Tencent Music’s shares rose 2.4% as it exceeded quarterly revenue estimates with growth in its paid subscriber base
The company has been able to establish a robust foundation of long-term paying customers as a result of its targeted promotions.
Tencent Music has expanded its user base by engaging in multi-channel promotions with e-commerce, video platforms, and telecom operators.
In the second quarter, its online music unit experienced a 27.7% increase in revenue, partially compensating for a 42.8% decline in revenue in its social entertainment segment.
Under the control of Tencent Holdings, the company experienced a decline in total revenue during the second quarter, reaching 7.16 billion yuan ($998.59 million). According to LSEG data, analysts anticipated revenue of 7.14 billion yuan.
($1 is equivalent to 7.1701 Chinese yuan renminbi)
Optimistic Rollups and ZK Rollups have emerged as market leaders, contending for dominance through various approaches to scalability, speed, and…
Shytoshi Kusama hints at the launch of the TREAT token, aimed at strengthening Shiba Inu’s ecosystem with trust, governance, and…
SHIB's burn rate soared over 4100% today as the crypto market rallied, with leading analysts suggesting a potential Shiba Inu…
Analysts predict Ether price could reach a $20,000 cycle top, with momentum building in early 2025. In the upcoming weeks,…
Elon Musk scored a significant win against the US SEC as the court rejected the Commission's request to sanction him.…
Coin Center notes that the Trump administration favors crypto but warns that ongoing cases may pose challenges for investors and…