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Tencent Music Revenue Jumps 18% on Strong Subscription Growth: ‘Impressive Momentum’
While Tencent Music’s total number of monthly average users fell 3% to 551 million, the number of subscribers rose 6.3% to 124.4 million. That drove a 17% year-over-year increase in music subscriptions revenue to a total of 4.38 billion RMB ($611 million). Overall online music services revenue rose to 6.85 billion RMB ($957 million).
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