对于周杰伦发新专辑，最开心的恐怕是腾讯音乐了。 眼下，腾讯正在陷入一场"流量危机"。 财报显示，在2025年四季度，腾讯音乐在线音乐服务 月活用户数同比下滑5%至5.28亿。腾讯音乐旗下有QQ音乐、酷狗音乐、酷我音乐三大主要终 端渠道。 受此影响，财报发布后，腾讯音乐股价大跌超过20%。 今天，我们就来聊下 ，拥有周杰伦等头部资源的腾讯音乐，为何依旧陷入流量危机？ 首先，我们必须要看到，腾讯音乐越来越赚钱了。 但是，腾讯音乐的完美商业闭环，被字节跳动打破了。 在2025年四季度，腾讯音乐营收同比增长15.9%至86.4亿元；归母净利润同比增长12.6%至22 亿元。 背后是，免费听腾讯音乐越来越难。 要么，开通至少每月续费25元的会员，要么享受看15秒广告听30分钟音乐的待遇。 在付费墙推动下，在2025年四季度，腾讯音乐在线音乐服务付费用户数同比增长5.3%至1.274 亿；单个付费用户月均收入（ARPPU）同比增长7.2%至11.9元。 本来，这是个很好的商业闭环，因为腾讯音乐拥有周杰伦、SHE等头部艺人资源，想听他们就 必须花钱。月活可以下滑，只要收入增长就可以了。 QuestMobile数据显示，在2 ...

Apple Music announced on Tuesday that it’s partnering with Ticketmaster to power its concert discovery feature. This integration aims to improve how users discover live music events based on their listening habits.Ticketmaster is the first ticketing service to integrate with Apple Music, allowing listeners to find nearby concerts and events tailored to their individual music preferences. Every event listing on the music streaming app now includes a direct link to Ticketmaster for easy ticket purchasing. Wi ...

Spotify is increasingly leaning into artificial intelligence to keep users tuned in.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.And as CNBC noted in a report Sunday (March 22), experts say these tech investment ...

Shares of Tencent Music Entertainment (NYSE: TME) fell 28.8% this week through 3:30 p.m. Friday, according to data from S&P Global Market Intelligence. Tencent Music is sometimes regarded as the "Spotify (NYSE: SPOT) of China," since it's the leading streaming music subscription service in the country. However, Tencent Music's business is a bit different, as it also generates revenue from social music interactions, such as karaoke tipping and other interactive services. Will AI create the world's first t ...

SHENZHEN, China, March 19, 2026 /PRNewswire/ -- Millions of music fans are eagerly awaiting another historic moment for Mandopop. After three years and eight months, iconic Mandopop artist Jay Chou is set to release his 16th studio album, “Children of the Sun.” Pre-orders officially began at 13:00 on March 19 across Tencent Music Entertainment Group’s three major platforms: QQ Music, Kugou Music, and Kuwo Music.From youthful anthems to legendary status, Jay Chou now makes a monumental return under the title ...

点击注册小程序 查看完整报告 特别申明： 本订阅号中所涉及的证券研究信息由光大证券研究所编写，仅面向光大证券专业投资者客 户，用作新媒体形势下研究信息和研究观点的沟通交流。非光大证券专业投资者客户，请勿 订阅、接收或使用本订阅号中的任何信息。本订阅号难以设置访问权限，若给您造成不便， 敬请谅解。光大证券研究所不会因关注、收到或阅读本订阅号推送内容而视相关人员为光大 证券的客户。 报告摘要 事件： 本订阅号是光大证券股份有限公司研究所（以下简称"光大证券研究所"）依法设立、独立运营 的官方唯一订阅号。其他任何以光大证券研究所名义注册的、或含有"光大证券研究"、与光大 证券研究所品牌名称等相关信息的订阅号均不是光大证券研究所的官方订阅号。 免责声明 4Q25在线音乐业务 延续了稳健的增长态势，但订阅业务边际走弱，非订阅业务增长强势。在线音乐业务收入71.0亿元 （yoy+21.7%），占总收入比例同比提升4.0pct至82.2%。1）会员订阅收入45.6亿元（yoy+13.2%），订阅 用户达1.27亿人（yoy+5.3%），SVIP用户规模达超2000万人，订阅ARPPU同比增长7.2%达11.9元，但环 比基 ...

The fallout from a weaker-than-expected earnings report published by Tencent Music Entertainment (NYSE: TME) continued on Wednesday. For the second day in a row, the China-based company was hit with analyst price target cuts, as well as two recommendation downgrades. This pushed the stock down by over 9%. Earnings fallout One of the downgrades came from Benchmark's Fawne Jiang, who lowered her rating on Tencent Music to hold from the previous buy. No price target was provided. Will AI create the world's ...

Core Viewpoint - Johnson Fistel, PLLP is investigating potential claims on behalf of investors of Tencent Music Entertainment Group due to significant losses following the company's recent financial disclosures [1][3]. Group 1: Investigation Details - The investigation focuses on whether Tencent Music's executive officers complied with federal securities laws after the company reported a 5.2% year-over-year decline in social entertainment services and other revenues, amounting to RMB1.54 billion (approximately US$221 million) [3]. - Following the announcement of its Q4 2025 results, Tencent Music's stock experienced a significant drop of 24.65% on March 17, 2026 [3]. Group 2: Investor Information - Investors who purchased Tencent Music securities and incurred losses are encouraged to join the investigation, with no cost or obligation involved [2]. - For further inquiries, investors can contact Jim Baker at Johnson Fistel for more information [2].

Core Viewpoint - The article emphasizes the importance of identifying value investment opportunities in Asia, particularly focusing on stocks that exhibit a significant disparity between their market price and intrinsic value, as well as those with strong competitive advantages [1] Group 1: Investment Strategy - The research service targets value investors looking for Asia-listed stocks that are undervalued, specifically deep value balance sheet bargains and wide moat stocks [1] - Deep value balance sheet bargains include assets purchased at a discount, such as net cash stocks, net-nets, low price-to-book (P/B) stocks, and sum-of-the-parts discounts [1] - Wide moat stocks refer to high-quality businesses with sustainable competitive advantages, including "Magic Formula" stocks and hidden champions [1] Group 2: Market Focus - The primary focus is on the Hong Kong market, where the analyst has over a decade of experience in both buy and sell-side roles [1] - The investment group provides a range of watch lists with monthly updates to assist investors in identifying potential opportunities [1]

The most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need to know, as compiled by The Fly.Top 5 Upgrades: TD Cowen upgraded Grail (GRAL) to Buy from Hold with a price target of $65, down from $114. The firm believes the recent selloff in the shares creates an attractive entry point.BNP Paribas upgraded Extra Space Storage (EXR) to Outperform from Neutral with a price target of $154, up from $141. 2025 results suggest ...