10 things we learned from Tencent Music’s IPO filing
Posted on: 3 octobre 2018, by : Stuart Dredge

Tencent Music published its filing to go public last night. We’ve been filleting the document to pull out some of the most interesting data and strategic titbits on the Chinese digital-music company.
1.  The big figures
Tencent Music’s total revenues were RMB 10.98bn in 2017 (that’s $1.66bn) having grown by 151.8% year-on-year. The company recorded a net profit of $199m in 2017. Meanwhile, in the first half of 2018, its revenues grew by 92% year-on-year to $1.3bn, while its net profit was $263m.
The company claims more than 800 million unique monthly active users (MAUs) across its four biggest products: streaming services QQ Music, Kugou Music and Kuwo Music, and karaoke app WeSing.
Tencent Music grew its number of paying music customers from 16.6 million at the end of Q2 2017 to 23.3 million at the end of Q2 this year. That helped it grow its quarterly streaming-subscription revenues from $62.9m to $88m in the same period.
The post 10 things we learned from Tencent Music’s IPO filing appeared first on Music Ally.
Source: Music ally

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