TME(US:TME) 智通财经网·2025-05-14 11:42Core Viewpoint - Tencent Music Entertainment Group reported a solid growth in Q1 2025, with total revenue increasing by 8.7% year-on-year to 7.36 billion yuan and adjusted net profit rising by 22.8% to 2.23 billion yuan [2] Group 1: Financial Performance - Total revenue for Q1 2025 reached 7.36 billion yuan, reflecting an 8.7% year-on-year growth [2] - Adjusted net profit increased by 22.8% to 2.23 billion yuan [2] - Online music service revenue grew by 15.9% to 5.8 billion yuan, with subscription revenue up by 16.6% to 4.22 billion yuan [2] Group 2: User Growth and Engagement - The number of paid users for online music reached 122.9 million, with ARPPU increasing to 11.4 yuan [2] - The growth in paid users was driven by exclusive high-quality content and benefits, particularly in the super membership segment [2] - Long audio content has become a significant driver for the conversion and retention of super members [2][6] Group 3: Long Audio Content Strategy - Tencent Music's long audio strategy, initiated in 2020, has led to substantial progress, with a rich ecosystem of long audio content [4] - Collaborations with popular IPs and top voice actors have resulted in successful audio dramas, such as "The Grave Robbers' Chronicles," which quickly surpassed 10 million plays [4][6] - The company has introduced AI-assisted tools to enhance the production efficiency of long audio content, exemplified by the launch of the AI audio drama "A Mortal's Journey to Immortality" [6][8] Group 4: Technological Innovation - Tencent Music leverages AIGC and other technologies to provide differentiated platform features and services for long audio enthusiasts [8] - The integration of long audio content with core online music services has enhanced user engagement and expanded the super member base [8]