Tencent Music's quarterly revenue jumps on strong subscriber growth
Alexia Bădoiu
Tencent Music Entertainment surpassed first-quarter revenue expectations on Tuesday on the back of strong subscriber growth in its online music services, particularly in its long-form audio content. The Chinese music streaming giant has heavily invested in long-form content, like podcasts and audiobooks, as part of its bet on the Super VIP (SVIP) program, which bundles high-quality audio, online karaoke and exclusive event access. This has helped Tencent Music offset weakness in its social
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