Tencent Music Entertainment Group (hereafter referred to as TME) disclosed its unaudited financial results for the quarter ended September 30, 2025, highlighting a 20.6% year-over-year revenue increase, reaching RMB8.46 billion. The performance was driven by strong growth in online music services, while social entertainment services recorded a slight decrease compared to the previous year.

Revenues from online music services rose by 27.2% to RMB6.97 billion, boosted by subscription businesses and offline performances. Paid subscription revenues amounted to RMB4.50 billion, reflecting a solid uptick from higher average revenue per paying user (ARPPU), which climbed to RMB11.9 from RMB10.8. Net profit attributable to equity holders reached RMB2.15 billion, representing a 36.0% rise year-over-year. Total cash, cash equivalents, term deposits, and short-term investments stood at RMB36.08 billion as of September 30, 2025.

Management attributed revenue gains to the continued expansion of premium features, deeper content partnerships, and successful offline concerts, including events that extended the company’s footprint beyond the domestic market. While social entertainment services remained under pressure, cost optimization and revenue-sharing improvements supported overall profitability, leading to a gross margin of 43.5% compared with 42.6% in the same period last year.

The group also showcased non-IFRS net profit of RMB2.41 billion, up 32.6% year-over-year. Management emphasized breakthroughs in premium audio technology and new membership tiers, alongside expanded live music events and a further push into international music award initiatives, which contributed to growth across multiple platforms. The group continues to maintain a robust financial position and aims to bolster its music ecosystem through content enhancement, user interaction, and offline expansion initiatives.