year-over-year growth. Monthly ARPPU grew to RMB11.7 from RMB10.7 in the same period of 2024.
• Net profit attributable to equity holders of the Company was RMB2.41 billion (US$336 million), representing 43.2% year-over-year growth. Non-IFRS net profit attributable to equity holders of the Company[1] was RMB2.57 billion (US$359 million), representing 37.4% year-over-year growth.
• Diluted earnings per ADS was RMB1.55 (US$0.22), up from RMB1.07 in the same period of 2024. Non-IFRS diluted earnings per ADS was RMB1.66 (US$0.23), up from RMB1.19 in the same period of 2024.
• Total cash, cash equivalents, term deposits and short-term investments as of June 30, 2025 were RMB34.92 billion (US$4.87 billion).

Mr. Cussion Pang, Executive Chairman of TME, commented, "We delivered high-quality growth in the second quarter, achieving solid year-over-year increases in both revenue and profitability. While our music subscription business remained a core growth driver, our expanding suite of music-related services—including advertising, concerts, and artist merchandise—showed impressive momentum. As we continue to scale our platform, we are focused on building a vibrant, one-stop music service destination that empowers content creators and reshapes connections with music lovers in meaningful ways."

Mr. Ross Liang, CEO of TME, continued, "Our focus on product innovation to deliver immersive user experiences has driven solid growth in our online music business. This is reflected in the continued expansion of both our subscriber base and ARPPU, along with deeper user engagement. We are especially pleased to see our SVIP subscribers recently surpass 15 million, a new milestone reflecting the deep trust and loyalty of our users. We see great potential in the music entertainment space and remain committed to investing in new initiatives that create lasting value and impact to music creators and consumers."

Second Quarter 2025 Operational Highlights 

• Key Operating Metrics