Tencent Music Entertainment Group

Overview

Tencent Music Entertainment Group is a China-focused online music and audio entertainment company. Its principal music apps are QQ Music, Kugou Music and Kuwo Music; WeSing provides online karaoke. The company also offers social entertainment services and operates JOOX in Hong Kong and parts of Southeast Asia. Its stated mission is “to create endless possibilities with music and technology.” [1]+4

Tencent Music generated RMB32.9 billion in revenue in 2025 and had 5,690 full-time employees at year-end. It is listed on the New York Stock Exchange and the Hong Kong Stock Exchange.[6]+2 [1]+7

Products & services

Tencent Music Entertainment Group’s principal online-music products are QQ Music, Kugou Music and Kuwo Music. They share a substantially integrated music library but have different emphases: QQ Music features popular artists and music video, Kugou combines music with broader entertainment features, and Kuwo focuses on in-car listening. The services also offer long-form audio, including audiobooks and podcasts.[9][10]

WeSing is an online-karaoke app that lets users record and share solo or duet performances in audio or video, with effects and performance-assessment tools. Tencent Music also offers interactive music-performance livestreams through its music apps, WeSing, Kugou Live and Kuwo Live. Its separate TME Live brand produces live-performance events, while the Tencent Musician platform helps independent artists showcase original work.[11]+3

The company earns online-music revenue from subscriptions and offerings such as advertising, digital albums and content licensing; social-entertainment revenue comes primarily from virtual gifts associated with livestreaming and karaoke. In 2024, online music accounted for 76.6% of total revenue, and social entertainment and other services accounted for 23.4%.[15]+2 [9]+9

Geographic presence

Tencent Music Entertainment Group is headquartered in Shenzhen, China, and conducts its operations primarily through subsidiaries and affiliated entities in the People’s Republic of China. Substantially all of its revenue is earned, and substantially all of its expenses are incurred, in the PRC; it does not report a separate geographic revenue breakdown. Its registered office is in the Cayman Islands.[18]+2

The company’s workforce is also concentrated in China: substantially all of its 5,690 full-time employees at year-end 2025 were based there. Outside mainland China, its JOOX music app is available in Hong Kong, Thailand, Malaysia and other Southeast Asian markets.[7][4] [18]+4

Business segments

Tencent Music Entertainment Group reports one operating segment: management does not review the business as separate product or service lines. It does, however, disclose revenue in two categories: online music services and social entertainment services and others. In 2025, they contributed approximately 81% and 19% of total revenue, respectively.[20][21]

Online music services are delivered chiefly through QQ Music, Kugou Music and Kuwo Music. They generate revenue from music subscriptions, advertising and activities including digital albums, long-form audio, live performances and content licensing.[2]+4 Social entertainment services include online karaoke and other interactive experiences, notably through WeSing and Kugou Music’s singing feature; monetization includes virtual gifts, premium memberships and advertising. The company does not report revenue separately for individual apps.[26]+3 [20]+11

Company history

Tencent Music Entertainment Group traces its origins to China Music Corporation, incorporated in 2012. Its online karaoke community, WeSing, was introduced in 2014. In 2016, Tencent contributed its Chinese online-music business, primarily QQ Music and WeSing, to China Music Corporation, which already operated Kugou and Kuwo. The combined company adopted the Tencent Music Entertainment Group name that December.[29]+2

In 2017, Tencent Music and Spotify announced reciprocal minority equity investments. Tencent Music’s American depositary shares began trading on the New York Stock Exchange in December 2018. Cussion Pang, CEO since the 2016 combination, became executive chairman in April 2021, when Ross Liang succeeded him as CEO. The company’s shares began trading in Hong Kong in September 2022.[32]+3 [29]+5

Sources

• Tencent Music Entertainment Group — Full financial report (2025 Y)
  20 citations

  [1][2][3][4][5][6][7][10][11][18][19][20][21][22][23][24][25][26][27][28]
• ir.tencentmusic.com[8]
• Tencent Music Entertainment Group — Full financial report (2024 Y)
  8 citations

  [9][12][13][15][16][17][29][34]
• www.tencentmusic.com[14]
• Tencent Music Entertainment Group — Full financial report (2023 Y)[30][31]
• static.www.tencent.com[32]
• ir.tencentmusic.com[33]