Tencent Music Entertainment Group TME Reports a Q4 Revenue Decline

Tencent Music Entertainment Group TME Reports a Q4 Revenue Decline

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Tencent Music Entertainment Group reported a fourth-quarter revenue decline of 7.2% year-over-year to $971 million (CNY6.89 billion) The Q4 Monthly active users (MAUs) for online music declined by 4.2% Y/Y to 576 million. Mobile MAUs for social entertainment decreased by 28.8% Y-Y to 104 million. Online music service revenues grew by 41.1% to $707 million, while the revenues from music subscriptions were $481 million, an increase of 45

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