Tencent Music Entertainment Group's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Tencent Music Entertainment Group (TME) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Tencent Music Entertainment Group vs Its Competitors
- TTM: Trailing 12-month revenue of 4,886M vs 5,639M combined for tracked competitors (46.4% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+300.0% annualized vs trailing 12 months), vs decelerating (-2.9%) for its tracked peer group.
- Profitability: Its 34.5% net margin compares with -23.2% for the peer group.
- Scale: Tencent Music Entertainment Group ranks #8 of 45 companies by market capitalization in the Broadcasting Media & Cable TV industry, holding 2.9% of industry market cap.
- Peer revenue share: Tencent Music Entertainment Group accounted for 78.1% of combined revenue among its tracked peer group.
- Peer differentiation: Revenue per employee of $257.16M compares with $1.35M for the peer group (189.8x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
TME Sales vs. its Competitors, Q4 2025
With a net margin of 34.51 %, Tencent Music Entertainment Group achieved higher profitability than its competitors (-23.24 %).
Tencent Music Entertainment Group generated 78.12 % of the combined sales of its peer group.
Tencent Music Entertainment Group vs. its Competitors, Q4 2025
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Tencent Music Entertainment Group and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Tencent Music Entertainment Group | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (1) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (10) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (4) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Tencent Music Entertainment Group's competitor groups requires a Commercial License.
Tencent Music Entertainment Group's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Tencent Music Entertainment Group | Yes | Yes | Yes | No |
| Competitors combined (1) | ||||
| High-Confidence Competitors (1) | ||||
| Similar-Size Competitors (10) | ||||
| Similar Growth & Profitability (8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 12.50 % (1 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
TME Stock Performance relative to its Competitors
TME Stock Performance relative to High-Confidence Competitors
TME Stock Performance relative to Similar-Size Competitors
TME Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Roblox Corporation | 282.9% | Outperformed |
| 2 | Qutoutiao Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Tencent Music Entertainment Group's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Tencent Music Entertainment Group's Comment on Competition and Industry Peers
Publicly Traded Peers of Tencent Music Entertainment Group
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Tencent Music Entertainment Group | - | 4,885.95 |
| Roblox Corporation | 30,003.87 | 5,639.34 |
| Qutoutiao Inc | 13.95 | 139.23 |
| SUBTOTAL | 30,017.81 | 10,664.52 |
Sources: Tencent Music Entertainment Group's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Tencent Music Entertainment Group versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Tencent Music Entertainment Group's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Sohu com Limited | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Tencent Music Entertainment Group's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Tencent Music Entertainment Group's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Tencent Music Entertainment Group | - | 257,155,105 | 88,732,658 |
| Roblox Corporation | 30,004 | 1,839,916 | -329,030 |
| Qutoutiao Inc | 14 | 116,026 | -19,127 |
| PEERS TOTAL | 30,018 | 1,354,883 | -241,836 |
Tencent Music Entertainment Group's Position in Industry Market Structure
Market-capitalization share and concentration across all 42 companies in Tencent Music Entertainment Group's industry classification, broader than the peer set above. Market cap in millions of $.Tencent Music Entertainment Group ranks #8 of 42 companies by market capitalization in its industry, holding 2.87 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,657, indicating a moderately concentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Netflix Inc | 295,010 | 31.85 % |
| 2 | Liberty Media Corporation | 164,578 | 17.77 % |
| 3 | Spotify Technology S a | 104,730 | 11.31 % |
| 4 | Warner Bros Discovery Inc | 79,568 | 8.59 % |
| 5 | Comcast corporation | 1,234 | 5.2% |
| 6 | Everpure Inc | 1,234 | 5.2% |
| 7 | Fox Corporation | 1,234 | 5.2% |
| 8 | Tencent Music Entertainment Group | 26,568 | 2.87 % |
| 9 | Roku Inc | 1,234 | 5.2% |
| 10 | Charter Communications Inc | 1,234 | 5.2% |
Market cap and industry share for the rest of Tencent Music Entertainment Group's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-09-28.
Tencent Music Entertainment Group's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 3 | Spotify Technology S a | 104,730 | -29.24 % |
| 4 | Warner Bros Discovery Inc | 79,568 | 55.99 % |
| 5 | Comcast corporation | 77,790 | -24.85 % |
| 6 | Everpure Inc | 44,733 | 46.41 % |
| 7 | Fox Corporation | 1,234 | 12.3% |
| 8 | Tencent Music Entertainment Group | 26,568 | -64.28 % |
| 9 | Roku Inc | 1,234 | 12.3% |
| 10 | Charter Communications Inc | 1,234 | 12.3% |
| 11 | Rogers Communications Inc | 1,234 | 12.3% |
| 12 | Paramount Skydance Corporation | 1,234 | 12.3% |
| 13 | Sirius Xm Holdings Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Tencent Music Entertainment Group's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-09-28. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Tencent Music Entertainment Group's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Broadcasting Media & Cable TV industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (64 companies).| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 44.18 % | 46.38 % (avg) | -2.2 pp |
| Operating Margin | 40.62 % | industry median | +33.5 pp |
| EBITDA Margin | 43.56 % | 7.12 % (avg) | +36.4 pp |
| Capital Intensity (Capex / Revenue) | 0.93 % | 6.60 % (avg) | -5.7 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Tencent Music Entertainment Group's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue Growth | -2.07 % | -4.22 % | 23.78 % |
| Operating Margin | 21.83 % | 30.67 % | 40.62 % |
| Return on Invested Capital | 4.67 % | 5.76 % | 7.35 % |
| P/E | 33.6x | - | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Tencent Music Entertainment Group's Strategic Group Map
Every company in Tencent Music Entertainment Group's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Tencent Music Entertainment Group is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Tencent Music Entertainment Group's BCG Growth-Share Matrix
Relative market share (vs Tencent Music Entertainment Group's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
Tencent Music Entertainment Group falls in the Dog quadrant: relative market share of 0.09x vs its largest competitor, in an industry growing revenue -1.2% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Tencent Music Entertainment Group's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Moderate | Industry HHI of 1,657 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 0.93 % vs industry average 6.60 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Tencent Music Entertainment Group's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Tencent Music Entertainment Group's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Tencent Music Entertainment Group's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Tencent Music Entertainment Group falls in the Low attractiveness / Medium strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Tencent Music Entertainment Group's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 33.5 points above the industry median.
- Latest-quarter revenue run-rate is accelerating (+300.0% annualized vs trailing 12 months).
Weaknesses
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Low relative market share vs the industry leader (0.09x).
Opportunities
No rule matched.
Threats
- Tracked peer group's revenue run-rate is broadly decelerating (-2.9% annualized).
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Tencent Music Entertainment Group's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Tencent Music Entertainment Group | 0.58 | 2.22 | 0.00 |
| Roblox Corporation | 0.21 | 0.90 | 3.02 |
| Qutoutiao Inc | 0.48 | 0.52 | - |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Tencent Music Entertainment Group's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Tencent Music Entertainment Group | Q4 2025 | +23.8 % | +70.6 % |
| Roblox Corporation | Q2 2026 | +35.9 % | - |
| Qutoutiao Inc | Q4 2024 | +33.3 % | - |
| PEERS TOTAL | +26.5 % | +116.7 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Tencent Music Entertainment Group's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Tencent Music Entertainment Group | Q4 2025 | -30.8 % | +2.2 % |
| Roblox Corporation | Q2 2026 | +23.7 % | +6.1 % |
| Qutoutiao Inc | Q4 2024 | +30.9 % | +150.0 % |
Tencent Music Entertainment Group's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Tencent Music Entertainment Group | 11.07% | 11.48% | 13.67% |
| Roblox Corporation | - | - | - |
| Qutoutiao Inc | - | - | - |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Tencent Music Entertainment Group's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Tencent Music Entertainment Group | 36.36 | - |
| Roblox Corporation | - | 5.32 |
| Qutoutiao Inc | - | 0.10 |
| PEERS AVERAGE | 45.86 | 2.81 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.