Company DescriptionTencent Music Entertainment Group operates online music entertainment platforms to provide music streaming, online karaoke, and live streaming services in the People's Republic of China. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover and listen to music in personalized ways; and WeSing, which enables users to have fun by singing and interacting with friends, sharing their singing performances with friends, and discovering songs that others have sung. The company also operates Kugou Music, Kuwo Music, WeSing, QQ Music, Kugou Live, and Kuwo Live that provides an interactive online stage for performers and users to showcase their talent and engage with those interested in their performance; and Kuwo Changting, an audio platform that offers users various audio content, including audio books, cross-talks, radio dramas, and other entertainment. In addition, it sells music-related merchandise, including Kugou headsets, smart speakers, WeSing karaoke microphones, and Hi-Fi systems; and offers online music event ticketing services, as well as services to smart device and automobile makers to build and operate music services on devices and vehicles. Tencent Music Entertainment Group has a strategic partnership with China Literature. The company is headquartered in Shenzhen, China. Tencent Music Entertainment Group is a subsidiary of Tencent Holdings Limited.
How the Company Makes MoneyTencent Music Entertainment Group generates revenue primarily through its two main business segments: online music services and social entertainment services. The online music services segment includes subscriptions, digital music sales, and advertising, where users pay for premium memberships to access high-quality music, download songs, and enjoy an ad-free experience. The social entertainment services segment, which is a significant revenue driver, includes virtual gifts and premium memberships, particularly within its online karaoke and live streaming platforms. Users purchase virtual items to interact with performers, enhance their experience, and show support. Additionally, TME benefits from its strategic partnerships with record labels and music rights holders, which ensure a vast library of licensed music content. These partnerships are crucial in maintaining a competitive edge in content offerings and user engagement.