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Tencent Music Entertainment Group Achieves Steady Growth in Q1 2026: Total Revenue of 7.9 Billion Yuan, AI Empowers the Value Release of Music IPs

Today, we released our Q1 2026 earnings report.
In the first quarter of 2026, Tencent Music Entertainment Group maintained robust growth. Tencent Music’s total revenue for the first quarter was 7.9 billion yuan, an increase of 7.3% year-over-year; adjusted net profit reached 2.33 billion yuan, up 4.8% year-over-year; adjusted EBITDA amounted to 2.83 billion yuan, a 10.5% year-over-year increase. Revenue from music-related services showed diversified growth, increasing 12.2% year-over-year to 6.51 billion yuan this quarter. Among that, revenue from music-related membership services reached 4.57 billion yuan, a 6.6% year-over-year increase; revenue from music-related non-member services grew particularly strongly, surging 28.0% year-over-year to 1.94 billion yuan
Building on its 'one body, two wings' strategy of content and platform, Tencent Music is committed to comprehensively cultivating the music ecosystem, creating a differentiated one-stop music service platform, and continuously empowering the value release of high-quality music IPs. On the content side, Tencent Music strengthens its content ecosystem advantages, consolidates its evergreen music library, creates more popular self-produced content, and continues to make efforts in live performances, music merchandise, and artist collaborations. On the platform side, it stabilizes user scale through diversified operations and provides multi-level membership services to offer differentiated music experiences for different user groups with varying music needs.
Looking ahead, Tencent Music remains committed to creating long-term value, transforming music IP value into innovative development momentum, and collaborating with industry partners to expand new horizons for the thriving growth of the sector.
$TME-SW (01698.HK)$ $Tencent Music (TME.US)$
Today, we released our Q1 2026 earnings report. In the first quarter of 2026, Tencent Music Entertainment Group maintained robust growth. Tencent Music’s total revenue for the first quarter was 7.9 billion yuan, an increase of 7.3% year-over-year; adjusted net profit reached 2.33 billion yuan, up 4.8% year-over-year; adjusted EBITDA amounted to 2.83 billion yuan, a 10.5% year-over-year increase. Revenue from music-related services showed diversified growth, increasing 12.2% year-over-year to 6.51 billion yuan this quarter. Among that, revenue from music-related membership services reached 4.57 billion yuan, a 6.6% year-over-year increase; revenue from music-related non-member services grew particularly strongly, surging 28.0% year-over-year to 1.94 billion yuan Building on its 'one body, two wings' strategy of content and platform, Tencent Music is committed to comprehensively cultivating the music ecosystem, creating a differentiated one-stop music service platform, and continuously empowering the value release of high-quality music IPs. On the content side, Tencent Music strengthens its content ecosystem advantages, consolidates its evergreen music library, creates more popular self-produced content, and continues to make efforts in live performances, music merchandise, and artist collaborations. On the platform side, it stabilizes user scale through diversified operations and provides multi-level membership services to offer differentiated music experiences for different user groups with varying music needs. Looking ahead, Tencent Music remains committed to creating long-term value, transforming music IP value into innovative development momentum, and collaborating with industry partners to expand new horizons for the thriving growth of the sector...
Today, we released our Q1 2026 earnings report. In the first quarter of 2026, Tencent Music Entertainment Group maintained robust growth. Tencent Music’s total revenue for the first quarter was 7.9 billion yuan, an increase of 7.3% year-over-year; adjusted net profit reached 2.33 billion yuan, up 4.8% year-over-year; adjusted EBITDA amounted to 2.83 billion yuan, a 10.5% year-over-year increase. Revenue from music-related services showed diversified growth, increasing 12.2% year-over-year to 6.51 billion yuan this quarter. Among that, revenue from music-related membership services reached 4.57 billion yuan, a 6.6% year-over-year increase; revenue from music-related non-member services grew particularly strongly, surging 28.0% year-over-year to 1.94 billion yuan Building on its 'one body, two wings' strategy of content and platform, Tencent Music is committed to comprehensively cultivating the music ecosystem, creating a differentiated one-stop music service platform, and continuously empowering the value release of high-quality music IPs. On the content side, Tencent Music strengthens its content ecosystem advantages, consolidates its evergreen music library, creates more popular self-produced content, and continues to make efforts in live performances, music merchandise, and artist collaborations. On the platform side, it stabilizes user scale through diversified operations and provides multi-level membership services to offer differentiated music experiences for different user groups with varying music needs. Looking ahead, Tencent Music remains committed to creating long-term value, transforming music IP value into innovative development momentum, and collaborating with industry partners to expand new horizons for the thriving growth of the sector...
Today, we released our Q1 2026 earnings report. In the first quarter of 2026, Tencent Music Entertainment Group maintained robust growth. Tencent Music’s total revenue for the first quarter was 7.9 billion yuan, an increase of 7.3% year-over-year; adjusted net profit reached 2.33 billion yuan, up 4.8% year-over-year; adjusted EBITDA amounted to 2.83 billion yuan, a 10.5% year-over-year increase. Revenue from music-related services showed diversified growth, increasing 12.2% year-over-year to 6.51 billion yuan this quarter. Among that, revenue from music-related membership services reached 4.57 billion yuan, a 6.6% year-over-year increase; revenue from music-related non-member services grew particularly strongly, surging 28.0% year-over-year to 1.94 billion yuan Building on its 'one body, two wings' strategy of content and platform, Tencent Music is committed to comprehensively cultivating the music ecosystem, creating a differentiated one-stop music service platform, and continuously empowering the value release of high-quality music IPs. On the content side, Tencent Music strengthens its content ecosystem advantages, consolidates its evergreen music library, creates more popular self-produced content, and continues to make efforts in live performances, music merchandise, and artist collaborations. On the platform side, it stabilizes user scale through diversified operations and provides multi-level membership services to offer differentiated music experiences for different user groups with varying music needs. Looking ahead, Tencent Music remains committed to creating long-term value, transforming music IP value into innovative development momentum, and collaborating with industry partners to expand new horizons for the thriving growth of the sector...
Today, we released our Q1 2026 earnings report. In the first quarter of 2026, Tencent Music Entertainment Group maintained robust growth. Tencent Music’s total revenue for the first quarter was 7.9 billion yuan, an increase of 7.3% year-over-year; adjusted net profit reached 2.33 billion yuan, up 4.8% year-over-year; adjusted EBITDA amounted to 2.83 billion yuan, a 10.5% year-over-year increase. Revenue from music-related services showed diversified growth, increasing 12.2% year-over-year to 6.51 billion yuan this quarter. Among that, revenue from music-related membership services reached 4.57 billion yuan, a 6.6% year-over-year increase; revenue from music-related non-member services grew particularly strongly, surging 28.0% year-over-year to 1.94 billion yuan Building on its 'one body, two wings' strategy of content and platform, Tencent Music is committed to comprehensively cultivating the music ecosystem, creating a differentiated one-stop music service platform, and continuously empowering the value release of high-quality music IPs. On the content side, Tencent Music strengthens its content ecosystem advantages, consolidates its evergreen music library, creates more popular self-produced content, and continues to make efforts in live performances, music merchandise, and artist collaborations. On the platform side, it stabilizes user scale through diversified operations and provides multi-level membership services to offer differentiated music experiences for different user groups with varying music needs. Looking ahead, Tencent Music remains committed to creating long-term value, transforming music IP value into innovative development momentum, and collaborating with industry partners to expand new horizons for the thriving growth of the sector...
Today, we released our Q1 2026 earnings report. In the first quarter of 2026, Tencent Music Entertainment Group maintained robust growth. Tencent Music’s total revenue for the first quarter was 7.9 billion yuan, an increase of 7.3% year-over-year; adjusted net profit reached 2.33 billion yuan, up 4.8% year-over-year; adjusted EBITDA amounted to 2.83 billion yuan, a 10.5% year-over-year increase. Revenue from music-related services showed diversified growth, increasing 12.2% year-over-year to 6.51 billion yuan this quarter. Among that, revenue from music-related membership services reached 4.57 billion yuan, a 6.6% year-over-year increase; revenue from music-related non-member services grew particularly strongly, surging 28.0% year-over-year to 1.94 billion yuan Building on its 'one body, two wings' strategy of content and platform, Tencent Music is committed to comprehensively cultivating the music ecosystem, creating a differentiated one-stop music service platform, and continuously empowering the value release of high-quality music IPs. On the content side, Tencent Music strengthens its content ecosystem advantages, consolidates its evergreen music library, creates more popular self-produced content, and continues to make efforts in live performances, music merchandise, and artist collaborations. On the platform side, it stabilizes user scale through diversified operations and provides multi-level membership services to offer differentiated music experiences for different user groups with varying music needs. Looking ahead, Tencent Music remains committed to creating long-term value, transforming music IP value into innovative development momentum, and collaborating with industry partners to expand new horizons for the thriving growth of the sector...
Today, we released our Q1 2026 earnings report. In the first quarter of 2026, Tencent Music Entertainment Group maintained robust growth. Tencent Music’s total revenue for the first quarter was 7.9 billion yuan, an increase of 7.3% year-over-year; adjusted net profit reached 2.33 billion yuan, up 4.8% year-over-year; adjusted EBITDA amounted to 2.83 billion yuan, a 10.5% year-over-year increase. Revenue from music-related services showed diversified growth, increasing 12.2% year-over-year to 6.51 billion yuan this quarter. Among that, revenue from music-related membership services reached 4.57 billion yuan, a 6.6% year-over-year increase; revenue from music-related non-member services grew particularly strongly, surging 28.0% year-over-year to 1.94 billion yuan Building on its 'one body, two wings' strategy of content and platform, Tencent Music is committed to comprehensively cultivating the music ecosystem, creating a differentiated one-stop music service platform, and continuously empowering the value release of high-quality music IPs. On the content side, Tencent Music strengthens its content ecosystem advantages, consolidates its evergreen music library, creates more popular self-produced content, and continues to make efforts in live performances, music merchandise, and artist collaborations. On the platform side, it stabilizes user scale through diversified operations and provides multi-level membership services to offer differentiated music experiences for different user groups with varying music needs. Looking ahead, Tencent Music remains committed to creating long-term value, transforming music IP value into innovative development momentum, and collaborating with industry partners to expand new horizons for the thriving growth of the sector...
Today, we released our Q1 2026 earnings report. In the first quarter of 2026, Tencent Music Entertainment Group maintained robust growth. Tencent Music’s total revenue for the first quarter was 7.9 billion yuan, an increase of 7.3% year-over-year; adjusted net profit reached 2.33 billion yuan, up 4.8% year-over-year; adjusted EBITDA amounted to 2.83 billion yuan, a 10.5% year-over-year increase. Revenue from music-related services showed diversified growth, increasing 12.2% year-over-year to 6.51 billion yuan this quarter. Among that, revenue from music-related membership services reached 4.57 billion yuan, a 6.6% year-over-year increase; revenue from music-related non-member services grew particularly strongly, surging 28.0% year-over-year to 1.94 billion yuan Building on its 'one body, two wings' strategy of content and platform, Tencent Music is committed to comprehensively cultivating the music ecosystem, creating a differentiated one-stop music service platform, and continuously empowering the value release of high-quality music IPs. On the content side, Tencent Music strengthens its content ecosystem advantages, consolidates its evergreen music library, creates more popular self-produced content, and continues to make efforts in live performances, music merchandise, and artist collaborations. On the platform side, it stabilizes user scale through diversified operations and provides multi-level membership services to offer differentiated music experiences for different user groups with varying music needs. Looking ahead, Tencent Music remains committed to creating long-term value, transforming music IP value into innovative development momentum, and collaborating with industry partners to expand new horizons for the thriving growth of the sector...
Today, we released our Q1 2026 earnings report. In the first quarter of 2026, Tencent Music Entertainment Group maintained robust growth. Tencent Music’s total revenue for the first quarter was 7.9 billion yuan, an increase of 7.3% year-over-year; adjusted net profit reached 2.33 billion yuan, up 4.8% year-over-year; adjusted EBITDA amounted to 2.83 billion yuan, a 10.5% year-over-year increase. Revenue from music-related services showed diversified growth, increasing 12.2% year-over-year to 6.51 billion yuan this quarter. Among that, revenue from music-related membership services reached 4.57 billion yuan, a 6.6% year-over-year increase; revenue from music-related non-member services grew particularly strongly, surging 28.0% year-over-year to 1.94 billion yuan Building on its 'one body, two wings' strategy of content and platform, Tencent Music is committed to comprehensively cultivating the music ecosystem, creating a differentiated one-stop music service platform, and continuously empowering the value release of high-quality music IPs. On the content side, Tencent Music strengthens its content ecosystem advantages, consolidates its evergreen music library, creates more popular self-produced content, and continues to make efforts in live performances, music merchandise, and artist collaborations. On the platform side, it stabilizes user scale through diversified operations and provides multi-level membership services to offer differentiated music experiences for different user groups with varying music needs. Looking ahead, Tencent Music remains committed to creating long-term value, transforming music IP value into innovative development momentum, and collaborating with industry partners to expand new horizons for the thriving growth of the sector...
Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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