$Tencent Music(TME)$ delivered an impressive performance in 2024, with total revenue reaching 28.4 billion yuan, a 2.3% year-over-year increase, while adjusted net profit surged by 30.7% to 8.14 billion yuan.
The online music subscription segment saw particularly strong growth, rising 25.9% YoY to 15.23 billion yuan—3.5 times the annual revenue of its competitor, $NTES-S(09999)$ Cloud Music.
With the growing maturity of the online music market and increasing user willingness to pay, Tencent Music remains a solid long-term investment!
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