Tencent Music Entertainment Group (NYSE:TME) delivered a robust financial performance for the fourth quarter and full year of 2025, underscored by the rapid expansion of its premium subscriber base.
The company reported total annual revenue of RMB32.90 billion, a 15.8% increase over the previous year.
The momentum was particularly visible in the fourth quarter, where revenue climbed 15.9% to RMB8.64 billion, fueled by a 21.7% surge in online music services.
The company’s bottom line saw an even more dramatic expansion.
Full-year net profit attributable to equity holders reached RMB11.06 billion, representing a 66.4% jump from 2024.
While this figure was bolstered by a one-time gain of RMB2.37 billion, the underlying operational strength was evident in the continued shift from a social-entertainment model to a music-centric subscription powerhouse.
A key driver of this transition has been the "SVIP" tier, which offers high-fidelity audio and exclusive content; the company confirmed that SVIP subscribers have now surpassed the 20 million mark.
Reflecting its strong liquidity position, Tencent Music’s board approved an annual cash dividend totaling approximately US$368 million.
This move follows a year of disciplined capital management, leaving the company with RMB38.04 billion in cash, cash equivalents, and short-term investments as of December 31, 2025.
Looking toward 2026, Tencent Music plans to deepen its integration of generative AI to enhance music discovery and personalized recommendations.
The company is also exploring broader international licensing opportunities and original content production to maintain its dominant market share in China’s digital music landscape.