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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Tencent Music Entertainment Group
Tencent Music Entertainment Group (TME) investor relations material
Tencent Music Entertainment Group Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary11 Aug, 2026
Executive summary
Achieved total revenue of RMB 8.93 billion in Q2 2026, up 5.8% year-over-year, driven by music-related services, membership growth, and Ximalaya integration.
Monetization from music-related services reached RMB 7.61 billion, up 11% year-over-year.
Expanded IP-driven offerings, live concerts, merchandise, and premium content, strengthening the content ecosystem.
Enhanced user engagement through product innovation, AI-driven personalization, and deeper integration with the Tencent ecosystem.
Integration of Ximalaya improved content diversity, user engagement, and cross-platform synergies.
Financial highlights
Total revenues: RMB 8.93 billion, up 5.8% year-over-year.
Music-related services revenue grew 11% year-over-year to RMB 7.61 billion; membership services revenue reached RMB 4.79 billion, up 8.1%.
Adjusted EBITDA was RMB 3.25 billion, up 5.2% year-over-year.
Net profit attributable to equity holders: RMB 2.5 billion; non-IFRS net profit: RMB 2.78 billion, up 5.3%.
Gross margin was 44.2%, slightly down from 44.4% year-over-year.
Cash, term deposits, and short-term investments totaled RMB 44.22 billion as of June 30, 2026.
Outlook and guidance
Expect gross margin to decrease slightly year-over-year in the second half due to higher share of offline performance business.
Continued investment in SVIP membership, innovative products, and diversified user benefits.
Ongoing focus on content and IP development, leveraging Ximalaya integration for long-term growth.
Net margin projected to decline slightly for the full year, while EBITDA is expected to edge up.
Continued innovation in AI-driven music creation, engagement, and monetization models.
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Latest events from Tencent Music Entertainment Group
- Revenue up 7.3% to RMB7.90bn, gross margin 44.9%, and adjusted EBITDA up 10.5%.TME
Q1 2026 - Strong 2025 growth in online music, subscriptions, and IP; $368m dividend declared.TMEQ4 2025
- Revenue and profit surged on strong online music growth, innovation, and live events.TMEQ3 2025
- Record revenue and profit growth, led by music subscriptions, ads, and merchandise.TMEQ2 2025
- Net profit jumped 35.3% as music subscriptions and gross margin reached record highs.TMEQ3 2024
- Net profit surged 33.1% as music subscriptions and ARPU growth offset social entertainment declines.TMEQ2 2024
- Net profit up 201.8% on strong music subscriptions, ARPPU, and investment gains.TMEQ1 2025
- Q4 net profit rose 47% on 8.2% revenue growth, with 121M paying users and a US$1B buyback.TMEQ4 2024
Next Tencent Music Entertainment Group earnings date
Q3 202617 Nov, 2026
Tencent Music Entertainment Group
Next Tencent Music Entertainment Group earnings date
Q3 202617 Nov, 2026
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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