Tencent Music $TME posted solid Q2 results — adjusted net profit +5% YoY to $412M, revenue +6% to $1.3B. Music services revenue grew 11% to $1.1B, showing real momentum in their core streaming business.
Nice to see steady execution here. Music streaming in China remains a scale game with improving unit economics. TME continues to benefit from subscriber growth and better monetization per user. Clean beat on the topline, especially in music services — that's where the margin leverage lives long-term.
Not flashy, but consistent. Quality compounder in a market that's been tough. Worth watching how they continue to convert users and expand ARPU.
Nice to see steady execution here. Music streaming in China remains a scale game with improving unit economics. TME continues to benefit from subscriber growth and better monetization per user. Clean beat on the topline, especially in music services — that's where the margin leverage lives long-term.
Not flashy, but consistent. Quality compounder in a market that's been tough. Worth watching how they continue to convert users and expand ARPU.