Tencent Music Achieves Strong Growth in Q4 and Full Year 2025: 'Sound' Innovation, One-Stop Satisfaction

Today, we released our financial report for Q4 and the full year of 2025.

In Q4 and the full year of 2025, our overall performance maintained steady growth. Total revenue for Q4 reached 8.64 billion yuan, a year-on-year increase of 15.9%, with adjusted net profit at 2.58 billion yuan, a year-on-year increase of 7.6%. For the full year, total revenue was 32.9 billion yuan, up 15.8% year-on-year, with adjusted net profit at 9.92 billion yuan, an increase of 22.0% year-on-year.

The online music business, as the core driver of the company's high-quality growth, has demonstrated a diversified and healthy growth trend. In particular, the growth of the non-subscription segment was especially strong: annual online music subscription revenue increased by 16.0% year-over-year to RMB 17.66 billion, with the number of super members surpassing the 20 million milestone; annual non-subscription revenue from online music grew by 39.2% year-over-year to RMB 9.07 billion.

Meanwhile, we will distribute an annual cash dividend of approximately USD 368 million (approximately RMB 2.576 billion) to genuinely reward investors for their long-term trust.

In 2025, we will continue to deepen our 'one body, two wings' strategy of content and platform integration, building a differentiated one-stop music service platform. On the content side, we will further solidify our content advantage through diversified and differentiated content offerings, accelerate the expansion into more live performances, music merchandise, and artist collaborations, further unlocking the value of music IPs, making our content ecosystem richer and more vibrant. On the platform side, we will serve a broader user base through multi-product and multi-scenario layouts while continuing to leverage AI to empower music creation and enhance users' music experience, creating a more unique and personalized music consumption experience for users.

Looking ahead, we will continue to innovate, remain committed to creating long-term value, seize industry development opportunities, and work alongside our partners to drive the industry forward.