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Tencent Music Entertainment Group Announces Fourth Quarter and Full-Year 2023 Unaudited Financial Results

Retrieved on:

Tuesday, March 19, 2024

For example, we renewed multi-year strategic cooperation with Universal Music Group to provide users with ongoing access to its world-class music catalog with expanded privileges.

Key Points:

For example, we renewed multi-year strategic cooperation with Universal Music Group to provide users with ongoing access to its world-class music catalog with expanded privileges.
Capitalized on rising live music opportunities by hosting a growing number of offline music events in multi-faceted performance formats in 2023.
Effective tax rate for the fourth quarter of 2023 was 17.3% compared to 12.2% in the same period of 2022.
[2] Starting from the first quarter of 2023, online music MAUs include unique mobile and certain IoT devices.

Tencent Music Entertainment Group and Universal Music Group Extend Multi-year Strategic Licensing Agreement

Retrieved on:

Wednesday, January 3, 2024

Atmos, Music, Ecosystem, Family, Partnership, TME, Tencent Music, HKEX, QQ Music, HD, UMG, Growth, Creativity, EVP, Universal Music Group

SHENZHEN, China, Jan. 3, 2024 /PRNewswire/ -- Tencent Music Entertainment Group ("TME," or the "Company") (NYSE: TME and HKEX: 1698), the leading online music and audio entertainment platform in China, and Universal Music Group ("UMG"), the world's leading music-based entertainment company, today announced the renewal of a multi-year strategic licensing agreement, fortifying their shared commitment to creating value for artists and exceptional experiences for music lovers.

Key Points:

SHENZHEN, China, Jan. 3, 2024 /PRNewswire/ -- Tencent Music Entertainment Group ("TME," or the "Company") (NYSE: TME and HKEX: 1698), the leading online music and audio entertainment platform in China, and Universal Music Group ("UMG"), the world's leading music-based entertainment company, today announced the renewal of a multi-year strategic licensing agreement, fortifying their shared commitment to creating value for artists and exceptional experiences for music lovers.
Under the agreement, TME continues to have access to UMG's music catalogue for QQ Music, Kugou Music, Kuwo Music, and WeSing.
Adam Granite, UMG's EVP of Market Development, said, "We are pleased to extend our licensing agreement with TME for the Chinese market.
UMG will continue to work with TME to bring the very best in music to these passionate music consumers, and to explore new ways to enhance their listening experiences."

Tencent Music Entertainment Group Announces Third Quarter 2023 Unaudited Financial Results

Retrieved on:

Tuesday, November 14, 2023

1) Venus introduced its zero-shot AI-powered music production tool and Vocal Producer upgraded its function to support AI-generated music content in multiple languages.

Key Points:

1) Venus introduced its zero-shot AI-powered music production tool and Vocal Producer upgraded its function to support AI-generated music content in multiple languages.
For example, we helped Angela Zhang's Beast and Yang Junan's Summer Love chart on various popular music lists in Singapore.
1) We continued upgrading our recommendation middle platform to enhance each of our Apps' ability to personalize music recommendations.
[2] Starting from the first quarter of 2023, online music MAUs began to include unique mobile and certain IoT devices.

Revolutionizing Cockpit Entertainment: Unveiling 2023 Passenger Car Trends and Innovations - ResearchAndMarkets.com

Retrieved on:

Monday, September 11, 2023

The "Passenger Car Cockpit Entertainment Research Report, 2023" report has been added to ResearchAndMarkets.com's offering.

Key Points:

The "Passenger Car Cockpit Entertainment Research Report, 2023" report has been added to ResearchAndMarkets.com's offering.
The Passenger Car Cockpit Entertainment Research Report for 2023 explores the landscape of cockpit entertainment function layouts within passenger car original equipment manufacturers (OEMs) and cockpit entertainment product layouts among suppliers.
The report provides insights into the current state of cockpit entertainment development and predicts future trends in this field.
In conclusion, the evolution of cockpit entertainment is entering a new phase, focusing on immersive scenarios such as gaming.

Beyond the Steering Wheel: Passenger Car Cockpit Entertainment Evolution Explored in 2023 Report

Retrieved on:

Friday, September 1, 2023

Atmos, Aion, Cloud, LED-backlit LCD, Data center, FM, Social, AMD, Smartphone, Music, Kirin, Software, Original equipment manufacturer, IVI, Model, Human, BYD, Qualcomm, NIO, HDR, QQ Music, XPeng, Cisco Webex, WeChat, GeForce, BMW, BMW 5 Series, AAA, Business model, NVIDIA, OLED, AirConsole, KuGou, Computer, Delivery, Zoom, Ecosystem, OEM, Tesla, Tesla Model S, Dolby Atmos, GeForce Now, AR, Steam, Li Auto, Mercedes-Benz COMAND, Amusement park, Video game, Nvidia

DUBLIN, Sept. 1, 2023 /PRNewswire/ -- The "Passenger Car Cockpit Entertainment Research Report, 2023" report has been added to ResearchAndMarkets.com's offering.

Key Points:

DUBLIN, Sept. 1, 2023 /PRNewswire/ -- The "Passenger Car Cockpit Entertainment Research Report, 2023" report has been added to ResearchAndMarkets.com's offering.
The Passenger Car Cockpit Entertainment Research Report for 2023 explores the landscape of cockpit entertainment function layouts within passenger car original equipment manufacturers (OEMs) and cockpit entertainment product layouts among suppliers.
The report provides insights into the current state of cockpit entertainment development and predicts future trends in this field.
In conclusion, the evolution of cockpit entertainment is entering a new phase, focusing on immersive scenarios such as gaming.

Tencent Music Entertainment Group Announces Second Quarter 2023 Unaudited Financial Results

Retrieved on:

Tuesday, August 15, 2023

All of these efforts contributed to our record high of 99.4 million paying users in the second quarter of 2023.

Key Points:

All of these efforts contributed to our record high of 99.4 million paying users in the second quarter of 2023.
Due to such measures, our social entertainment services performed weaker than expected for the reported quarter and will continue facing pressure throughout the second half of 2023.
In the second quarter of 2023, we cooperated with Tencent Charity and other public welfare organizations and held two "Little Red Flower Charity Concerts" for children.
[3] Starting from the first quarter of 2023, online music MAUs began to include unique mobile and certain IoT devices.

Xiaomi and QQ Music teamed up with Savitech’s LHDC 5.0 to wirelessly release "master tape level" 24bit/192kHz audio quality

Retrieved on:

Wednesday, April 26, 2023

Entertainment, Consumer Electronics, Technology, Music, Audio, Video, Hardware, TWS, QQ Music, JAS, Tencent Music, TME, Multimedia, LHDC, Corp, Mastering (audio), Cassette tape, Consumer electronics

LHDC is an internationally recognized high-definition audio technology, and the JAS Hi-Res Audio Wireless standard specifies that true wireless earbuds must use LHDC coding and decoding.

Key Points:

LHDC is an internationally recognized high-definition audio technology, and the JAS Hi-Res Audio Wireless standard specifies that true wireless earbuds must use LHDC coding and decoding.
Xiaomi and QQ Music teamed up with Savitech’s LHDC 5.0 to wirelessly release "master tape-level" 24bit/192kHz audio quality.
LHDC 5.0 developed by Savitech uses a fifth-generation core algorithm to elevate wireless audio transmission resolution to "Master Tape level" 24bit/192kHz.
Xiaomi, QQ Music, and Savitech LHDC 5.0 have joined forces, guided by technology, to unleash the 24bit/192kHz quality of "master tape" and officially usher in the "masterpiece era" of audio.

Tencent Music Entertainment Group Announces Fourth Quarter and Full-Year 2022 Unaudited Financial Results

Retrieved on:

Tuesday, March 21, 2023

SHENZHEN, China, March 21, 2023 /PRNewswire/ -- Tencent Music Entertainment Group ("TME," or the "Company") (NYSE: TME and HKEX: 1698), the leading online music and audio entertainment platform in China, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2022.

Key Points:

SHENZHEN, China, March 21, 2023 /PRNewswire/ -- Tencent Music Entertainment Group ("TME," or the "Company") (NYSE: TME and HKEX: 1698), the leading online music and audio entertainment platform in China, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2022.
Revenues from online music services other than subscriptions for the fourth quarter of 2022 increased by 29.8% year-over-year and by 2.3% quarter-over-quarter to RMB1.21 billion (US$175 million).
Revenues from social entertainment services and others for the fourth quarter of 2022 decreased by 18.2% year-over-year to RMB3.87 billion (US$561 million).
Cost of revenues for the fourth quarter of 2022 decreased by 8.1% year-over-year to RMB4.98 billion (US$722 million).

Tencent Music Entertainment Group Introduces TME UNI Chart on Billboard to Promote Chinese Music in Global Markets

Retrieved on:

Wednesday, February 8, 2023

WeSeed, Chart, QQ Music, Attention, WeChat, UNI, Music, Tencent Music, TME, Data, JOOX, NYSE, Radio, Algorithm, Ecosystem, Partnership, Billboard, HKEX

Entering 2023, TME has expanded TME UNI Chart's data resources, building the most comprehensive and credible dataset through multi-dimensional statistical algorithms.

Key Points:

Entering 2023, TME has expanded TME UNI Chart's data resources, building the most comprehensive and credible dataset through multi-dimensional statistical algorithms.
Through this partnership with Billboard, TME UNI Chart will not only promote the exchange of data between global authoritative music charts but also help Chinese artists receive more attention from overseas audiences, resulting in the promotion of high-quality Chinese music throughout the world.
In 2022, partnering with Billboard, TME announced the "Chinese Music Gravity Project", a first-of-its-kind initiative dedicated to championing Chinese music across the globe.
TME will continue the deep strategic cooperation with Billboard to bring selected music content to music lovers and to promote the presence of Chinese original music globally.

TrueLake Files Third Lawsuit Claiming Copyright Infringement by Tencent Music Entertainment ("TME") Subsidiary

Retrieved on:

Monday, January 9, 2023

HONG KONG, Jan. 09, 2023 /PRNewswire-PRWeb/ -- Beijing TrueLake Culture Development Limited ("TrueLake BJ"), the partner for business operations of TrueLake Holdings Limited ("TrueLake HK"), a leading publisher of Mandarin and foreign language audiobooks by many of the world's best-selling authors, on August 26, 2022 filed its copyright infringement case against Tencent Technology (Shenzhen) Company Limited ("QQ Music"), a subsidiary of Tencent Music Entertainment Group ("TME").

Key Points:

HONG KONG, Jan. 09, 2023 /PRNewswire-PRWeb/ -- Beijing TrueLake Culture Development Limited ("TrueLake BJ"), the partner for business operations of TrueLake Holdings Limited ("TrueLake HK"), a leading publisher of Mandarin and foreign language audiobooks by many of the world's best-selling authors, on August 26, 2022 filed its copyright infringement case against Tencent Technology (Shenzhen) Company Limited ("QQ Music"), a subsidiary of Tencent Music Entertainment Group ("TME").
In the case, TrueLake BJ alleges that QQ Music has infringed its copyright by providing unauthorized access to some of its most popular audio recordings.
According to numbers made available to the public by QQ Music ( https://apps.apple.com/cn/app/qq%E9%9F%B3%E4%B9%90-%E5%90%AC%E6%88%91%E6... ), these works have been accessed or downloaded over 9.549 million times by its users.
Beijing TrueLake Culture Development Limited is the China operations partner for TrueLake Holdings Limited, a media publisher, specializing in Mandarin and foreign language content.