Tencent Music Posts Solid Q1 2026 Growth on Expanding Music Services

Tencent Music Entertainment Group Class A ( (HK:1698) ) has provided an announcement.

Tencent Music Entertainment Group, the leading online music and audio entertainment platform in China, derives most of its business from music-related services, particularly membership-based access to music and audio content and associated digital privileges. Listed in both New York and Hong Kong, the company targets China’s fast-growing digital music consumption market through a broad mix of subscription and other music service revenues.

For the first quarter of 2026, Tencent Music reported a 7.3% year-over-year rise in total revenue to RMB7.90 billion, driven mainly by 12.2% growth in music-related services revenue to RMB6.51 billion. Membership services revenue rose 6.6% to RMB4.57 billion, while non-membership music services surged 28.0%, and on a non-IFRS basis adjusted EBITDA climbed 10.5% and net profit grew 7.0%, underscoring solid operational momentum despite a lower IFRS net profit comparison due to a one-off gain in 2025.

The most recent analyst rating on (HK:1698) stock is a Buy with a HK$69.00 price target. To see the full list of analyst forecasts on Tencent Music Entertainment Group Class A stock, see the HK:1698 Stock Forecast page.

More about Tencent Music Entertainment Group Class A

Tencent Music Entertainment Group is a leading online music and audio entertainment platform in China, operating under the ticker TME on the NYSE and 1698 on HKEX. The company focuses on music-related services, including paid membership offerings that provide access to digital music and audio content as well as other in-platform benefits and privileges.

Average Trading Volume: 1,994,079

Technical Sentiment Signal: Sell

Current Market Cap: HK$107.2B

Learn more about 1698 stock on TipRanks’ Stock Analysis page.