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Complete Income: RMB7.5 billion, up 8% 12 months over 12 months.
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On-line Music Income: RMB5.8 billion, elevated by 16% 12 months over 12 months.
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Music Subscription Income: RMB4 billion, up 18% 12 months over 12 months.
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Web Revenue: RMB2.08 billion, elevated by 47% 12 months over 12 months.
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Non-IFRS Web Revenue: RMB2.4 billion, up 43% 12 months over 12 months.
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Gross Margin: 43.6%, a rise of 5.3 proportion factors 12 months over 12 months.
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On-line Music Paying Customers: 121 million, a 13% enhance 12 months over 12 months.
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Month-to-month ARPU: RMB11.1, in comparison with RMB10.7 in the identical interval final 12 months.
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Social Leisure Income: RMB1.6 billion, down 13% 12 months over 12 months.
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Money and Money Equivalents: RMB37.6 billion as of December 31, 2024.
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Annual Dividend: USD273 million introduced.
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Share Repurchase Program: New program as much as USD1 billion introduced.
Launch Date: March 18, 2025
For the entire transcript of the earnings name, please check with the full earnings call transcript.
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Tencent Music Leisure Group (NYSE:TME) reported an 8% year-over-year development in whole revenues for This autumn 2024, pushed by robust efficiency in music subscription and promoting companies.
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The corporate achieved a file excessive quarterly internet revenue, with a 47% year-over-year enhance to RMB2.08 billion.
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TME’s on-line music revenues elevated by 16% year-over-year, supported by a strong development in music subscriptions and promoting revenues.
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The corporate introduced a brand new and expanded share repurchase program of as much as USD1 billion, reflecting confidence in future development prospects.
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TME’s SVIP membership program noticed robust sequential development, enhancing person engagement and common income per paying person (ARPPU).
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Social leisure providers and different revenues declined by 13% year-over-year, indicating challenges on this phase.
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Regardless of the general income development, the social leisure phase continues to face downward stress as a result of market modifications.
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The corporate faces potential competitors available in the market, which might affect subscriber development and ARPPU.
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There’s a want for steady funding in AI and know-how to take care of aggressive benefit, which might enhance operational prices.
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The corporate acknowledges the value sensitivity of subscribers, which can restrict aggressive pricing methods for short-term development.
Q: Can administration share steerage on the 2025 development outlook, significantly for music subscription income and internet marketing development? A: Cussion Kar Shun Pang, Government Chairman, highlighted that 2024 was a standout 12 months with robust on-line music providers efficiency. For 2025, TME will concentrate on strengthening its presence throughout the music worth chain, anticipating wholesome development in on-line music pushed by elevated paying customers and ARPU. Min Hu, CFO, added that gross margin enhancements are anticipated to proceed, pushed by subscription income development and optimized content material prices.
