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Tencent Music Entertainment Group (TME) Revenue & Revenue Breakdown

OverviewForecastOwnershipFinancialsChartTranscripts

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

DateRevenueChange
2023-12-31$27.75B-2.07%
2022-12-31$28.34B-9.30%
2021-12-31$31.24B7.17%
2020-12-31$29.15B14.62%
2019-12-31$25.43B33.97%
2018-12-31$18.98B72.89%
2017-12-31$10.98B151.80%
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

DateRevenueChange
2024-03-31$6.77B-1.81%
2023-12-31$6.89B4.93%
2023-09-30$6.57B-9.84%
2023-06-30$7.29B4.03%
2023-03-31$7.00B-5.67%
2022-12-31$7.42B0.81%
2022-09-30$7.37B6.66%
2022-06-30$6.91B3.93%
2022-03-31$6.64B-12.66%
2021-12-31$7.61B-2.54%
2021-09-30$7.80B-2.53%
2021-06-30$8.01B2.35%
2021-03-31$7.82B-6.13%
2020-12-31$8.34B10.03%
2020-09-30$7.58B9.28%
2020-06-30$6.93B9.84%
2020-03-31$6.31B-13.46%
2019-12-31$7.29B12.08%
2019-09-30$6.51B10.33%
2019-06-30$5.90B2.82%
2019-03-31$5.74B6.28%
2018-12-31$5.40B8.61%
2018-09-30$4.97B10.35%
2018-06-30$4.50B9.40%
2018-03-31$4.12B14.78%
2017-12-31$3.59B23.23%
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/ServiceDec 23Dec 22Dec 21Dec 20Dec 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

TickerCompanyLast Year RevenueLast Quarter Revenue
BIDUBaidu$134.60B$31.51B
TMETencent Music Entertainment Group$27.75B$6.77B
SPOTSpotify$13.25B$3.64B
MOMOHello Group$12.00B$2.56B
ATHMAutohome$7.18B$1.61B
DOYUDouYu$5.53B$1.04B
SNAPSnap$4.61B$1.37B
ZHZhihu$4.20B$960.86M
TWLOTwilio$4.15B$1.13B
PINSPinterest$3.06B$898.37M
YYJOYY$2.27B$564.56M
WBWeibo$1.76B$395.50M
YELPYelp$1.34B$360.34M

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.