11月12日，腾讯音乐公布第三季度业绩。财报显示，2025年第三季度腾讯音乐总收入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%。 据了解，目前腾讯音乐运营着在国内市场广受欢迎的创新性音乐产品，包括QQ音乐、酷狗音乐、酷我 音乐和全民K歌。平台提供在线音乐、在线音频、在线K歌、以音乐为核心的直播及在线演出等服务。 在主要运营指标上，月活跃用户数略有下降，下降4.3%至5.51亿，付费用户数则是上涨5.6%，达到1.26 亿。在具体业务方面，腾讯音乐的在线音乐服务收入相比2024年同期的人民币54.8亿元增长27.2%，达 到人民币69.7亿元，这得益于在线音乐订阅收入的强劲增长，以及线下演出、广告服务和艺人周边收入 的增长。 其中，在线音乐订阅收入为人民币45.0亿元，相比2024年同期的人民币38.4亿元增长17.2%。这一显著 增长主要由单个付费用户月均收入的提升所推动。单个付费用户月均收入从2024年同期的人民币10.8元 增长至2025年第三季度的人民币11.9元，其增长主要是由于腾讯音乐持续扩充超级会员权益，从而推动 了超级会员的增长。 据介绍，腾讯音乐的多层级会员 ...

Core Insights - Tencent Music operates popular music products in the domestic market, including QQ Music, Kugou Music, Kuwo Music, and Quanmin Kge, offering services such as online music, audio, karaoke, live streaming, and online performances [1][2] Financial Performance - In Q3 2025, Tencent Music reported total revenue of RMB 84.6 billion, a year-on-year increase of 20.6%, and an adjusted net profit of RMB 24.8 billion, up 27.7% year-on-year [3] - Online music service revenue grew by 27.2% year-on-year to RMB 69.7 billion, driven by strong growth in online music subscription revenue and increases in offline performances, advertising services, and artist-related income [1] User Metrics - Monthly active users slightly decreased by 4.3% to 551 million, while the number of paying users increased by 5.6% to 126 million [1] - Online music subscription revenue reached RMB 45.0 billion, a 17.2% increase from RMB 38.4 billion in the same period last year, primarily due to an increase in average revenue per paying user [1] Membership Strategy - Tencent Music's multi-tier membership system enhances user engagement and conversion, offering differentiated services through free, ad-supported, and standard memberships to meet diverse user needs [2] - The newly introduced ad-supported membership has shown increasing appeal to free users, with daily usage time on the platform continuing to rise [2]