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Tencent Music Entertainment Group (TME) investor relations material
Tencent Music Entertainment Group Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary12 Aug, 2025
Executive summary
Achieved total revenue of RMB8.44 billion in Q2 2025, up 17.9% year-over-year, driven by strong growth in online music services, subscriptions, advertising, artist merchandise, and offline performances.
Net profit attributable to equity holders rose 43.2% year-over-year to RMB2.41 billion, with non-IFRS net profit reaching RMB2.57 billion, up 37.4%.
Online music services revenue grew 26.4% year-over-year to RMB6.85 billion, with music subscriptions up 17.1%.
SVIP subscribers exceeded 15 million, reflecting deepening user engagement and loyalty.
Expanded partnerships with global and domestic artists, staged large-scale concerts, and enhanced fan engagement through new platforms.
Financial highlights
Gross margin improved to 44.4% from 42.0% year-over-year, supported by music subscriptions and advertising growth.
Music subscription revenues rose 17.1% year-over-year to RMB4.38 billion, with monthly ARPPU increasing to RMB11.7.
Operating profit reached RMB2.98 billion, up 35.5% year-over-year.
Diluted earnings per ADS was RMB1.55, up from RMB1.07 a year ago.
Cash, cash equivalents, and short-term investments totaled RMB34.92 billion as of June 30, 2025.
Outlook and guidance
Full-year 2025 revenue expected to exceed previous guidance, with continued focus on operational efficiency and bottom-line improvement.
Management remains focused on product innovation, immersive user experiences, and expanding music-related services.
Ongoing investment in new initiatives to create lasting value for creators and consumers.
Confident in sustainable high-quality growth for music subscriptions and non-subscription services, including advertising and concerts.
Forward-looking statements note risks and uncertainties, with further details in regulatory filings.
How did TME enhance brand value for artists?
Explain the drivers behind ad revenue growth.
Detail the 'Hearing Guizhou' project's goals.
How will Ximalaya deal impact SVIP offerings?
What's the strategy for ad-based membership?
What are the biggest challenges in the Fans Economy?
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Next Tencent Music Entertainment Group earnings date
Q3 202511 Nov, 2025
Next Tencent Music Entertainment Group earnings date
Q3 202511 Nov, 2025
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Frequently asked questions
Tencent Music Entertainment Group operates online music entertainment platforms that provides music streaming, online karaoke, and live streaming services. The company offers online music platform through which users can listen to their favorite music; and online karaoke platform through which users can sing songs and chat with their friends. It also provides an online game platform through which users can view the game broadcast on the website; and live entertainment platform through which users can enjoy interactive collaborative music groups. In addition, the company offers its customers with turnkey solutions comprising of installed hardware, security control systems, a 24-hour cloud server and technical support for easy operation of the smart media network system to set up the multimedia interactive network. Tencent Music Entertainment Group is based in Shenzhen, China
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