Tencent Music Entertainment Group operates online music entertainment platforms that provides 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 was formerly known as China Music Corporation. The company was incorporated in 2012 and is headquartered in Shenzhen, China. Tencent Music Entertainment Group is a subsidiary of Tencent Holdings Limited.
IPO Year: 2018
Exchange: NYSE
Website: tencentmusic.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/6/2024 | $16.00 | Overweight | Barclays |
| 11/4/2024 | $14.00 | Outperform | Bernstein |
| 9/25/2024 | $13.00 | Overweight → Equal-Weight | Morgan Stanley |
| 8/13/2024 | Outperform → Neutral | Daiwa Securities | |
| 3/20/2024 | $14.00 | Neutral → Buy | Goldman |
| 3/20/2024 | $9.00 → $13.00 | Neutral → Buy | Citigroup |
| 2/5/2024 | $10.50 | Outperform | CLSA |
| 2/5/2024 | $12.00 | Buy | Redburn Atlantic |
| 1/24/2024 | $10.50 | Neutral → Buy | UBS |
| 11/16/2023 | Neutral → Overweight | JP Morgan |
6-K - Tencent Music Entertainment Group (0001744676) (Filer)
6-K - Tencent Music Entertainment Group (0001744676) (Filer)
6-K - Tencent Music Entertainment Group (0001744676) (Filer)
6-K - Tencent Music Entertainment Group (0001744676) (Filer)
S-8 - Tencent Music Entertainment Group (0001744676) (Filer)
6-K - Tencent Music Entertainment Group (0001744676) (Filer)
6-K - Tencent Music Entertainment Group (0001744676) (Filer)
6-K - Tencent Music Entertainment Group (0001744676) (Filer)
6-K - Tencent Music Entertainment Group (0001744676) (Filer)
6-K - Tencent Music Entertainment Group (0001744676) (Filer)
SHENZHEN, China, Oct. 14, 2024 /PRNewswire/ -- Tencent Music Entertainment Group ("TME", or the "Company") (NYSE:TME), the leading online music and audio entertainment platform in China, today announced that it will report its unaudited financial results for the third quarter of 2024 before the U.S. market opens on Tuesday, November 12, 2024. TME's management will host a Tencent Meeting Webinar on Tuesday, November 12, 2024, at 6:00 A.M. Eastern Time or 7:00 P.M. Beijing/Hong Kong Time on Tuesday, November 12, 2024, to review and discuss the Company's business and financial performance. For participants who wish to join the Tencent Meeting Webinar, please complete online registration in adv
SHENZHEN, China, Aug. 13, 2024 /PRNewswire/ -- Tencent Music Entertainment Group ("TME," or the "Company") (NYSE:TME), the leading online music and audio entertainment platform in China, today announced its unaudited financial results for the second quarter ended June 30, 2024. Second Quarter 2024 Financial Highlights Total revenues were RMB7.16 billion (US$985 million), representing a 1.7% year-over-year decrease, primarily due to a decline in revenues from social entertainment services and others, which was partially offset by strong year-over-year growth in revenues from online music services.Revenues from music subscriptions were RMB3.74 billion (US$515 million), representing 29.4% year
SHENZHEN, China, July 12, 2024 /PRNewswire/ -- Tencent Music Entertainment Group ("TME", or the "Company") (NYSE:TME), the leading online music and audio entertainment platform in China, today announced that it will report its unaudited financial results for the second quarter of 2024 before the U.S. market opens on Tuesday, August 13, 2024. TME's management will host a Tencent Meeting Webinar on Tuesday, August 13, 2024, at 7:00 A.M. Eastern Time or 7:00 P.M. Beijing/Hong Kong Time on Tuesday, August 13, 2024, to review and discuss the Company's business and financial performance. For participants who wish to join the Tencent Meeting Webinar, please complete online registration in advance
SHENZHEN, China, May 13, 2024 /PRNewswire/ -- Tencent Music Entertainment Group ("TME," or the "Company") (NYSE:TME), the leading online music and audio entertainment platform in China, today announced its unaudited financial results for the first quarter ended March 31, 2024 and declared its annual cash dividend for the year ended December 31, 2023. First Quarter 2024 Financial Highlights Total revenues were RMB6.77 billion (US$937 million), representing a 3.4% year-over-year decrease, mainly due to the decline in revenues from social entertainment services and others, which was partially mitigated by strong year-over-year growth in revenues from online music services.Revenues from music s
SHENZHEN, China, April 15, 2024 /PRNewswire/ -- Tencent Music Entertainment Group ("TME", or the "Company") (NYSE:TME), the leading online music and audio entertainment platform in China, today announced that it will report its unaudited financial results for the first quarter of 2024 before the U.S. market opens on Monday, May 13, 2024. TME's management will host a Tencent Meeting Webinar on Monday, May 13, 2024, at 7:00 A.M. Eastern Time or 7:00 P.M. Beijing/Hong Kong Time on Monday, May 13, 2024, to review and discuss the Company's business and financial performance. For participants who wish to join the Tencent Meeting Webinar, please complete online registration in advance using the li
SHENZHEN, China, Feb. 20, 2024 /PRNewswire/ -- Tencent Music Entertainment Group ("TME", or the "Company") (NYSE:TME), the leading online music and audio entertainment platform in China, today announced that it will report its unaudited financial results for the fourth quarter and full year of 2023 before the U.S. market opens on Tuesday, March 19, 2024. TME's management will host a Tencent Meeting Webinar on Tuesday, March 19, 2024, at 7:00 A.M. Eastern Time or 7:00 P.M. Beijing/Hong Kong Time on Tuesday, March 19, 2024, to review and discuss the Company's business and financial performance. For participants who wish to join the Tencent Meeting Webinar, please complete online registration
SHENZHEN, China, July 17, 2023 /PRNewswire/ -- Tencent Music Entertainment Group ("TME", or the "Company") (NYSE:TME), the leading online music and audio entertainment platform in China, today announced that it will report its unaudited financial results for the second quarter of 2023 before the U.S. market opens on Tuesday, August 15, 2023. TME's management will host a Tencent Meeting Webinar on Tuesday, August 15, 2023, at 7:00 A.M. Eastern Time or 7:00 P.M. Beijing/Hong Kong Time on Tuesday, August 15, 2023, to review and discuss the Company's business and financial performance. For participants who wish to join the Tencent Meeting Webinar, please complete online registration in advance u
SHENZHEN, China, April 17, 2023 /PRNewswire/ -- Tencent Music Entertainment Group ("TME", or the "Company") (NYSE:TME), the leading online music and audio entertainment platform in China, today announced that it will report its unaudited financial results for the first quarter of 2023 before the U.S. market opens on Tuesday, May 16, 2023. TME's management will host a Tencent Meeting Webinar on Tuesday, May 16, 2023, at 7:00 A.M. Eastern Time or 7:00 P.M. Beijing/Hong Kong Time on Tuesday, May 16, 2023, to review and discuss the Company's business and financial performance. For participants who wish to join the Tencent Meeting Webinar, please complete online registration in advance using the
SHENZHEN, China, Feb. 20, 2023 /PRNewswire/ -- Tencent Music Entertainment Group ("TME", or the "Company") (NYSE:TME), the leading online music and audio entertainment platform in China, today announced that it will report its unaudited financial results for the fourth quarter and full year of 2022 before the U.S. market opens on Tuesday, March 21, 2023. TME's management will host a Tencent Meeting Webinar on Tuesday, March 21, 2023, at 7:00 A.M. Eastern Time or 7:00 P.M. Beijing/Hong Kong Time on Tuesday, March 21, 2023, to review and discuss the Company's business and financial performance. For participants who wish to join the Tencent Meeting Webinar, please complete online registration i
SHENZHEN, China, Nov. 15, 2022 /PRNewswire/ -- Tencent Music Entertainment Group ("TME," or the "Company") (NYSE:TME), the leading online music and audio entertainment platform in China, today announced its unaudited financial results for the third quarter ended September 30, 2022. Financial and Operational Highlights In the three months ended September 30, 2022: Net profit of the Company was RMB1.09 billion (US$154 million), representing a 38.7% increase year-over-year and a 22.5% increase on a sequential basis. Non-IFRS net profit of the Company[1] was RMB1.41 billion (US$198 million), representing a 32.7% increase year-over-year and a 32.5% increase on a sequential basis.Total revenues w
Expanding TME's Global Footprint to Elevate International Music Experiences SHENZHEN, China, Oct. 17, 2024 /PRNewswire/ -- Tencent Music Entertainment Group (TME) today announced a strategic partnership with Galaxy Corporation, the agency representing the influential global musician G-Dragon, for his upcoming regional tour. The collaboration marks a significant step forward in TME's ambitions to expand its global presence and further solidify its position in the international music scene. As part of this agreement, TME will act as the proprietary tour partner for G-Dragon's concerts across various markets, including most of Southeast Asia, the Middle East, Hong Kong, Macao, Taiwan, Australi
SHENZHEN, China, Oct. 14, 2024 /PRNewswire/ -- Tencent Music Entertainment Group ("TME", or the "Company") (NYSE:TME), the leading online music and audio entertainment platform in China, today announced that it will report its unaudited financial results for the third quarter of 2024 before the U.S. market opens on Tuesday, November 12, 2024. TME's management will host a Tencent Meeting Webinar on Tuesday, November 12, 2024, at 6:00 A.M. Eastern Time or 7:00 P.M. Beijing/Hong Kong Time on Tuesday, November 12, 2024, to review and discuss the Company's business and financial performance. For participants who wish to join the Tencent Meeting Webinar, please complete online registration in adv
SHENZHEN, China, Sept. 27, 2024 /PRNewswire/ -- Tencent Music Entertainment Group ("TME", or the "Company") (NYSE:TME), the leading online music and audio entertainment platform in China, today released its inaugural Environmental, Social and Governance ("ESG") report. This report highlights the Company's commitment to sustainable practices and long-term value creation, and details the initiatives and performance in key areas such as responsible platform, employee care, and social responsibility. Mr. Cussion Pang, Executive Chairman of TME, commented, "Our inaugural ESG report showcases the steps we are taking to develop and implement a sustainability strategy. Building upon this foundatio
Singapore Kicks Off the First Stop of TME's Music Journey to the World SHENZHEN, China, Sept. 12, 2024 /PRNewswire/ -- On September 11, 2024, Tencent Music Entertainment Group (TME) announced the launch of its Global Music Outreach Initiative, which will bring together talented Chinese music artists and their works to be showcased on prominent stages worldwide. The initiative will kickstart in Singapore from September 13 to 17, beginning a broader series of music and industry exchange activities around the world, including overseas performances, international music creation exchanges, and discussions on future industry development. As Chinese culture continues to capture global attention, TM
SHENZHEN, China, Aug. 13, 2024 /PRNewswire/ -- Tencent Music Entertainment Group ("TME," or the "Company") (NYSE:TME), the leading online music and audio entertainment platform in China, today announced its unaudited financial results for the second quarter ended June 30, 2024. Second Quarter 2024 Financial Highlights Total revenues were RMB7.16 billion (US$985 million), representing a 1.7% year-over-year decrease, primarily due to a decline in revenues from social entertainment services and others, which was partially offset by strong year-over-year growth in revenues from online music services.Revenues from music subscriptions were RMB3.74 billion (US$515 million), representing 29.4% year
SHENZHEN, China, July 26, 2024 /PRNewswire/ -- Tencent Music Entertainment Group ("TME", or the "Company") (NYSE:TME), the leading online music and audio entertainment platform in China, today announced that Ms. Linlin Chen has tendered her resignation from her position as the Company's Group Vice President and other relevant roles for personal reasons, effective September 30, 2024. "On behalf of the Company, we would like to extend our gratitude to Ms. Chen for her dedicated service at TME. We appreciate her continuous hard work and commitment, which greatly contributed to the success of Kugou Music, one of China's leading music streaming platforms. We respect her decision and wish her all
SHENZHEN, China, July 12, 2024 /PRNewswire/ -- Tencent Music Entertainment Group ("TME", or the "Company") (NYSE:TME), the leading online music and audio entertainment platform in China, today announced that it will report its unaudited financial results for the second quarter of 2024 before the U.S. market opens on Tuesday, August 13, 2024. TME's management will host a Tencent Meeting Webinar on Tuesday, August 13, 2024, at 7:00 A.M. Eastern Time or 7:00 P.M. Beijing/Hong Kong Time on Tuesday, August 13, 2024, to review and discuss the Company's business and financial performance. For participants who wish to join the Tencent Meeting Webinar, please complete online registration in advance
SHENZHEN, China, June 28, 2024 /PRNewswire/ -- Tencent Music Entertainment Group ("TME," or the "Company") (NYSE:TME), the leading online music and audio entertainment platform in China, today announced that its annual general meeting (the "AGM") was held in Hong Kong on June 28, 2024 and all the proposed resolutions set out in the notice of the AGM dated May 21, 2024 were duly passed at the AGM. About Tencent Music Entertainment Tencent Music Entertainment Group (NYSE:TME) is the leading online music and audio entertainment platform in China, operating the country's highly popular and innovative music apps: QQ Music, Kugou Music, Kuwo Music and WeSing. TME's mission is to create endless po
SHENZHEN, China, May 21, 2024 /PRNewswire/ -- Tencent Music Entertainment Group ("TME," or the "Company") (NYSE:TME), the leading online music and audio entertainment platform in China, today announced that it will hold its annual general meeting of shareholders (the "AGM") at 10/F, The Hong Kong Club Building, 3A Chater Road, Central, Hong Kong on Friday, June 28, 2024 at 10 a.m. (Beijing/Hong Kong time) for the purposes of considering and, if thought fit, passing the resolutions as set forth in the notice of the AGM (the "AGM Notice"). The AGM Notice and the form of proxy for the AGM are available on the Company's website at https://ir.tencentmusic.com on May 21, 2024. The Board of Directo
SHENZHEN, China, May 13, 2024 /PRNewswire/ -- Tencent Music Entertainment Group ("TME," or the "Company") (NYSE:TME), the leading online music and audio entertainment platform in China, today announced its unaudited financial results for the first quarter ended March 31, 2024 and declared its annual cash dividend for the year ended December 31, 2023. First Quarter 2024 Financial Highlights Total revenues were RMB6.77 billion (US$937 million), representing a 3.4% year-over-year decrease, mainly due to the decline in revenues from social entertainment services and others, which was partially mitigated by strong year-over-year growth in revenues from online music services.Revenues from music s
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Shares of Tencent Music Entertainment Group (NYSE:TME) dipped in early trading on Tuesday, after the company reported results for the first quarter. The results came amid an exciting earnings season. Here are some key analyst takeaways. Mizuho Securities analyst Wei Fang maintained a Buy rating, while lifting the price target from $15 to $17. Benchmark analyst Fawne Jiang reiterated a Buy rating, while raising the price target to $19. Check out other analyst stock ratings. Mizuho Securities: Tencent reported "strong" results for the first quarter, "with Core music revenue growth beating by 5 points on record-high subscriber net adds and advertising outperformance," Fang said
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page. Roth MKM cut the price target for Roblox Corporation (NYSE:RBLX) from $55 to $35. Roth MKM analyst Eric Handler downgraded the stock from Buy to Neutral. Roblox shares fell 1.6% to close at $30.96 on Monday. See how other analysts view this stock. Needham boosted the price target for Verrica Pharmaceuticals Inc. (NASDAQ:VRCA) from $8 to $16. Needham analyst Serge Belanger maintained a Buy rating. Verrica Pharmaceuticals shares jumped 19.5% to close at $9.56 on Monday. See how other analysts view th
Mizuho analyst Wei Fang maintains Tencent Music Enter Gr (NYSE:TME) with a Buy and raises the price target from $15 to $17.
SHENZHEN, China, Sept. 14, 2022 /PRNewswire/ -- Tencent Music Entertainment Group ("TME", or the "Company") (NYSE:TME), the leading online music and audio entertainment platform in China, announced on September 15, 2022 (Beijing/Hong Kong Time) the resignation of Mr. Liang Tang from the board of directors (the "Board") and the compensation committee of the Board, effective immediately. The Board also approved the appointment of Ms. Jeanette Kim Yum Chan as an independent director, and Ms. Edith Manling Ngan as a member of the compensation committee, both effective immediately. Ms. Ngan will continue to serve as an independent director and a member of our audit committee. "On behalf of our Bo
SHENZHEN, China, May 27, 2022 /PRNewswire/ -- Tencent Music Entertainment Group ("TME", or the "Company") (NYSE:TME), the leading online music and audio entertainment platform in China, today announced that Mr. Martin Chi Ping Lau, who has served as a director of the Company's Board of Directors (the "Board") since 2016, has decided to resign from the Board, effective immediately. At the same time, the Company is pleased to announce the appointment of Mr. Matthew Yun Ming Cheng, to its Board, also effective immediately. "On behalf of our Board, we would like to express our deep gratitude to Martin for his years of services to the TME Board and his invaluable contributions to the Company. His
SHENZHEN, China, April 14, 2021 /PRNewswire/ -- Tencent Music Entertainment Group ("Tencent Music," "TME," or the "Company") (NYSE:TME), the leading online music entertainment platform in China, today announced the appointment of Mr. Cussion Kar Shun Pang as TME's Executive Chairman of the Board of Directors (the "Board"). Mr. Zhu Liang (or "Ross Liang") has been appointed as the Company's new Chief Executive Officer ("CEO") and a member of the Board. Prior to this appointment, Ross served as Vice President of Tencent Holdings Limited ("Tencent") where he was responsible for overseeing a number of major online platforms including QQ, a leading social communication and entertainment platform
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Barclays initiated coverage of Tencent Music with a rating of Overweight and set a new price target of $16.00
Bernstein initiated coverage of Tencent Music with a rating of Outperform and set a new price target of $14.00
Morgan Stanley downgraded Tencent Music from Overweight to Equal-Weight and set a new price target of $13.00
Daiwa Securities downgraded Tencent Music from Outperform to Neutral
Goldman upgraded Tencent Music from Neutral to Buy and set a new price target of $14.00
Citigroup upgraded Tencent Music from Neutral to Buy and set a new price target of $13.00 from $9.00 previously
CLSA initiated coverage of Tencent Music with a rating of Outperform and set a new price target of $10.50
Redburn Atlantic initiated coverage of Tencent Music with a rating of Buy and set a new price target of $12.00
UBS upgraded Tencent Music from Neutral to Buy and set a new price target of $10.50
JP Morgan upgraded Tencent Music from Neutral to Overweight