Core Viewpoint - Tencent Music's financial performance shows significant growth, with total revenue increasing by 20.6% year-on-year to 8.46 billion yuan, and adjusted net profit rising by 27.7% to 2.48 billion yuan, driven by its "one body, two wings" strategy in online music services [3] Group 1: Financial Performance - Total revenue for Tencent Music reached 8.46 billion yuan, reflecting a year-on-year growth of 20.6% [3] - Adjusted net profit increased by 27.7% to 2.48 billion yuan [3] - Online music service revenue was 6.97 billion yuan, up 27.2% year-on-year [3] - Online music subscription revenue reached 4.5 billion yuan, growing by 17.2% [3] - The number of paid online music users reached 125.7 million, with ARPPU rising to 11.9 yuan [3] Group 2: Strategic Developments - Tencent Music continues to deepen its "one body, two wings" strategy, enhancing its content ecosystem and expanding international business [3] - The company is focused on upgrading platform features and offering personalized membership services to meet diverse user needs [3] - There is a steady increase in super member penetration and ARPPU, contributing to overall performance growth [3] Group 3: Market Outlook - Analysts from multiple firms, including Morgan Stanley and CICC, express positive long-term expectations for Tencent Music, with ratings of "overweight" and "buy" [4] - Morgan Stanley highlights Tencent Music's clearer strategic layout and the growth potential of concert-related businesses as new revenue drivers [4] - CICC anticipates further growth in super member scale and ARPPU, supporting its "outperform" rating [4]

转自：证券时报 人民财讯11月12日电，11月12日，腾讯音乐公布第三季度业绩。公告显示，2025年第三季度腾讯音乐总 收入为人民币84.6亿元，同比增长20.6%，主要得益于在线音乐服务收入的同比强劲增长。公司权益持 有人应占净利润为人民币21.5亿元，同比增长36.0%，非国际财务报告准则公司权益持有人应占净利润 为人民币24.1亿元，同比增长32.6%。 ...

Core Viewpoint - Tencent Music Entertainment Group reported steady growth in its financial performance for the third quarter ending September 30, 2025, with total revenue reaching 8.46 billion yuan, a year-on-year increase of 20.6% [1] Financial Performance - Total revenue for the third quarter was 8.46 billion yuan, reflecting a 20.6% year-on-year growth [1] - Adjusted net profit for the quarter was 2.48 billion yuan, up 27.7% compared to the previous year [1] - Online music service revenue increased by 27.2% to 6.97 billion yuan [1] - Average revenue per paying user rose from 10.8 yuan in the same quarter of 2024 to 11.9 yuan [1] Strategic Initiatives - The growth was attributed to the deepening of the "one body, two wings" strategy, focusing on content and platform integration [1] - Tencent Music continued to strengthen collaborations with globally recognized record companies and artists [1] - The company is committed to innovating product features and services to meet diverse user needs, creating personalized and differentiated music experiences [1] - Future plans include seizing emerging opportunities and expanding music service offerings in collaboration with industry partners to promote healthy industry development [1]

来源：智通财经 11月12日，腾讯音乐娱乐集团宣布其截至2025年9月30日止第三季度未经审计财务业绩。2025年第三季 度，集团季度总收入为84.6亿元，同比增长20.6%，调整后净利润为24.8亿元，同比增长27.7%。其中， 在线音乐服务收入同比增长27.2%至69.7亿元，单个付费用户月均收入从2024年同期的10.8元增长至11.9 元。 ...

腾讯音乐娱乐集团执行董事长彭迦信表示：「第三季度，得益于在线音乐业务的全方位优异表现，我们 再次取得紮实稳健的业绩增长。通过持续创新丰富内容生态，并将服务拓展至更多现场体验，我们不仅 推动了订阅业务收入稳健提升，也带动了演唱会及艺人周边等非订阅服务的强劲增长。依托坚实的财务 基础和卓越的运营能力，我们将继续拓展音乐服务的边界，为整个音乐行业创造更大价值。」 腾讯音乐娱乐集团首席执行官梁柱表示：「我们很高兴地看到，平台生态持续繁荣。基于不断深化的用 户洞察，我们以创新方式打造个性化服务与体验，推动用户黏性持续提升，促进了超级会员渗透率与单 个付费用户月均收入进一步增长。展望未来，我们将继续强化核心竞争力、提升平台效率，并把握新兴 机遇，持续赋能音乐创作、带动音乐消费。」 格隆汇11月12日丨腾讯音乐─SW(01698.HK)公布2025年第三季度未经审计财务业绩，截至2025年9月30 日止第三季度，总收入为人民币84.6亿元，同比增长20.6%，主要得益于在线音乐服务收入的同比强劲 增长。公司权益持有人应占净利润为人民币21.5亿元，同比增长36.0%。非国际财务报告准则公司权益 持有人应占净利润为人民币24 ...

(本文来自第一财经) 11月12日，腾讯音乐娱乐集团财报显示，第三季度总收入为84.6亿元，同比增长20.6%，调整后净利润 为24.8亿元，同比增长27.7%。其中，在线音乐服务收入同比增长27.2%至69.7亿元，单个付费用户月均 收入从2024年同期的10.8元增长至11.9元。 ...

腾讯音乐娱乐集团执行董事长彭迦信表示："第三季度，得益于在线音乐业务的全方位优异表现，我们 再次取得扎实稳健的业绩增长。通过持续创新丰富内容生态，并将服务拓展至更多现场体验，我们不仅 推动了订阅业务收入稳健提升，也带动了演唱会及艺人周边等非订阅服务的强劲增长。依托坚实的财务 基础和卓越的运营能力，我们将继续拓展音乐服务的边界，为整个音乐行业创造更大价值。" 腾讯音乐娱乐集团首席执行官梁柱表示："我们很高兴地看到，平台生态持续繁荣。基于不断深化的用 户洞察，我们以创新方式打造个性化服务与体验，推动用户黏性持续提升，促进了超级会员渗透率与单 个付费用户月均收入进一步增长。展望未来，我们将继续强化核心竞争力、提升平台效率，并把握新兴 机遇，持续赋能音乐创作、带动音乐消费。" 智通财经APP讯，腾讯音乐-SW(01698)公布2025年第三季度财务业绩，总收入为人民币84.6亿元(11.9亿 美元)，同比增长20.6%。公司权益持有人应占净利润为人民币21.5亿元(3.02亿美元)，同比增长36.0%。 非国际财务报告准则公司权益持有人应占净利润为人民币24.1亿元(3.38亿美元)，同比增长32.6%。 每股 美国 ...

腾讯音乐11月12日发布了2025年Q3财报。第三季度总收入84.6亿元，同比增长20.6%，调整后净利润 24.8亿元，同比增长27.7%。在线音乐服务收入同比增长27.2%至69.7亿元，单个付费用户月均收入 （ARPPU）进一步提升至11.9元。 ...

Core Viewpoint - Tencent Music (TME.US) reported a strong Q3 performance with revenue of 8.46 billion yuan, a year-on-year increase of 20.6%, surpassing the forecast of 8.23 billion yuan [1] Financial Performance - Revenue for Q3 reached 8.46 billion yuan, up 20.6% year-on-year, exceeding the expected 8.23 billion yuan [1] - Operating profit was 2.71 billion yuan, also above the forecast of 2.68 billion yuan [1] Market Reaction - Tencent Music's stock price rose nearly 5% in pre-market trading, reaching $21.77 [1] - The stock's closing price prior to the announcement was $21.55, with a trading volume of 8.73 million shares [1] Strategic Insights - The company is expanding its reach to music platform companies, leveraging its leading position in the industry [1] - AI technology is enhancing user engagement and advertising effectiveness, contributing to the growth in advertising revenue [1]

Core Insights - Tencent Music Entertainment Group reported its unaudited financial performance for the third quarter ending September 30, 2025, showing a total revenue of 8.46 billion yuan, a year-on-year increase of 20.6%, and an adjusted net profit of 2.48 billion yuan, up 27.7% [1] Revenue Breakdown - The online music business continues to drive growth, with online music service revenue increasing by 27.2% year-on-year to 6.97 billion yuan [1] - The average revenue per paid user per month rose from 10.8 yuan in the same period of 2024 to 11.9 yuan [1] Strategic Initiatives - The company achieved robust growth through the deepening of its "content and platform" dual strategy [1] - Tencent Music has strengthened collaborations with globally renowned record companies and artists, hosting large domestic and international tours and expanding its own performance IP matrix [1] - Continuous innovation in product features and services has been implemented to meet the diverse needs of user groups, creating personalized and differentiated music experiences [1]