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In 2020, the total revenue will be 29.15 billion yuan, with 56 million paying users From Tencent music

The following is the In 2020, the total revenue will be 29.15 billion yuan, with 56 million paying users From Tencent music recommended by recordtrend.com. And this article belongs to the classification: Enterprise financial report, Online music, Investment & Economy, Network entertainment.

On March 23, 2021, Tencent music released its unaudited financial report for the fourth quarter and the whole year up to December 31, 2020. In 2020, the company’s total revenue increased by 14.6% year-on-year to 29.15 billion yuan, and its non IFRS net profit attributable to shareholders increased by 0.9% year-on-year to 4.95 billion yuan.

In the fourth quarter of 2020, Tencent’s total music revenue increased by 14.3% year on year to 8.34 billion yuan. Among them, the revenue of online music service increased by 29.0% year-on-year, higher than 25.9% in the third quarter of 2020; the revenue of online music subscription increased by 41.9% year-on-year to 1.58 billion yuan, and the advertising service achieved over 100% year-on-year growth in the fourth quarter of 2020. The net profit attributable to shareholders under non IFRS was 1.35 billion yuan.

In terms of user data, in the fourth quarter of 2020, Tencent music online music payment users reached 56 million, with a year-on-year growth of 40.4%; the net month on month growth was 4.3 million, with a payment rate of 9%, higher than 8% in the third quarter and 6.2% in the same period of 2019. The penetration rate of long audio users increased to nearly 15%, much higher than 6% in the same period of last year.

After the company renewed its strategic cooperation agreement with UMG for several years in 2020, the equity of the consortium led by Tencent holdings in UMG increased to 20% in January 2021; in March 2021, the company renewed its long-term strategic cooperation agreement with Warner Music in advance. According to the cooperation agreement, the two sides will carry out more in-depth cooperation and further expand the scope of strategic cooperation in the form of joint venture music brands or other forms, including the authorization of Warner Music to cover all the music entertainment platforms of the company, and the two sides will jointly develop music solutions to jointly develop the market space of commercial music in various fields such as intelligent terminals.

In terms of long audio, in the fourth quarter of 2020, the number of Tencent music long audio albums increased by 370% year on year, the penetration rate of long audio Mau increased to 14.8% from 5.5% in the same period last year, and the average daily usage time of long audio users continued to grow. In January 2021, the company reached a final agreement with all shareholders of Shenzhen lazy Online Technology Co., Ltd. (lazy listen to Books) to acquire 100% equity of lazy listen to books.

Tencent Music: 1q20 financial report bright, online music subscription revenue achieved a historic growth of 70% year on year. Tencent Music: 3q20 revenue of 7.58 billion yuan, online music paying users reached 51.7 million. Tencent Music Entertainment Group: total revenue of 25.43 billion yuan in 2019, a year-on-year growth of 34%. Tencent music: pay wall driven 1q20 music paying user growth Tencent Music Group: 4q19 revenue increased 35% to 7.3 billion yuan year on year Music: in the first half of 2016, the total amount of online music streaming services in the United States increased by 58.3% year on year musicwatch: in September 2018, the number of paid users of music streaming services in the United States exceeded 50 million Nielsen: in the first half of 2015, American users consumed 135 billion songs through music streaming services Netease: 1q20 net profit was 3.5 billion yuan, exceeding market expectation Netease: 4q20 revenue was 19.8 billion yuan A year-on-year growth of 25.6% 7 pictures tell you that musicians and streaming media platform love and hate Netease: 2q20 financial report teleconference record

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