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Tencent Music takes copyright rules in stride, earnings beat estimates

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Tencent Music Entertainment Group said China's copyright rules were unlikely to have a big impact on its online subscriptions. The company’s second-quarter profit beat Wall Street expectations $TME

said on Monday China's copyright rules were unlikely to have a big impact on its online subscriptions, and its chief executive believes regulators want to promote healthy development of the music industry.

Shares in Tencent Music rose 3.1% in extended trading after its earnings release, paring back losses that saw it fall 9% earlier on Monday. "Tencent Music is now focusing on content creation and user experience improvement," Zhao said. "They are on the right road as the fight over copyright is over."

 

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