Tencent Music Profits Surged in 2023 on Paid Subscription Growth Despite Hit to Social Business

Group saw its profit jump 36% to 5.22 billion yuan in 2023 as growth in paid subscriptions helped offset mixed results in its social media business, according to an

“The fourth quarter recorded accelerated year-over-year growth in music subscription revenue, anchored by consistent increases in subscribers and ,” said, Tencent Music’s executive chairman. “Online music services’ strong performance mitigated headwinds from social entertainment services and contributed to expanded quarterly net profits.”

Entertainment Entertainment Latest News, Entertainment Entertainment Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Sean Combs sued by music producer for alleged 2023 sexual misconductSean Combs is being sued by a music producer for alleged sexual misconduct that took place in 2023 while they worked on 'The Love Album: Off the Grid' together.
Source: EW - 🏆 713. / 51 Read more »

Balenciaga Music Angelo Badalamenti Series Manhattan School of MusicHonoring the late Blue Velvet and Twin Peaks composer Angelo Badalamenti, Balenciaga has a classical playlist, sheet music merch, and is sponsoring a masterclass.
Source: NylonMag - 🏆 697. / 51 Read more »

Friday Music Guide: New Music From SZA, Selena Gomez, Justin Timberlake and MoreThis week's new music comes from SZA, Selena Gomez, Justin Timberlake and more.
Source: billboard - 🏆 112. / 63 Read more »

Besame Mucho Music Festival Brings Music Legends to AustinThe Besame Mucho Music Festival was held on Saturday, hosted by the Circuit of The Americas outside Austin. More than 100,000 attendees made the journey to see their favorite Latino music artists.
Source: HoustonPress - 🏆 314. / 61 Read more »

Friday Music Guide: New Music From Ariana Grande, Bleachers and MoreThis week's new music guide includes Ariana Grande, Bleachers and more.
Source: billboard - 🏆 112. / 63 Read more »