Tencent Music Entertainment Group (TME) Revenue & Revenue Breakdown
Tencent Music Entertainment Group Revenue Highlights
Latest Revenue (Y)
$27.75B
Latest Revenue (Q)
$6.77B
Main Segment (Y)
Online Music Services
Tencent Music Entertainment Group Revenue by Period
Tencent Music Entertainment Group Revenue by Year
| Date | Revenue | Change |
|---|---|---|
| 2023-12-31 | $27.75B | -2.07% |
| 2022-12-31 | $28.34B | -9.30% |
| 2021-12-31 | $31.24B | 7.17% |
| 2020-12-31 | $29.15B | 14.62% |
| 2019-12-31 | $25.43B | 33.97% |
| 2018-12-31 | $18.98B | 72.89% |
| 2017-12-31 | $10.98B | 151.80% |
| 2016-12-31 | $4.36B | - |
Tencent Music Entertainment Group generated $27.75B in revenue during NA 2023, up -2.07% compared to the previous quarter, and up 146.18% compared to the same period a year ago.
Tencent Music Entertainment Group Revenue by Quarter
| Date | Revenue | Change |
|---|---|---|
| 2024-03-31 | $6.77B | -1.81% |
| 2023-12-31 | $6.89B | 4.93% |
| 2023-09-30 | $6.57B | -9.84% |
| 2023-06-30 | $7.29B | 4.03% |
| 2023-03-31 | $7.00B | -5.67% |
| 2022-12-31 | $7.42B | 0.81% |
| 2022-09-30 | $7.37B | 6.66% |
| 2022-06-30 | $6.91B | 3.93% |
| 2022-03-31 | $6.64B | -12.66% |
| 2021-12-31 | $7.61B | -2.54% |
| 2021-09-30 | $7.80B | -2.53% |
| 2021-06-30 | $8.01B | 2.35% |
| 2021-03-31 | $7.82B | -6.13% |
| 2020-12-31 | $8.34B | 10.03% |
| 2020-09-30 | $7.58B | 9.28% |
| 2020-06-30 | $6.93B | 9.84% |
| 2020-03-31 | $6.31B | -13.46% |
| 2019-12-31 | $7.29B | 12.08% |
| 2019-09-30 | $6.51B | 10.33% |
| 2019-06-30 | $5.90B | 2.82% |
| 2019-03-31 | $5.74B | 6.28% |
| 2018-12-31 | $5.40B | 8.61% |
| 2018-09-30 | $4.97B | 10.35% |
| 2018-06-30 | $4.50B | 9.40% |
| 2018-03-31 | $4.12B | 14.78% |
| 2017-12-31 | $3.59B | 23.23% |
| 2017-09-30 | $2.91B | - |
Tencent Music Entertainment Group generated $6.77B in revenue during Q1 2024, up -1.81% compared to the previous quarter, and up 91.15% compared to the same period a year ago.
Tencent Music Entertainment Group Revenue Breakdown
Tencent Music Entertainment Group Revenue Breakdown by Product
Annual Revenue by Product
| Product/Service | Dec 23 | Dec 22 | Dec 21 | Dec 20 | Dec 19 |
|---|---|---|---|---|---|
| Online Music Services | $17.32B | $338.00M | $364.00M | $277.00M | $355.00M |
| Online Music Services To Associates | $397.00M | $276.00M | $412.00M | $206.00M | $40.00M |
| Social Entertainment Services And Others To Associates | $55.00M | $71.00M | $170.00M | $213.00M | $21.00M |
Tencent Music Entertainment Group's latest annual revenue breakdown by segment (product or service), as of Dec 23: Online Music Services (97.46%), Online Music Services To Associates (2.23%), and Social Entertainment Services And Others To Associates (0.31%).
Tencent Music Entertainment Group Peer Comparison by Revenue
| Ticker | Company | Last Year Revenue | Last Quarter Revenue |
|---|---|---|---|
| BIDU | Baidu | $134.60B | $31.51B |
| TME | Tencent Music Entertainment Group | $27.75B | $6.77B |
| SPOT | Spotify | $13.25B | $3.64B |
| MOMO | Hello Group | $12.00B | $2.56B |
| ATHM | Autohome | $7.18B | $1.61B |
| DOYU | DouYu | $5.53B | $1.04B |
| SNAP | Snap | $4.61B | $1.37B |
| ZH | Zhihu | $4.20B | $960.86M |
| TWLO | Twilio | $4.15B | $1.13B |
| PINS | $3.06B | $853.68M | |
| YY | JOYY | $2.27B | $564.56M |
| WB | $1.76B | $395.50M | |
| YELP | Yelp | $1.34B | $357.02M |
TME Revenue FAQ
What is Tencent Music Entertainment Group’s yearly revenue?
Tencent Music Entertainment Group's yearly revenue for 2023 was $27.75B, representing a decrease of -2.07% compared to 2022. The company's yearly revenue for 2022 was $28.34B, representing a decrease of -9.30% compared to 2021. TME's yearly revenue for 2021 was $31.24B, representing an increase of 7.17% compared to 2020.
What is Tencent Music Entertainment Group’s quarterly revenue?
Tencent Music Entertainment Group's quarterly revenue for Q1 2024 was $6.77B, a -1.81% decrease from the previous quarter (Q4 2023), and a -3.37% decrease year-over-year (Q1 2023). The company's quarterly revenue for Q4 2023 was $6.89B, a 4.93% increase from the previous quarter (Q3 2023), and a -7.16% decrease year-over-year (Q4 2022). TME's quarterly revenue for Q3 2023 was $6.57B, a -9.84% decrease from the previous quarter (Q2 2023), and a -10.81% decrease year-over-year (Q3 2022).
What is Tencent Music Entertainment Group’s revenue growth rate?
Tencent Music Entertainment Group's revenue growth rate for the last 3 years (2021-2023) was -11.18%, and for the last 5 years (2019-2023) was 9.11%.
What are Tencent Music Entertainment Group’s revenue streams?
Tencent Music Entertainment Group's revenue streams in c 23 are Online Music Services, Online Music Services To Associates, and Social Entertainment Services And Others To Associates. Online Music Services generated $17.32B in revenue, accounting 97.46% of the company's total revenue, up 5025.74% year-over-year. Online Music Services To Associates generated $397M in revenue, accounting 2.23% of the company's total revenue, up 43.84% year-over-year. Social Entertainment Services And Others To Associates generated $55M in revenue, accounting 0.31% of the company's total revenue, down -22.54% year-over-year.
What is Tencent Music Entertainment Group’s main source of revenue?
For the fiscal year ending Dec 23, the largest source of revenue of Tencent Music Entertainment Group was Online Music Services. This segment made a revenue of $17.32B, representing 97.46% of the company's total revenue.