Photo taken on Oct. 7, 2020 shows the Tencent building in Nanshan District of Shenzhen, south China's Guangdong Province.(Xinhua/Liu Dawei)
BEIJING, Aug. 17 (Xinhua) -- Leading Chinese online music streaming platform Tencent Music Entertainment saw its revenue increase 5.5 percent year on year to 7.29 billion yuan (about 1.01 billion U.S. dollars) in the second quarter of 2023.
The company said Tuesday in a statement that its net profit surged 48.6 percent year on year to 1.53 billion yuan (211 million U.S. dollars) during the period.
Revenues from online music services in the second quarter surged 47.6 percent year on year to 4.25 billion yuan (about 586 million U.S. dollars), while music subscription revenues rose 32.2 percent year on year to 2.89 billion yuan (about 399 million U.S. dollars).
In June this year, the company saw its online music paying users exceed 100 million, hitting a record high.
Tencent Music attributes this eye-catching performance to its refined user operations, more attractive user rights, higher quality music content, etc.(Edited by Yang Yifan with Xinhua Silk Road, yangyifan@xinhua.org)
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