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

  • 📰 billboard
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 63%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

Tencent Music's earnings in 2023 saw profits rise on paid subscription growth for the Chinese company despite its social media business taking a hit.

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.”

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 112. in BE

Belgique Dernières Nouvelles, Belgique Actualités