Growing Streaming Subscriptions Lift Tencent Music Entertainment Profits in Third Quarter

Growing streaming subscriptions lifted the bottom line at Tencent Music Entertainment, in the third quarter of its financial year, despite a top line decrease in revenues. Net profits hit $ 173 million (RMB1.26 billion), representing a 16% year-over-year increase. Tencent Music, which is a major stakeholder in both Spotify and Universal Music Group, reported figures on […]
Variety