| Market Capitalization (Millions $) |
- |
| Shares
Outstanding (Millions) |
- |
| Employees |
19 |
| Revenues (TTM) (Millions $) |
4,886 |
| Net Income (TTM) (Millions $) |
1,686 |
| Cash Flow (TTM) (Millions $) |
0 |
| Capital Exp. (TTM) (Millions $) |
45 |
Business Description
Tencent Music Entertainment Group (TME) is a leading online music platform in China. It is a subsidiary of the Tencent Holdings Limited (Tencent), which is a multinational conglomerate holding company that is headquartered in Shenzhen, China. TME was founded in 2016 out of the merger between Tencent's QQ Music and China Music Corporation (CMC).
TME provides its users with a comprehensive range of music-related services, including music streaming, online karaoke, live streaming, and social media platforms. The company's services are available to users through its four main platforms: QQ Music, Kugou Music, Kuwo Music, and WeSing.
QQ Music is TME's flagship platform, and it is the most popular online music platform in China. It has a large music library that includes both domestic and international music, and it offers users the ability to stream music as well as purchase digital tracks. QQ Music has over 800 million registered users and more than 120 million daily active users.
Kugou Music is another popular music platform operated by TME that is known for its focus on hip-hop and electronic music. The platform has more than 450 million registered users and more than 50 million daily active users.
Kuwo Music is another music platform under TME that has a large library of music, including music from Taiwan and Hong Kong, as well as a significant collection of original music. Kuwo Music has over 100 million registered users and more than 10 million daily active users.
WeSing is TME's online karaoke platform that allows users to sing and record songs, share their performances with friends, and participate in online singing competitions. It has over 200 million registered users and more than 20 million daily active users.
TME has a significant presence in China's live streaming market, where it operates platforms such as Tencent Live and NOW Live. These platforms enable users to live stream performances, events, and other content.
In addition to its music-related platforms, TME also operates social media platforms such as QQ Zone, WeChat, and QQ.
TME has been successful in monetizing its user base through a variety of revenue streams, including digital music sales, online advertising, and live streaming. The company has also been expanding its operations outside of China by entering into partnerships with international music companies and investing in overseas music platforms.
TME has faced some challenges in recent years, including increased competition from rival music platforms and regulatory hurdles in China's online music market. However, the company has continued to innovate and expand its services, making it one of the most successful music platforms in China.
Company Address: Unit 3, Building D, Kexing Science Park, Kejizhongsan Avenue, Shenzhen 518057
Company Phone Number: Stock Exchange / Ticker: NYSE TME
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