Tencent Music Entertainment Group reported unaudited first-quarter 2026 revenue of RMB7.90 billion ($1.15 billion), up 7.3% year-over-year. Non-IFRS net profit attributable to equity holders rose 7.0% to RMB2.27 billion ($330 million).
Music-related services revenue increased 12.2% to RMB6.51 billion ($944 million). Within that, membership services revenue rose 6.6% to RMB4.57 billion, while non-membership music services revenue jumped 28.0% to RMB1.94 billion, helped by offline performances and advertising.
The company said growth in the quarter was supported by stronger music IP monetization, including digital albums, concerts, merchandise, and offline events. Tencent Music also highlighted continued expansion of SVIP and fan membership products, deeper traffic conversion through Weixin Video Account, and broader use of AI in recommendations, music creation, and legacy catalog promotion. [TechNode reporting]