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Market
How will Tencent Music's market share in the Chinese music streaming market change by the end of 2024?
4
Resolution / Starting Odds
Increase • 33%
Decrease • 33%
Stay the same • 34%
Industry reports on the Chinese music streaming market for 2024
Story
Tencent Music Q1: Revenue at $937M, Profit Up 27.5%, Beats Estimates
May 13, 2024, 10:25 AM
Tencent Music Entertainment Group reported its Q1 earnings, revealing a revenue of $937 million, a 3.4% decrease from the previous year, primarily due to declines in social entertainment services. Despite this, the company saw a 27.5% increase in profit to $212 million. The music subscription segment notably grew by 39.2%, generating $501 million and reaching 113.5 million paying users. Analysts had predicted earnings of 14 cents per share and revenue of $916.95 million, but Tencent Music surpassed these revenue estimates.
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Similar markets
Increase by more than 2% • 25%
Increase by 0-2% • 25%
Remain the same • 25%
Decrease • 25%
Increase • 33%
Decrease • 33%
No Change • 33%
Increase 5% or more • 25%
Increase less than 5% • 25%
Decrease • 25%
No significant change • 25%
Less than 25% • 25%
25% - 30% • 25%
30% - 35% • 25%
More than 35% • 25%
Spotify's share increases • 33%
Apple Music's share increases • 33%
No significant change • 34%
0-10% • 25%
11-20% • 25%
21-30% • 25%
More than 30% • 25%
