The first, Revenue and net profit: Tencent Music’s total revenue increased by 31% year-on-year to RMB 5.9 billion ($859 million), Operating profit was RMB 1.09 billion ($158 million), Net profit attributable to shareholders of the company was RMB 927 million ($135 million);
Second, Online music paying users to reach a record 31 million,33.0% year-on-year, net increase of 2.6 million over the previous quarter. This is the quarter with the highest net growth in the first quarter of 2018.
Behind these data, revealed the performance of Tencent Music in the just-concluded quarter. How is this result?? In the past three months, what did Tencent Music do right?? The following is music finance (ID: music business) Observation and re-distribution.
Online music paying users’ growth hit a new high in 5Q
Second-quarter, Online music paying users increased by 33% year-on-year, The increase in paying users has reached a new high in five quarters. Specific, In terms of the number of paid users, Tencent Music Online Music Pays Users Hit a Record of 31 Million.
Spotify’s latest quarterly earnings report, its monthly live users reached 232 million, Paid users increased by 30% year-on-year to 108 million. News from a French roundtable on June 30, Apple senior vice president Eddy Cue said that Apple Music currently has more than 60 million paid subscribers worldwide (including trial users), Become the second-largest online music service provider in the world.
but, Goldman Sachs published a research report, Tencent Music has accounted for 11% of the world’s paid users in 2018.,Expected by 2030, This percentage will rise to 23%, Beyond Apple Music to become the world’s second.
Building a content ecology
Taking into account the user experience, so far, Users can still enjoy most of the content they want to listen to on Tencent Music’s platform for free. The content placed in the pay wall is still only a small part of its huge content library.
Highlight one: Incremental content operation, China’s leading original music platform
In terms of original music content. Data Display, Tencent musicians have uploaded nearly 400,000 songs, Tencent Music’s three platforms play more than 100 billion times, Daily original song playback increased by 200% from the previous month.
Highlight 2: Music Ecology Link Entertainment Industry
In audio + aspect, Data Display, since 2019, Tencent Music has released nearly 100 songs for over 20 TV dramas. For example, recent fires” Chen Qingling, Its OST national wind music album sales, 20 Yuan album, In the QQ music has sold 667,900, cool dog music sales of 21.75 million, Cool my music sales 19,400.
Concealing the first entrance to the music scene
Car, living room, Corresponding to different user consumption music scenes, “Content + hardware” Exploration of the scene ecology, It is in the context of 5G, TME focus layout scene.
Second-quarter, Tesla, the world’s leading electric car brand, can also enjoy the customized music service provided by Tencent Music., Violent mode, Fully automatic driving ability, HEPA biological weapon defense mode, Exclusive mode song list such as pet mode.
8 of the top 10 auto brands in the Chinese market,2 of the top three smart audio brands, And China’s leading smart children’s watch brand, Are using B2B music service provided by TME, Both parties provide high quality to users, Diverse music service.
The core strategy of Tencent Music on the Internet of Things is to improve the user base through the Internet of Things., Cover as many hardware devices as possible. Because once you have occupied various hardware devices such as cars, Ability to serve content on multiple devices, Become a powerful portal for converting paid users.