Tencent music entertainment Group, China’s dominant online music and audio platform, reported revenue from the second quarter of 2025 of $ 1.18 billion, an increase of 17.9% the year before.
The performance is driven by growth in online music, especially subscriptions and new SVIP premium offers, while social entertainment services continued to decrease.
Svip is Tencent Music’s “Super VIP” level, an expensive premium membership that offers benefits such as improved sound quality, early concert ticket access, exclusive digital albums and collector goods.
Revenue from online music services increased by $ 26.4% to $ 957 million, with revenue for subscription to music that reaches $ 611 million, an increase of 17.1% year to year. Month’s average revenue per paying users climbed to approximately $ 1.63, up from $ 1.49 one year earlier. Paying users amounted to 124.4 million, an increase of 6.3%, even when active users dipped 3.2% to 553 million each month.
Net Profit Attributable to Equity Holders of the Company was $ 336 Million, up 43.2% from the same period Last year. On a non-free basis, that figure improved to $ 359 million, an increase of 37.4%. IFRS-International Financial Reporting Standard-is the global set of accounting rules that companies follow in their official statements, while figures for non-FRS adjust for certain disposable articles to better reflect core performance. Operating profit increased by $ 35.5% to $ 416 million, with the gross margin expanding to 44.4% from 42.0%. Operating costs amounted to $ 161 million, which represented a lower proportion of revenue compared to last year. Tencent Music ended the quarter with $ 4.87 billion in cash, corresponding and short -term investment.
Tencent Music expanded its content ecosystem through new offers with K-pop companies Black Label and HM Music, and a collaboration with Chinese star Wang Feng. The company collaborated with SM Entertainment to release NCT Chenles Chinese EP “Lucid”, with the support of extensive campaigns. It also created the theme song for “The Lychee Road” and increased content development with Zhejiang Satellite TV.
Live events contributed strongly, with G-dragonConcert tour in Macau, which designed 36,000 fans and sells goods. The company also arranged concerts with Fiona Sit, Tia Ray and rapper Gai and supported over 300 offline shows via their City Live and Buff Live platforms.
Product and member innovation remained central. New features included Viper Hifi and Enklick-Sound enhancement 2.0 on Kugou music, plus an AI driving tool. Svip users enjoyed exclusive benefits such as early concert ticket access, artistic albums and collector cards from artists including A-lin, JJ Lin, Jolin Cai, G-Dragon, BlackpinkJC-T, Silence Wang and Aespa. Tencent Music also launched “Bubble” on QQ music in collaboration with Dearu, which enabled K-pop and Chinese music fans to connect directly to artists.
Executive Chairman Cussion Pang said: “We delivered high quality growth during the second quarter and achieved solid years over years in both revenue and profitability. While our music subscription company remained a core growth driver, our expanding suite with music-related service-related advertising, concerts, concerts and artist-imperatives showed.”
“Our focus on product innovation to deliver engrossing user experiences has run solid growth in our online music operations,” dedicated CEO Ross Liang. “We are particularly pleased to see our SVIP subscribers recently surpass 15 million, a new milestone that reflects our users’ deep confidence and loyalty.”