Tencent Music, which has China’s No. 1 music listening software, has no exclusive copyright blessing, and its receivables will plummet. It is also foreseeable that the decline in active users is inevitable. On May 17, Tencent Music announced the company’s unaudited financial report for the first quarter of fiscal 2022 ended March 31. The report shows that Tencent Music’s total revenue in the first quarter was 6.64 billion yuan (about 1.05 billion U.S. dollars), a decrease of 1.18 billion yuan compared with 7.82 billion yuan in the same period last year, a year-on-year decrease of 15.1%; attributable to the company Net profit for shareholders was RMB 609 million (approximately US$ 96 million), down 34% from RMB 926 million a year earlier. Tencent Music’s mobile MAU (monthly active users) for its online music services in the first quarter was 604 million, down 1.8% from 615 million in the same period last year; mobile MAU for social entertainment services in the first quarter was 162 million, In addition, the number of paying users of online music services in the first quarter was 80.2 million, an increase of 31.7% compared with 60.9 million in the same period last year; however, the number of paying users was 83 .
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